Solace of Ballpark Village – Goodyear, AZ

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Project Category: Original Use Property

  • 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 Property
    Real Estate: Residential
    Total Capital Required: $45,000,000
    Equity Required: $12,600,000
    Debt Required: $32,400,000
    Project Control: We own all the key property
    Timeline: 30-90 days
     Address: 2571 Estrella Pkwy Goodyear Arizona 85338 United States
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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)