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PROJECTED TOTAL RETURN
PROJECTED TOTAL RETURN
90%
90%
PROJECTED ANNUAL CASHFLOW
PROJECTED ANNUAL
CASHFLOW
6%
6%
PROJECTED EQUITY MULTIPLE
PROJECTED EQUITY MULTIPLE
1.9X
1.9X
PROJECTED IRR
PROJECTED IRR
15%
15%
ProjecteD Average
Annualized Return
ProjecteD Average Annualized Return
18%
18%
PRICE PER UNIT
PRICE PER UNIT
$110,805
$110,805
506(B) Offering
THE PROPERTY
THE PROPERTY
Luna Vista is a 236 unit, individually metered community located in Fort Worth, Texas along Interstate-30 just ten minutes from downtown Fort Worth or Arlington, providing a convenient location for a wide range of area workers and an easy commute to virtually anywhere in the Dallas-Fort Worth metroplex. Situated at the intersection of Interstate-30 and Loop 820, residents can also reach Northeast Mall, D/FW Airport, AT&T Stadium and many other area employers and attractions within minutes. Fort Worth is one of the nation’s fastest growing rental markets with a large and well-diversified employment base. With strong population growth and a limited stock of workforce housing available for rent, fundamentals should remain strong in Fort Worth for years to come.
Luna Vista is a 236-unit community in Fort Worth, Texas, near Interstate-30, just ten minutes from downtown Fort Worth or Arlington. This location is perfect for area workers and offers an easy commute around the Dallas-Fort Worth metroplex. At the intersection of Interstate-30 and Loop 820, residents can quickly reach Northeast Mall, D/FW Airport, AT&T Stadium, and many other employers and attractions. Fort Worth is one of the nation’s fastest-growing rental markets, with many job opportunities. With strong population growth and limited affordable housing, Fort Worth should stay a strong market for years to come.
HIGHLIGHTS
HIGHLIGHTS
Property
Property
236 units Class B value-add multifamily property in SW Fort Worth
Built in 1979 consisting of 32 two-story buildings & separate leasing office/clubhouse building
Pitched roofs; individual HVAC, electric, & water heaters
Washer/dryer connections in 87% of units
96% Stabilized occupancy
236 units Class B value-add multifamily property in SW Fort Worth
Built in 1979 consisting of 32 two-story buildings & separate leasing office/clubhouse building
Pitched roofs; individual HVAC, electric, & water heaters
Washer/dryer connections in 87% of units
96% Stabilized occupancy
Attractive Location
Attractive Location
DFW is the 4th largest metro & 2nd in job growth in the U.S.
Prime Location 15 minutes to Downtown Fort Worth
Proximity to Major Employers: Cook's Children Hospital, Texas Health Harris Methodist Hospital, AT&T Stadium, TX Rangers Ball Park, 6 Flags Over Texas, Forth Worth Zoo & the historic Stockyards just to name a few
$53k+ Median Household Income within 3-mile radius
DFW is the 4th largest metro & 2nd in job growth in the U.S.
Prime Location 15 minutes to Downtown Fort Worth
Proximity to Major Employers: Cook's Children Hospital, Texas Health Harris Methodist Hospital, AT&T Stadium, TX Rangers Ball Park, 6 Flags Over Texas, Forth Worth Zoo & the historic Stockyards just to name a few
$53k+ Median Household Income within 3-mile radius
Amenities
Amenities
Technology Package: Internet & Cable
State-of-the-art soccer field & playground
Kid-friendly splash pad
Pet-friendly amenities including dog park
Community Center/Clubhouse
BBQ/Picnic areas
Technology Package: Internet & Cable
State-of-the-art soccer field & playground
Kid-friendly splash pad
Pet-friendly amenities including dog park
Community Center/Clubhouse
BBQ/Picnic areas
Value-Add Acquisition
Value-Add Acquisition
Rents are under market from $245 to $308
Proven interior renovation plan with average $142+ rent bumps with potential upside
Covered parking, washer/dryer machine rent & other income realization
Fitness Center Amenity Development
$3.3M Capex budget
Rents are under market from $245 to $308
Proven interior renovation plan with average $142+ rent bumps with potential upside
Covered parking, washer/dryer machine rent & other income realization
Fitness Center Amenity Development
$3.3M Capex budget
Conservative Underwriting
Conservative Underwriting
Attractive cost basis at $111k/unit (recent sales comps traded at $120k - $150k/unit)
Very attractive 5.79% fixed interest rate Fannie Mae agency debt with 7 year term, 4 years interest only, 35 years amortization, & 6.5 years yield maintenance prepayment penalty
Conservative rent growth projections from Yardi Matrix
Conservative exit cap rate of 5.9% (100 bps above T3 purchase cap rate of 4.9%)
Tax advantages* (In 2023, we are able to utilize 80% bonus depreciation; in 2024, this will be phased down to 60%.)
