Arrowpoint is pleased to present The Elora Flats & Townhomes (currently known as Legacy Park and will be rebranded at acquisition), a fully stabilized 104-unit multifamily asset located at 112-114 Marston St. Built in 2009, this property offers a modern and well-maintained asset, with current market rents below potential, providing immediate upside through rent increases and market adjustments. The property is 96.2% occupied, generating strong in-place cash flow. The purchase price is $30,200,000, which will be capitalized by $23,000,000 in senior debt and $9,141,400 in equity. Rent growth is expected as the property moves closer to market rates.

The asset is being acquired completely "off-market", as Arrowpoint leveraged its relationship with the broker and securing a deal prior to it being offered to the general public.

This Class B asset benefits from a strong location in a highly desirable neighborhood, with proximity to major employment centers, retail, and transportation routes. The asset's 104 units are a mix of 1, 2, and 3-bedroom units, with rents averaging $2,154 per unit. Investors will see immediate upside potential through rent adjustments that close the gap between in-place rents and market rates, creating a significant opportunity for future growth and value creation. The property offers 8.01% projected cash-on-cash return in Year 1, with an IRR of 16.01% and an equity multiple of 2.47x over the 7-year hold period, presenting a highly attractive investment opportunity.

The Elora Flats & Townhomes provides a rare opportunity to invest in a high-quality asset with a strong potential for rent growth, strategically located in one of the most desirable and fastest-growing neighborhoods in the region. Investors can expect stable cash flow and a strong risk-adjusted return profile.