T15AC MULTIFAMILY FUND

A MULTIFAMILY INVESTMENT OPPORTUNITY

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CONFIDENTIAL INVESTMENT SUMMARY

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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)

TABLE OF CONTENTS

THE TEAM

THE STRATEGY

INVESTMENT OVERVIEW

INVESTMENT THESIS

THE FINANCIALS

WEBINAR & FAQ

 

This deal is 100% subscribed and no longer available for investment.

To make a Soft Commitment, click on your sponsor's logo  below:

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01

THE TEAM

Ten15 Capital

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American Commodity Investment Group

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Integral Equity Group

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ETEMA Capital

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1Ocean Capital

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To make a Soft Commitment, click on your sponsor's logo  below:

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02

THE STRATEGY

 

This deal is 100% subscribed and no longer available for investment.

Investment Opportunity

We are excited to announce that Ten15 Capital is in partnership again with American Commodity Investment Group! Together, we welcome partnership with 1Ocean Capital, ETEMA Capital and Integral Equity Group. We are pleased to present the opportunity to participate in our T15AC Fund, which will purchase two properties:

  • 100North Apartments, a 20-unit, brand new apartment development in Eustis, Florida.

  • 1425 Park Apartments, a 56-unit, value-add apartment complex in Valdosta, Georgia

We are investing our family's capital in this opportunity.

 

We are offering an opportunity to partner with us on TWO communities. This approach allows us to diversify our risk between a ground-up new development and a Class C, garden-style apartment community. The opportunity of acquiring these two assets with one investment will allow qualified investors to take advantage of two Depreciation events.

With the uncertain times, we are excited to provide our partners the opportunity to hedge against inflation and protect their wealth in an income-producing hard asset.

This is a 506(b) offering, available to accredited investors AND 35 sophisticated (approved non-accredited) investors.

100North Apartments

The Certificate of Occupancy is expected to be received at the end of March. We are getting a fully-warranted, brand new building at a price below today's construction costs! The mid-rise building features a five-story, concrete block design with direct access units. The property features some of the largest floorplans in the submarket at 950 square feet on average.


100North’s location within the middle of Downtown Eustis is prime for one of Lake County's fastest growing city and is perfectly positioned for upscale fun and convenience. If you want to get out and about, you’ll find great dining, shopping, and entertainment options just a short walk away. Ferran Park is a feature attraction in Lake County, with kayak launch into Lake Eustis, gazebos, walking trails, water fountains, fishing, electric vehicle charging stations, phone charging stations, a bandshell with frequent performances and a community pool.

 

1425 Park Apartments

Rebranding! Currently called "Courtyards on Park," it will be rebranded to "1425 Park" shortly after takeover. 1425 Park represents an outstanding opportunity to invest in a proven value-add story with significant upside.

The property is situated in the heart of Valdosta, an easy drive to the university, medical centers, major retail and restaurants. The 56-unit property has amenities to offer, such as a clubhouse and a pool.

Part of our value-add plan includes: updating unit interiors with vinyl plank flooring and new kitchens, new HVAC units, repairing roofs, updating the pool, adding a fitness center and adding a playground. As an added bonus, there are 52-storage units not being utilized. We will restore the facility and collect that added income!

Per our market analysis, we are expecting to achieve a $200+ rent increase per unit.

To make a Soft Commitment, click on your sponsor's logo  below:

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03

OVERVIEW

 

THE PLAN

Years 1 & 2
Lease-UP & Reposition

Years 3-7:
Stabilized Cash Flow

Month 7:
Distributions Begin


*Any accrued preferred payments will be caught up on the refi

timelines

Legal Docs Due:

April 8, 2022

Funds Due:
April 11, 2022

Closing Date:

April 14, 2022

Total Raise:
$3.75M

projected A1 returns

$50k Minimum Investments

(Lesser investments will be considered on a case by case basis)($249k max)

2.08x Equity Multiple

14.5% IRR

7% Preferred Return

Cash Out Refi Year 2
25% Capital Return
(Projected)

projected A2 returns

$250k Minimum Investments

(Lesser investments will be considered on a case by case basis)($750k max)

2.12x Equity Multiple

15.1% IRR

9% Preferred Return

Cash Out Refi Year 2
25% Capital Return
(Projected)

To make a Soft Commitment, click on your sponsor's logo  below:

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04

THE THESIS

 
What We Like About 100North

Top 5 Reasons

  • New Class A property for less than replacement cost

  • The ONLY luxury complex in the market

  • Largest floorplans in the market at 950 square feet

  • Newest product in the area

  • Submarket is a hidden gem in Central Florida

Take Notice

100North Apartments is also located near world class employers, including AdventHealth Waterman Hospital, Orlando Health South Lake Hospital and University of Florida Leesburg Hospital.

 

With excellent access to major roads, you can be in Orlando or anywhere in the area in just minutes. 100North is right in the heart of a high-growth Orlando submarket and will benefit from the SR 429 extension ‘ring road’ around Orlando, which has already opened up access to downtown Orlando and spurred new housing development throughout the submarket.

