We’re excited to announce that we have completed a cash-out refinance and new capital raise at Bayberry Green Apartments in Epping. After purchasing and renovating this 8-unit set of townhouses in late 2020 at a total project cost of $1.0M, the Property now appraises at $1.4M and produces ~$180K/year of gross income. The refinance’s cash-out exceeded our total initial investment and sent an early capital partner home with a 25% gain. Meanwhile, we have raised another $190K of cash by inviting a new group of limited partners into the deal. Those new investors will enjoy steady cash flow above 10% and a total IRR above 15%. Thank you to Primary Bank for providing the financing that made this possible and thank you to contractors like Nault’s Plumbing and Heating, Monarch Electric, and 3D Home Improvement for their quality work during the renovation.
Riley O’Brien New Hire
We were thrilled to name Riley O’Brien as our new