ArborCrowd Turns to Crowdfunding for San Antonio Asset
- Oct 03, 2017
ArborCrowd continues its journey in the southern U.S. and offers accredited investors the opportunity to own equity interests in Quarry Station Apartments, a multifamily property located in San Antonio’s Alamo Heights, formerly known as The Crescent.
The total capitalization of the deal is $40.8 million, with ArborCrowd raising $3.2 million in equity. The community has a targeted 16 to 19 percent Internal Rate of Return (IRR) and a projected hold period of two to four years.
Built in 1993, the 17-building, 306-unit property is situated on roughly 15 acres at 340 Treeline Park. The unit mix consists of one- to three-bedrooms ranging in size from 669 to 1,370 square feet. Common area amenities include a fitness center, business center, clubhouse, playground, swimming pool, spa, laundry services and parking. Units feature washer and dryer connections, vaulted ceilings and private balconies/patios.
Business plan execution
The business strategy for Quarry Station Apartments is to increase its overall value as well as the effective rents to better compete with nearby Class A properties, and then sell it.
“There are very few opportunities for investors to get access to institutional-quality deals,” Ivan Kaufman, co-founder & CEO, ArborCrowd, said in a prepared statement. “Every deal we offer—including Quarry Station—is measured against the standards and benchmarks of what a real estate institution would expect. That’s the difference in what we offer compared to other crowdfunding platforms.”
“Quarry Station has significant potential that our sponsors know how to unlock—that is the key to a successful deal,” added Adam Kaufman, co-founder & managing director, ArborCrowd. “ArborCrowd’s sweetspot is finding multifamily assets that need physical and operational improvements and turning them around at a profit. For the past 30 years, we’ve proven our ability to be successful at this time and time again.”
Video courtesy of ArborCrowd