Limited Opportunity: CLASS A MULTI-FAMILY INVESTMENT
The Grand Reserve
Huntsville, AL
- 20%+ projected IRR
- 232 units
- 98% occupancy
- Excellent location
- Strong cashflow
- Built in 2004
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Who should invest?
- HNW (high net worth, accredited) individuals looking for a passive investment in a stable, well-managed multi-family real estate assets
- Private equity funds looking for diversification into multi-family real estate
- Anyone with a qualified retirement account such as self-directed IRAs and 401(k)s
- High-income, busy professionals who have little time to learn how to invest in real estate but would like to enjoy the benefits of this type of investment
- Individual investors looking for both Income via an attractive preferred return and Growth by participating in an investment that shares the upside upon exit
- Investors seeking the significantly tax-reducing benefits of depreciation that come with being a passive (capital) partner in a real estate investment
Penn Capital’s institutional quality investments and experienced property management will play a significant role in maximizing the income generated by the property. Having already successfully acquired and renovated three other multi-family properties in the Huntsville market, we know how to force appreciation in order to achieve the best longterm outcomes for our investors,
Why Huntsville?
- Strong job and population growth in the area
- High-end and garden-style units rents below market
- Penn Capital’s 4th deal in the Huntsville market
- No. 2 US city in salary to cost-of-living ratio (2019 ranking, The Ascent)
- Top 20 US cities to live (2020 ranking, Business Insider)
- 10% population growth since 2010
- 7.9% rent growth in 2019
232 units
98% occupancy
We intend to modernize and refresh the individual units with cosmetic upgrades to answer the shortage of high-end and garden-style apartments in the area.
Penn Capital case studies:
- 390 units
- Huntsville, Alabama
- Value-add: Class C- to B-
- Completed $5.9M rehabilitation in 12 months
- 88 units
- Huntsville, Alabama
- Class A- corporate housing & workspace
- $4.5M extensive rehabilitation in 9 months
- 124 units
- Outside Houston, Texas
- Value-add: Class C to B
- Completed initial rehabilitation in 8 months
- 101 units
- Outside Dayton, Ohio
- Value-add: Class B to A
- Rebuild from tornado (May 2019) complete August 2020.
CAPEX projects for the Grand Reserve include pool and gym upgrades, refreshing of the clubhouse and leasing office, upgrading to stainless appliances and new countertops, and adding state-of-the-art decorative street lighting.
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