CF Pearland DST

Property Description

Built in two phases in 2008 and 2011, the Property is a 234-unit apartment community totaling 219,624 net rentable square feet, situated on 6.1 acres with 422 parking spaces, including 104 carports. The Property is 93.6% occupied with an average monthly rent of $1,626.

Acquistion Details

Total Equity

$22,025,000

Total Debt

$21,375,000

Total Value

$43,400,000

Loan-to-value

49.3%

Units

234

Occupancy (as of 6/02/2023)

93.6%

Address

11200 Broadway St, Suite 2400, Pearland, TX 77584

Financial Details

Purchase Price

$40,250,000

Reserves

$1,244,500

Loan interest rate

5.82%

Loan term

10 years

Interest only period

10 years

Business Plan

The principal objectives of the Trust are to (1) distribute to the Investors annual cash flows, as described in the Targeted Results attached as Exhibit A to this Memorandum, (2) manage the Property in a manner consistent with prudent real estate management in order to maintain the Property’s long-term value and, (3) 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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