Current Deals
Current Deals in the Fund
AVP FT Hollow
A preferred equity investment in the construction and lease-up of a 76-unit build-to-rent townhome community located in Blaine, MN. Highly experienced sponsorship group with nearly 100 years of combined development experience in this market and a strong, proven track record.
Deal Structure:
- $8.465MM total investment by the Fund. 18% coupon for 24 months, with 10% current pay and 3% origination fee paid by Sponsor.
- The deal has a 1.4x minimum yield over the life of the investment.
- 32.41% downside protection. Exit valuation can absorb cap rate expansion to 8.25% or NOI erosion upwards of 35% before any principal exposure.
Funded January 2024
$8,465,000
AVP Lamar
The project is fully entitled and sitework is well on its way.Oxford MS has a robust demand for multifamily product,the entire market currently operating at near 100% occupancy. Very strong sponsorship, including localOxford full-time resident, provides incredible knowledgeand relationship base in the community.
Funded June 2024
$6,435,000
Deal Structure:
- $6.435MM total investment by the Fund. 17% coupon for 24 months, with 10% current pay and 2% origination fee paid by Sponsor.
- The deal has a 1.3x minimum yield over the life of the investment.
- 42.02% downside protection. Exit valuation can absorb cap rate expansion to 10.5% or NOI erosion upwards of 45% before any principal exposure.
Assets Under Management
Total Asset Value
$230,575,000
Total Equity Contribution
$47,616,050
Total SQFT
1,253,389
Total Multi-Family Units
573
|
Entity Name
|
Property Type
|
SF
|
Units
|
Value
|
Total Equity Contribution
|
|---|---|---|---|---|---|
|
AVP Ralston LLC
|
Multi-Family
|
34,016
|
24
|
$ 16,000,000
|
$ 4,315,000
|
|
48th investment office LLC
|
Office
|
86,158
|
-
|
$ 13,700,000
|
$ 3,970,000
|
|
AVP Newton QOF LLC
|
Multi-Family
|
27,300
|
52
|
$ 19,000,000
|
$ 6,700,000
|
|
AVP Kearney LLC
|
Industrial
|
45,583
|
-
|
$ 9,900,000
|
$ 3,110,000
|
|
AVP Freeport LLC
|
SFR
|
1,320
|
-
|
$ 450,000
|
$ 90,000
|
|
TRECO Northglenn investment LLC
|
Retail
|
14,472
|
-
|
$ 4,000,000
|
2,100,000
|
|
TRECO Smith road LLC
|
Industrial
|
78,221
|
-
|
$ 10,720,000
|
$ 3,453,000
|
|
AVP HQ LLC
|
Office
|
2,506
|
-
|
$ 1,565,000
|
$ 450,000
|
|
Preferred Equity
|
|
|
|
|
|
|
AVP Dry Creek LLC
|
Industrial
|
479,160
|
-
|
$ 35,000,000
|
$ 2,000,000
|
|
AVP Royal Plaza LLC
|
Multi-Family
|
62,813
|
100
|
$ 10,340,000
|
$ 1,923,050
|
|
AVP Domino LLC
|
Multi-Family
|
149,368
|
223
|
$ 42,900,000
|
$ 4,605,000
|
|
AVP FT Hollow LLC (Fund)
|
Multi-Family
|
143,238
|
76
|
$ 34,000,000
|
$ 8,465,000
|
|
AVP Lamar LLC (Fund)
|
Multi-Family
|
129,234
|
98
|
$ 33,000,000
|
$ 6,435,000
|
|
Total
|
|
1,253,389
|
573
|
$ 230,575,000
|
$ 47,616,050
|