Solace of Ballpark Village – Goodyear, AZ
Project Category: Original Use Property
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Summary
• 211-Unit Ground Up Multifamily Project in High Growth Phoenix Suburb of Goodyear, AZ
• Fully Entitled and in for Permitting – Construction Start in
• January 2021, Completion in Q3 2022
• $44M Project Cost – Seeking $11.34M in Qualified Opportunity
• Zone Equity after $1.26M in GP Equity Commitment -
Details
Project Qualification: Original Use PropertyReal Estate: ResidentialTotal Capital Required: $45,000,000Equity Required: $12,600,000Debt Required: $32,400,000Project Control: We own all the key propertyTimeline: 30-90 daysAddress: 2571 Estrella Pkwy Goodyear Arizona 85338 United States -
Map
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Project Narrative
Project Narrative:• 211-Unit Ground Up Multifamily Project in High Growth Phoenix Suburb of Goodyear, AZ
• Fully Entitled and in for Permitting - Construction Start in
• January 2021, Completion in Q3 2022
• $44M Project Cost - Seeking $11.34M in Qualified Opportunity
• Zone Equity after $1.26M in GP Equity Commitment
• Jackson Dearborn Partners + Sub4 Development - Established Sponsor with nearly 2,000 multi-family units and 4,000 student housing beds
• 40 Completed or ongoing Ground Up Construction Projects including $300M Development Pipeline and Seven Opportunity Zone Projects
• Chicago and Champaign, IL-based group with an office in Scottsdale and three projects in the works in Phoenix, MSA
• Equity is 90% LP, 10% GP, 8% Preferred Return and then cash & capital distributed 70% to LP, 30% to GP
• Minimum investment of $25K, closing on or before 12/31/2020,
• 10 year term for full Opportunity Zone Tax Benefits
• Project Level Returns of 18.7% IRR, 3.24x, Investor Level
• Returns of 15.5%, 2.60x (prior to QOZ Tax Benefits)