The greater Orlando area continues to be one of the fastest-growing metro areas in the U.S., outpacing other cities like Atlanta, Austin and Tampa. This influx of nearly 61,000 new residents to the MSA in 2020 is leading to booming suburban submarkets like Eustis.

 

The population within a 15-minute drive of 100North Apartments includes 83,403 residents, a 41 percent increase since 2000, and is projected to expand another 9.1 percent to nearly 91,000 over the next five years.

What We Like About 1425 Park

Top 5 Reasons

  • Solid unit mix of 1, 2 and 3 bedrooms

  • The largest floorplans in the market

  • Value-add reposition of $200 per unit

  • Opportunity to add income with storage

  • Strong South Georgia submarket 

Below Market Rents

The current average in-place rent across floor plans is more than $200 below market for similar units. With updated apartments, we will achieve rent premiums.

Property & Operations

The property amenities and curb appeal could use improvements. The property is in an ideal location and has the ability to attract a higher quality tenant profile. With our proven Business Plan, we will add new landscaping elements, security gate & camera, new property management, fitness center, updated pool, dog park, playground and overall freshen up of the property.

Renovate Interiors

There is an opportunity to improve the units with vinyl plank floors, smart features, modern paint scheme, kitchen countertops, HVAC units and kitchen appliances.

Positive Market Fundamentals

Valdosta consistently indicates positive market indicators such as 95% occupancy. Thriving off of a host of employers in medical, educational, and manufacturing industries, Valdosta has emerged as the economic capital of the entire South Georgia region

To make a Soft Commitment, click on your sponsor's logo  below:

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05

THE FINANCIALS

 
100North Apartments

UNIT MIX

20 Units (1 Bed/ 1.5 Bath)

Total = 20 Units

5-Story Mid-Rise Building

 

Brand New Construction


24 Parking Spots
 

PURCHASE

Purchase Price:
$3.55M

Down Payment:

$887.5k

Reserves:
$300k

mortgage

Bridge Debt Year 1:
Transition and Stabilization

Refinance End of Year 2:

4% Interest

10-Year Term

30-Year Amortization

Interest Only 2 Years

FINANCIALS

CAP Rate (Entry):

7%

Projected Rent Growth:
5%

Year 1 Underwriting Vacancy:
25%

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1425 Park Apartments

UNIT MIX

16 Units (1 Bed/ 1 Bath)

32 Units (2 Bed/ 2 Bath)

 

8 Units (3 Bed/ 2 Bath)

Total = 56 Units

PURCHASE

Purchase Price:
$3.6M

Down Payment:

$900k

Renovations:
$1.1M

mortgage

Bridge Debt Year 1:
Transition and Stabilization

Refinance End of Year 2:

4% Interest

10-Year Term

30-Year Amortization

Interest Only 2 Years

FINANCIALS

CAP Rate (Entry):

5%

Projected Rent Growth:
5%

Year 1 Underwriting Vacancy:
11%

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Fund Level
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Splits (Excess Cash Flow & Equity Share On Sale)

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A1 Partner Returns

7% Preferred Based On $50k Investment (up to $249k)

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A2 Partner Returns

9% Preferred Based On $250k Investment (up to $750k)

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To make a Soft Commitment, click on your sponsor's logo  below:

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06

THE WEBINAR

 

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Investment Summary Webinar Presentation

Ten15 Capital, American Commodity Investment Group, and partners are excited to present a great investment opportunity that consists of two properties with one fund:

  1. Courtyards on Park Apartments: 56 apartment units, 52 storage units, Class C property, Valdosta, GA.

  2. 100 North Apartments: Brand new 2022 build complex, 20 units, Luxury Class A property, Eustis, FL.

When: Mar 29, 2022 07:00 PM Eastern Time (US and Canada) 

Frequently Asked Questions (FAQ)

How and when will distributions be made? We will pay distributions quarterly, in the month following the end of the quarter. Payments will only be made via ACH direct deposit to the bank account you provide to us upon committing your investment. Distributions start at the end of the 4th quarter.

 

When is the first distribution? The preferred returns will not start being distributed until month 7 of ownership, paid at the end of the 4th quarter.  This gives management an opportunity to settle in, assess the operations, ensure the property is cash flowing, and pay investors with the operating cash flow.

 

Is the General Partnership team investing any of their own money? Yes. The GP team is investing a minimum of $375,000 of their own funds into this deal at least 10%).

 

Will you be doing a cost segregation study that includes bonus depreciation? Yes, we will be performing a cost segregation study to maximize the depreciation and bonus depreciation (assuming current tax laws remain in place) for the 2022 tax year.  The projected tax dollar benefits to be captured looks to be an estimated 60-65% of your total investment amount.  For example, if you invested $100,000, you could potentially have $60,000 of passive paper losses on your 2021 K-1 statement.  Consult your CPA on how this could affect your taxes.

 

Can I invest less than $50,000? At this point in time, investment amounts less than $50,000 will be considered on a case-by-case basis.

 

What is the most amount of money I can invest in this deal? The maximum investment amount for this deal is $750,000.

To make a Soft Commitment, click on your sponsor's logo  below:

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