The $4mm loan has a 30-year term, 30-year amortization schedule with a rate of 5.30% fixed for the life of the loan.
Apartment TIC Investment For Sale
This is a Private, Confidential and Off-Market Offering. This property is quietly being offered and is not being widely marketed on commonly used large listing services.
• Home to a North Carolina State University with an enrollment of 17,000 students.
• The University is one of the UNC system schools, has been in existence for over 100 years and has grown steadily.
• These Apartments are close to campus, was renovated in 2010 (formerly a hotel), offers studio and one bedroom units, has an indoor / outdoor pool, fitness center, on-site leasing center, and on-site grill / restaurant.
• The property has stayed +95% occupied since its 2010 renovation.
• Selling 1031 Interests in this well-located, student property.
• Total subscription of $3.5M offered in $50,000 units.
• Pays an 8.0% annual preferred coupon with upside potential through additional ownership.
Latest Apartment / Multifamily Arrivals
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