CF James DST

Richardson, TX

Property Description

Built in 2020, the Property is a 415-unit apartment community situated on 14.96 acres with 569 parking spaces, including 115 attached garage spaces. The Property is 93.0% occupied with an average monthly rent of $1,842.

Acquistion Details

Total Equity

$51,875,000

Total Debt

$59,400,000

Total Value

$111,275,000

Loan-to-value

53.4%

Units

415

Occupancy (as of 02/13/2024)

93.00%

Financial Details

Purchase Price

$99,000,000

Reserves

$3,390,858

Loan interest rate

5.38%

Maturity Date

March 1, 2034

Interest Only Through

March 1, 2034

Business Plan

The principal objectives of the Trust are to (a) distribute to the Investors annual cash flows, as described in the Targeted Results of Operations for the Property and Return to the Investors (the “Targeted Results”) attached as Exhibit A to this Memorandum, (b) manage the Property in a manner consistent with prudent real estate management in order to maintain the Property’s long-term value, and (c) sell the Property prior to the maturity date of the Loan. There can be no assurance that any of these objectives will be achieved.

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