Successfully Exited Investment Project 2020 – Tierra Bella Multifamily
INVESTMENT PROJECT INTRO
Tierra Bella Apartments (RARE Apartment) is being acquired as an off-market joint venture for $15,655,154, or $76,741 per unit for 204 units.
Tierra Bella offers investors the opportunity to acquire a property in the booming market of Austin, Texas. The property is located in the northeast submarket of the city in an area experiencing rapid change, new construction, and private investment. Tierra Bella is located just 5 miles from downtown Austin and only 3.5 miles from the impressive Mueller Master Planned Community & Development. Mueller, one of Austin’s premier growth hubs and employment drivers, just announced the relocation of Texas Mutual Insurance Headquarters. The four story 270,000 SF campus is projected to begin construction in early 2017 and be completed by the end of 2018, creating 600 jobs. Other major employers within a 6-mile radius include the University of Texas, St. David’s Healthcare, Austin American Statesman, Seton Healthcare, HomeAway, Mass Relevance, Cirrus Logic, and Dell Children’s Medical Center.
DETAILS ABOUT PROJECT
- Project Size $18,210,000
- Individual Contribution $100,000+
- Interest Start Date July 2016
- Project Close-Out Date Jan 6th, 2020
- Investment Catagory Equity
- Status Successfully Paid Out
- PROPERTY TYPE: Multifamily
- INVESTMENT PROFILE: Acquisition
- INVESTMENT CATEGORY: Equity
- TARGETED INVESTMENT PERIOD: 3 Years
- MINIMUM INVESTMENT: $100,000