GEORGIA 607 PORTFOLIO
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A MULTIFAMILY INVESTMENT OPPORTUNITY
8%
PREFERRED ANNUAL RETURN
23%
IRR
2.21x
EQUITY MULTIPLE
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CONFIDENTIAL INVESTMENT SUMMARY
DISCLAIMER
The following information is an investment summary provided to prospective investors and others. This information is not an offering to sell a security or a solicitation to sell a security. At the request of a recipient, the Company will provide a private placement memorandum, subscription agreement and the Limited Liability Company Operating Agreement. The Managing Member in no way guarantees the projections contained herein. Real estate values, income, expenses and development costs are all affected by a multitude of forces outside the Managing Member’s control. This investment is illiquid and only those persons that are able and willing to risk their entire investment should participate. Please consult your attorney, CPA and/or professional financial advisor regarding the suitability of an investment by you. (Español)
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01
THE TEAM
THE ASSET MANAGEMENT TEAM
The Sponsor is DMMD. Founded by Duamel Vellon and Myron McNeil, they are experienced multifamily owners and operators with multifamily assets in Central and North Florida, and in South Georgia. Their goal is to preserve the asset and increase its value over time through innovative management techniques, while generating and increasing the asset's income.
It is a common misconception that operators of apartment buildings merely collect rent, manage the property manager and sign leases. In reality, the operation of an apartment building is far more complex. Our team creates and executes an elaborate Business Plan, custom tailored to each property. We work hand-in-hand with the property management team to provide cutting edge technology to the leasing mechanism and also are very hands-on in the construction and renovation of the assets.
For this project, we will have an FULL-TIME staff member placed in Albany to serve as Asset Manager. This person has nearly 20-years experience in property management and their duties include consistent evaluation of the property performance. We are also placing a full-time Construction Manager to ensure timely completion by contractors.
Please note, this is not a heavy lift project. This is an operations and management stabilization project.
Our focus will be to consistently evaluate the property in light of the real estate market, forecast its potential for the future and execute the Business Plan to maximize the building's potential market value. All this while remaining flexible to the demands of the ever-changing real estate market and maximizing returns for our investors.
Director of Asset Management
DMMD Team
Ten15 Capital
Director of Operations
DMMD Team
American Commodity Investment Group
02
THE STRATEGY
Investment Opportunity
We are excited to announce that Ten15 Capital is in partnership again with American Commodity Investment Group! Together, we are pleased to present the opportunity to participate in the following four-property portfolio package in Albany, Georgia:
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The Village, a 100-unit, value-add apartment complex with a pool, fitness center and laundry facility
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Nottingham, a 146-unit, value-add apartment complex with two pools, playground and laundry facility
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Nottingham North, a 161-unit, value-add apartment complex with a pool, tennis court, playground and laundry facility
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2415, a 200-unit, value-add apartment complex with a playground and a laundry facility
We are investing our family's capital in this opportunity.
We are offering an opportunity to partner with us on these great communities, a Class B, garden-style apartment community in a thriving B-Class neighborhood with all of your favorite retailers, such as Starbucks, Chipotle, Aspen Dental & Lowe's.
More than 50% of the units have been completely renovated!
The opportunity of acquiring this asset will allow qualified investors to take advantage of the last year of 100% Bonus Depreciation, We have also programmed in a cash-out refinance and we will enjoy strong cash flow.
With the uncertain times, we are excited to provide our partners the opportunity to hedge against inflation, a looming recession and protect their wealth in an income-producing hard asset.
1031 Exchanges, Self Directed IRA's, Solo 401k are all welcome!!
This is a 506(c) offering, available to accredited investors only.
The Market
There is not another city that can offer big city amenities while providing the comforts of a small town like the City of Albany. Albany is beautifully positioned on the banks of the Flint River. Incorporated in 1838, Nelson Tift founded the city and named it after the capital of New York. It is the hub of Southwest Georgia for culture, shopping, education, healthcare, and recreation. Albany is a great place to live, work and play.
Albany has developed a diversified industrial economy, which includes Proctor & Gamble, MillerCoors, and Mars Chocolate North America. The healthcare and education systems along with the Marine Corps Logistics Base Albany are the largest employers. Manufacturing, transportation, tourism and retail trade are also important foundations of Albany's economy. The city acts as a center for commerce in Southwest Georgia.
Exceptional healthcare is available on two campuses of Phoebe Putney Memorial Hospital, which was included on Georgia Trend’s 2014 list of top teaching hospitals. Both full-service facilities have served residents in Albany and Southwest Georgia for more than a century.
03
OVERVIEW
THE PLAN
Years 1
Renovate & Reposition
Year 2:
Stabilize & Refinance
Years 3-5:
Enjoy Cash Flow
Month 13:
Distributions Begin
*Any accrued preferred payments will be caught up on the refi
timelines
Legal Docs Due:
September 9, 2022
Funds Due:
September 16, 2022
Closing Date:
September 23, 2022
Total Raise:
$22M
projected returns
$100k Minimum Investments
(Lesser investments will be considered on a case by case basis)
2.21x Equity Multiple
23.65% IRR
8% Preferred Return
Cash Out Refi Year 2
75% Capital Return (Projected)
CAPEX PLAN
$3.5M Renovation Budget
Value Add
Interior renovations
Pool upgrades
Privacy & security improvements
Landscaping enhancement
Deferred Maintenance
Roof repairs
Asphalt restriping
10% Contingency
The Village
The Village is one of the premier properties in the City of Albany.
The Village Apartments is a 100-unit garden style apartment community with beautiful landscaping and courtyards. Built in 1973, it has nearly $1M invested of repairs and renovations by Seller since 2019. Some of these include exterior paint, resurface of the pool, renovation of the leasing office and unit upgrades.
Amenities include a recreational swimming pool, office and leasing building, laundry facility, fitness center and a courtyard.
As of July, there were a total of 51 units renovated with vinyl plank flooring, two-tone paint, new countertops and appliances. The units are all townhouse style apartments and very spacious.
The unit mix is:
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76 units 2-bedrooms
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24 units 3-bedrooms