Attractive cost basis at $111k/unit (recent sales comps traded at $120k - $150k/unit)
Very attractive 5.79% fixed interest rate Fannie Mae agency debt with 7 year term, 4 years interest only, 35 years amortization, & 6.5 years yield maintenance prepayment penalty
Conservative rent growth projections from Yardi Matrix
Conservative exit cap rate of 5.9% (100 bps above T3 purchase cap rate of 4.9%)
Tax advantages* (In 2023, we are able to utilize 80% bonus depreciation; in 2024, this will be phased down to 60%.)
*Please check with your tax and legal professional as Sponsors do not provide tax or legal advice and teh above is not intended to or should be construed as such advice. Your specific circumstances may, and likely will, vary.
*Please check with your tax and legal professional as Sponsors do not provide tax or legal advice and teh above is not intended to or should be construed as such advice. Your specific circumstances may, and likely will, vary.
HOW CAN WE ADD VALUE TO YOU?
EXPERIENCED SPONSORSHIP TEAM
EXPERIENCED LEAD SPONSORSHIP TEAM
Hands-on "boots on the ground” asset managers local to Dallas/Fort Worth (DFW) with 20+ support team members, collaborating between our corporate headquarters and onsite properties
Vertically-integrated asset management & operations
In-house construction arm to mitigate rising labor & supply costs (proven method across 4 properties in current DFW portfolio)
In-house landscaping arm (#1 method to increase curb appeal to raise property value, increase traffic, and retain residents, thereby commanding higher rents)
Proven results through conservative underwriting (Never missed a distribution during COVID pandemic!)
Hands-on "boots on the ground” asset managers local to Dallas/Fort Worth (DFW) with 20+ support team members, collaborating between our corporate headquarters and onsite properties
Vertically-integrated asset management & operations
In-house construction arm to mitigate rising labor & supply costs (proven method across 4 properties in current DFW portfolio)
In-house landscaping arm (#1 method to increase curb appeal to raise property value, increase traffic, and retain residents, thereby commanding higher rents)
Proven results through conservative underwriting (Never missed a distribution during COVID pandemic!)
If you still have questions or concerns, what better way to work through them than with a one-on-one call with one of us?
We are available to you to explain things further, answer your final questions, and help guide you through the next steps.
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DISCLAIMER NOTICE
This Business Plan contains privileged and confidential information and unauthorized use of this information in any manner is strictly prohibited. If you are not the intended recipient, please notify the sender immediately. Without prior permission from Luna Vista Apts, LLC, no person accepting this document shall release or reproduce (in whole or in part) this document, discuss any information contained herein, make representations or use such information for any purpose other than to evaluate the company’s business plans as provided herein. By accepting this document, the recipient agrees to keep confidential all information contained herein or made available in connection with any further investigation. Upon request, the recipient will promptly return to the company all materials received from the Sponsors and their representatives (including this document) without retaining copies thereof.
This Business Plan is for informational purposes and not intended to be a general solicitation or a securities offering of any kind. Prior to making any decision to contribute capital, all investors must review and execute all private offering documents.
Potential investors and other readers are cautioned that these forward looking statements are predictions only based on current information, assumptions and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by such forward looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. These forward-looking statements are only made as of the date of this Business Plan and Sponsors undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
The information contained herein is from sources believed to be reliable, however no representation by Sponsors, either expressed or implied, is made as to the accuracy of any information on this property and all investors should conduct their own research to determine the accuracy of any statements made. An investment in Ariva Apts LLC will be a speculative investment and subject to significant risks and therefore investors are encouraged to consult with their personal legal and tax advisors. Neither the Sponsors, nor their representatives, officers, employees, affiliates, sub-contractor or vendors provide tax, legal or investment advice. Nothing in this document is intended to be or should be construed as such advice.
DISCLAIMER NOTICE
This Business Plan contains privileged and confidential information and unauthorized use of this information in any manner is strictly prohibited. If you are not the intended recipient, please notify the sender immediately. Without prior permission from Luna Vista Apts, LLC, no person accepting this document shall release or reproduce (in whole or in part) this document, discuss any information contained herein, make representations or use such information for any purpose other than to evaluate the company’s business plans as provided herein. By accepting this document, the recipient agrees to keep confidential all information contained herein or made available in connection with any further investigation. Upon request, the recipient will promptly return to the company all materials received from the Sponsors and their representatives (including this document) without retaining copies thereof.
This Business Plan is for informational purposes and not intended to be a general solicitation or a securities offering of any kind. Prior to making any decision to contribute capital, all investors must review and execute all private offering documents.
Potential investors and other readers are cautioned that these forward looking statements are predictions only based on current information, assumptions and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by such forward looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. These forward-looking statements are only made as of the date of this Business Plan and Sponsors undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
The information contained herein is from sources believed to be reliable, however no representation by Sponsors, either expressed or implied, is made as to the accuracy of any information on this property and all investors should conduct their own research to determine the accuracy of any statements made. An investment in Ariva Apts LLC will be a speculative investment and subject to significant risks and therefore investors are encouraged to consult with their personal legal and tax advisors. Neither the Sponsors, nor their representatives, officers, employees, affiliates, sub-contractor or vendors provide tax, legal or investment advice. Nothing in this document is intended to be or should be construed as such advice.