Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
The private markets investment platform Yieldstreet has launched a new offering for a multifamily property located in Charlotte, North Carolina.
The Commons at University Square is a 276-unit multifamily, garden-style property located in Charlotte, North Carolina, a city that has experienced a boom in population and industry over the course of the past decade.
The property offers resort-style amenities, including a fitness center, clubhouse, sundeck and pool, grilling area, tennis courts, lounge and an on-site laundry facility. The property consists of 72 standard one-bedroom units, 96 deluxe one-bedroom units, 72 standard two-bedroom units and 36 deluxe two-bedroom units.
The property is ripe for value-adding with planned upgrades and increased rent revenue to match the market. Offering sponsor GVA Real Estate Group plans to invest $2.6 million in renovations, including modern finishes, upgrades to plumbing and lighting and installation of cabinets, countertops, backsplashes, flooring and stainless steel appliances. Seventy percent of the units will be renovated.
GVA plans to raise the rents by an average of $250 to $350 per unit to bring them to market rate. Over the last decade, Charlotte’s population has increased by nearly 20%. In close proximity to the property are over 77,000 jobs, 500 employers and a student population of 30,000, providing the security of economic diversity to the property.
- Minimum investment: $15,000
- Target internal rate of return (IRR): 15% to 17%
- Target equity multiple: 1.55x-1.75x
- Target investment term: 36 months
GVA Real Estate Group, sponsor of the investment, is a full-service, vertically integrated real estate company that focuses on multifamily properties.
The company has funded 233 deals totaling $4.89 billion. GVA manages 24,800 units in 128 properties valued at $3.05 billion. GVA is retaining 39% of the equity in the transaction.
Photo: Courtesy of GVA Real Estate Group
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!