North Branch Fox Run
21.8%
Projected IRR
1.25
Projected Equity Multiple
15 Month
Investment Period
Offering Summary
The Project is a single-phased development of single-family homes: upon completion the Project is expected to include 30 units. The Project involves the purchase of the Site in North Branch, Minnesota. North Branch is a growing residential market located approximately 45 minutes north of Minneapolis by car. The Site was a semi-distressed asset as the prior owner was developing the land on a part-time basis and struggling to get the project off the ground. The Site has already been developed including entitlements, grading, utilities, and street installation.
The site holds 34 lots to be developed into single-family homes. Centra Homes, LLC an affiliate of the Company purchased the first four lots and has already commenced construction. This was intended to give the project momentum for the Company. Centra Homes already sold the first home at its expected retail price.
The Company is purchasing the remaining 30 pre-developed lots. Two of the lots have already been purchased and construction on the first homes began the first month of purchase. The Company will utilize the Centra System to efficiently build and sell all 30 homes in an estimated 15 months.
Targeted IRR: 21.8%
Targeted Equity Multiple: 1.25
Targeted Investment Period: 15 months
Preferred Return: 8%
Hypothetical $100,000 Investment
The table below shows the full 15 month projected distributions of preferred return, return of capital and pro-rata share of 50% of profits.
For every $100,000 invested, we are projecting total returns will be $24,893.