Completed
Tapteal on the Columbia Apartments
Richland, WA
Overview
Asset class
Real estate
Asset type
Multifamily
Strategy
Fixed income
Funds
Fundrise eREIT
Updates
New acquisition
February 16, 2018
This is our fifth investment to date with Evergreen Development, a major developer in the Pacific Northwest.
New acquisition: Stabilized apartments in Richland, WA
View update
Exit
December 10, 2018
The project generated a roughly 12% annualized return, supporting consistent dividend payments for West Coast eREIT investors.
Exit update: Richland, WA apartment renovation pays back successfully
View update
Asset type
Multifamily
Multifamily (MF) is a residential building designed to house multiple tenants. These properties can range from small to large apartment complexes with hundreds of units. With a boom in remote work and business-friendly local governments courting employers, more affordably-priced suburban apartment communities have generally experienced stable or growing demand. Multifamily’s resilient demand and scale enables us to leverage our integrated operating platform to drive long-term performance.
Our strategy
Fixed income
Provide real estate backed loans or similar financing
- Expected variability of return: Low
- Timing of expected return: Typically begin earning interest immediately
- Primary expected source of returns: Interest income
This section is intended to provide a general overview of the Fixed income strategy for educational purposes only, and is not meant to be representative of the specific details of any individual investment. All investments involve risk; there are no guarantees of any returns.