Minimum Investment
$100,000
Target Hold
30 months
Annualized Returns
26.00%
100% Funded
Project Summary
Overview
The Fiene Condominiums project is a 21-unit condo building. The size of the units and smaller development appeal to the Millennial, white-collar worker, wealthy retiree buyer/renter and those seeking a Downtown Lifestyle, as well as being conveniently located to restaurants, entertainment, fitness facilities and shopping. There is a current lack of competitive supply of available units in the immediate area.
Tenacity Holdings is seeking an Equity Investment of $5,277,000. Construction is expected to take 12 months with sale/lease-up projected for 5 months after that. Tenacity Holdings will pursue one of two exit strategies: either to sell the condos individually or hold for 30 months. The Equity Investor will receive 100% of their investment either after the sale of the condo units or after the sale of the building. Returns from the sale of the condos is projected to be 30% ROI annualized or a projected 26% ROI annualized on the leasing and eventual sale/refinance of the building.
Retirement Community will consist of:
- 21 Class A Condo Units, targeted for the Millennial, white-collar worker, and wealthy retiree buyer/renter.
Estimated Development Budget:
- Equity $5,277,000
- Total Budget $5,277,000
Amenities:
- 10’ ceilings
- 8’ doors
- Premier appliance and fixture packages
- Energy efficient appliances
- Granite countertops
- European cabinets
- Walk-in closets
- Modern plumbing fixtures
- Washer / Dryers
- Sound eliminating wall system
- High speed internet access
- Building security access
