Investment Type
Fund
Risk Profile
-
Capital Stack Position
-
Regulation
506(c)
Overview
DEAL: BVCAP NB Investors LLC Equity INVESTOR METRICS Estimated Investor Multiple: 1.8x - 2.0x Estimated Investor IRR: 22% - 26% Estimated Time Frame: 30-42 Months The Property: Landhaus at Gruene The Property will be developed on approximately 17.068 acres of raw land located on the Northeast side of New Braunfels, Texas along the high growth, Interstate-35 corridor within Comal County. On the Property, Bridgeview intends to construct a 365-unit farmhouse style “Class A” multifamily residential community containing market leading amenities which should blend in nicely to its Texas hill country location. The Project will offer exceptional amenities that set the standard in the market. There will be a pickleball court, EV charging stations, private garages, and a dedicated dog park. The architecture, interior design, and amenity spaces are designed to create a sense of community and belonging, making it feel like a true home. Our team has put a lot of effort into ensuring that the project aligns with the local culture and vibe of New Braunfels, which we believe will resonate well with potential residents and provide them with a unique living experience that is unparalleled along the Interstate-35 corridor between Austin and San Antonio. This project was approved by the city of New Braunfels prior to a substantial increase in the city's impact fees for new developments. This increase in impact fees is estimated to be 3x the cost for new developments in the area creating a high barrier to entry. Thus, we don't anticipate seeing many new projects moving forward to compete with us in the short term. The Investment will have monthly closings until complete and the Project is estimated to break ground in the Q1 2024. After the Project has been leased-up and achieved stabilization, the Sponsor intends for the Company to refinance or sell the Property, which is estimated to take 30 - 42 months. After the Project is fully stabilized, Bridgeview intends to make distributions on a quarterly basis until the property is sold. Key Advantage
Target IRR
22–26%
Min Investment
$100,000
Close Date
7/1/2024
Market
Texas
Asset Class
Multifamily
Accepted Investor
Accredited
