Offering Overview – The Grove Victoria 

The Grove Apartments is a 288-unit multifamily community in Victoria, Texas, located directly across from our corporate office. The property will be purchased in a forced sale for $16.95M, creating an immediate margin of safety for investors. It has already benefited from $3.85M in recent capital improvements, positioning it for strong operational and rent-growth upside.

We’re buying for under $59K per unit, while comparable stabilized properties are trading around $90K per unit reflecting roughly a 35% discount at acquisition.

Our business plan focuses on renovating the 260 remaining units, completing select amenity upgrades, and driving operational efficiencies to elevate the property to market standards. With in-place rents 21% below market, investors gain a clear and measurable path to near-term value creation and long-term income stability.

Key Highlights

• Target IRR: 26.34% | Equity Multiple: 2.52x | Average Annual Return: 30.36% (Tier Two)
• Target IRR: 22.83% | Equity Multiple: 2.25x | Average Annual Return: 25.06% (Tier One)
• Hold Period: 5 Years with refinance at year 3 returning most of initial capital.
• Projected NOI Growth: 46% within 24 months
• Conservative Underwriting: 6.25% entry cap / 6.50% exit cap

Why Victoria, TX?
Victoria ranks among the “7 Most Recession-Proof Cities in the U.S.” thanks to its diversified employment base spanning energy, manufacturing, healthcare, and education. Positioned between Houston, Austin, San Antonio, and Corpus Christi, it serves as a regional hub for more than 91,000 employees.

Why Fergmar?
With over 1,000 local doors under management and 500,000+ sq. ft. of commercial space, Fergmar Capital combines hyper-local expertise with disciplined operations. Our vertically integrated team has managed full-cycle projects across all Victoria submarkets for nearly two decades, driving consistent returns through hands-on execution.