Project Category: Original Use Property
100 unit Student housing development serving the growing student body in Vermillion SD, home of the University of South Dakota.
Project Qualification: Original Use PropertyReal Estate: ResidentialTotal Capital Required: $15,185,000Equity Required: $5,000,000Debt Required: $10,000,000Project Control: We own all the key propertyTimeline: 30-90 daysAddress: North Norbeck Street Vermillion South Dakota 57069 United States
100 units of millennium housing in the city of Vermillion, SD, home of the University of South Dakota.
Experienced General Partner works with large institutional investment groups and syndicators. State Housing authorities as references, HUD, HOME, LIHTC, HTC, experience.
Cash on Cash return starting at stabilization of 14% plus, by year 7 cash on cash exceeds 18% and sale of product in year 11 shows IRR of 22%.
Land is currently owned by development team, market studies, environmental, zoning, and utilities all in place and ready for development. .
Timing can be accommodated if needed by fund sponsor.
Leverage can be adjusted based on investor’s needs