SF Bay Area New Residential Units

Preferred JV Equity Package of 3 Multi-Family Developments


Investment Summary

ENDVEST is pleased to offer a $30,000,000 JV Equity investment opportunity to capitalize on three (3) development projects comprised of 298-units the San Francisco, California Bay Area. The projects are all located within a mile of each other in El Cerrito, CA, just north of Berkeley, currently the fastest market in the Bay Area according to OneRent.

New studio, 1 and 2 bedroom units will be at less than half the rates in San Francisco and will offer beautiful skyline of the city, garages, bike storage, fitness centers, party rooms, and best of all, walking distance to BART that is a 31-minute ride to San Fran and only a 10-minute ride to UC Berkeley campus.

The lack of sufficient housing in the Bay Area has created an unprecedented spike in rental rates in San Francisco making it very difficult for even well-paid tech staff to afford reasonable and safe rentals in the area. Students at UC Berkeley are forced to live up to an hour away from campus because of extreme lack of housing nearby.  With entitlements in hand, this investment has minimal risk and tremendous upside because it serves as an effective solution to a severe housing problem: residential units close to BART and other transit options where rents are lower but the space and amenities are abundant.

Construction Debt

You can also participate in this project as debt provider.

A total of $68 million in construction financing will be sought for the three (3) sites totaling 298 units. With a loan-to-cost (LTC) ratio of only 67% and a build-out of less than 18 months, this is an excellent opportunity for the right lender seeking relatively safe but profitable investment options.

Portfolio Details

Stage Ground-Up Development
Properties 3 Lots
Class Residential Rentals
Total Units 289 Units
Total Rentable SF 195,115 sqft
Parking Space 266 Spots

Equity Investment Highlights

Min Investment $5,000,000
Target Raise $30,000,000
Deal Size $102,000,000
IRR 27.0%
Equity Multiple 1.61x
Investment Period 24 Months

Debt Investment Highlights

Min Investment $10,000,000
Target Raise $68,000,000
Deal Size $102,000,000
IRR 67%
Stabilized Return on Cost +7.0%

Location

Contact Us for More Information

If you would like to receive the investment package with full details regarding this portfolio click below and complete the form below. You will receive a link to digitally sign an NDA afterwards.

* indicates required


Share this Project

Share this Project