Country Club Estates

413 W 11th St  Alexandria, IN 46001

Min. Invest
$50,000
Target Hold
84 mo
Annualized Returns
14.00%
Progress - 0% Pledged
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Country Club Estates

80 unit stabilized apartment complex with garden style and townhouse units with ample opportunity to raise rents.

Investment Type Preferred Equity
70/30 Waterfall Participation
Term 84 Months
Raise Amount $1,400,000
Targeted ROI 14%
IRR 13%

Why Invest?

  1. Significant upside in rent - current rent is below market by $50-$125 adding value immediately upon new lease execution.
  2. Current owner is overseas and has poor management in place. This opens up a great opportunity to streamline processes and increase the net operating income almost immediately.
  3. Minimal Capex needed as the property has been well maintained and is ready to support the increased rent.
  4. Unique townhouse style property allows for much larger square footage than any property in the area which demands higher rent than competition.

Country Club Estates

This investment is projected to return approximately 9% annualized cash on cash return. ADPI Capital will seek disposition in approximately 7 years at which time returns are projected to be an investor IRR of approximately 13%.

Financial Sources

Debt Financing $2,437,500
Private Equity $1,400,000

Financial Uses

Purchase Price $3,250,000
Loan Down Payment $812,000
Closing Costs $48,000
Acquisition Fee $40,000
Financing Fees $55,000
Renovations $45,000
Legal & Accounting Fees $20,000
Third Party Reports $23,000
Working Capital $35,000

Documentation


Property Summary


80 unit apartment complex containing garden style and townhouse apartments on a beautifully landscaped site. The property overlooks a golf course which provides additional rental income for those units. Country Club Estates is adjacent to the middle school and provides some of the area’s only townhouse style apartments. That combined with new management provides a unique opportunity for us to bring this property up to its potential! Country Club Estates offers investors immediate returns and exceptional potential for long-term investment growth.

Address Property Type Property Sq. Feet Bedrooms Bathrooms Year Built Units
413 W 11th St
Alexandria, IN 46001
Multi Unit Residential 0.00 0 0 1972 80

Market Summary

MSA Population - 2015 939,020
Total Employment (Nov 2015) 449,216
Unemployment Rate (June 2016) 4.6%
Ket Industries State Government, Military, Education Health care
Primary Growth Sectors Education, Distribution

 

INDIANA
Indiana methodically created a business environment where conditions
promote success. Whether it’s minimizing operating expenses or delivering
the workforce training and infrastructure required for a company to grow,
Indiana is one of the most business-friendly states in America.

INDIANAPOLIS
The City of Indianapolis is the 13th largest city in the nation according to
2010 U.S. Census data, and one of the fastest-growing metropolitan areas
in the United States (Source: Forbes, 2011). Indianapolis, nicknamed Indy,
is the state capital as well as the largest city in the state. The capital city
was named the 5th most affordable city in the U.S. in 2016 by U.S. News
and World Report. Indy’s tremendous growth as a business center and
its reputation as an amateur sports capital have caught the attention of
cities across the nation. Both Forbes and Livability.com continually rank
Indianapolis as one of the best downtowns in the United States citing “more
than 200 retail shops, more than 35 hotels, nearly 300 restaurants and food
options, movie theaters, sports venues, museums, art galleries and parks” as attractions. An entrepreneurial attitude has enveloped Indianapolis and with it has come great economic vitality. While relishing its success, Indianapolis has remained relatively unspoiled.

ALEXANDRIA
The city of Alexandria, Indiana, in Madison county, is 10 miles North of Anderson, Indiana and 42 miles Northeast of Indianapolis. Local parks near Alexandria include Hoosier Park, Summit Lake Park and Shadyside Memorial Park. Quickly accessible from Alexandria are many higher education schools including Anderson University, Indiana Wesleyan University, and Ball State University.
 

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Investor Tutorial

CERTAIN INFORMATION REGARDING THIS OFFERING

THESE UNITS ARE BEING OFFERED WITHOUT REGISTRATION UNDER ANY FEDERAL OR STATE SECURITIES LAWS, BUT ARE BEING OFFERED UNDER AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND UNDER COMPARABLE EXEMPTIONS UNDER VARIOUS STATE SECURITIES LAWS. HOWEVER, THE SECURITIES AND EXCHANGE COMMISSION (“COMMISSION”) HAS NOT DETERMINED THAT THESE UNITS ARE EXEMPT FROM REGISTRATION. THESE UNITS HAVE NOT BEEN REVIEWED, APPROVED OR DISAPPROVED BY THE COMMISSION OR ANY STATE SECURITIES COMMISSION, NOR HAS THE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY, ADEQUACY, COMPLETENESS OR MERITS OF THIS MEMORANDUM, AND ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THIS MEMORANDUM DOES NOT CONSTITUTE AN OFFER TO SELL TO, OR A SOLICITATION OF AN OFFER TO BUY FROM, NOR SHALL ANY OF THE UNITS BE OFFERED OR SOLD TO, ANY PERSON IN ANY JURISDICTION IN WHICH SUCH AN OFFER, SOLICITATION, PURCHASE, OR SALE IS UNLAWFUL OR UNAUTHORIZED UNDER THE SECURITIES LAWS OF SUCH JURISDICTION.

THE STATEMENTS MADE HEREIN ARE MADE AS OF THE DATE ON THE COVER OF THIS OFFERING MEMORANDUM. THIS OFFERING MEMORANDUM CONSTITUTES AN INVITATION TO THE PROSPECTIVE INVESTOR TO SUBMIT AN OFFER TO SUBSCRIBE. NO PERSON MAY PURCHASE THE UNITS OFFERED HEREBY EXCEPT PURSUANT TO AN EXECUTED SUBSCRIPTION AGREEMENT IN THE FORM PRESCRIBED BY THE FUND, AND THEN ONLY FROM A PERSON TO WHOM THE FUND OR ITS DESIGNATED AGENT HAS DELIVERED A COPY OF THIS OFFERING MEMORANDUM.

THESE UNITS ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED BY THE FUND. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THERE IS CURRENTLY NO PUBLIC MARKET FOR THESE UNITS.

IN MAKING A DECISION TO PURCHASE UNITS HEREUNDER, PROSPECTIVE INVESTORS MUST CONDUCT THEIR OWN INDEPENDENT INVESTIGATION OF THE FUND AND THE TERMS OF THIS OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED, AND ARE ENCOURAGED TO CONSULT WITH THEIR ADVISORS AS THEY WILL BE REQUIRED TO REPRESENT THAT THEY ARE ABLE TO BEAR THE ECONOMIC RISK OF THEIR INVESTMENT AND THAT THEY ARE FAMILLIAR WITH AND UNDERSTAND THE FUNDAMENTAL RISKS AND TERMS OF THIS OFFERING.

NO PERSON HAS BEEN AUTHORIZED TO GIVE ANY INFORMATION OR MAKE ANY REPRESENTATION WITH RESPECT TO THE OFFERING OF THE UNITS WHICH IS NOT CONTAINED OR REFERENCED HEREIN, AND, IF GIVEN OR MADE, SUCH INFORMATION OR REPRESENTATION MUST NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE FUND. POTENTIAL INVESTORS MAY, IF THEY SO DESIRE, MAKE INQUIRIES OF THE FUND WITH RESPECT TO THE FUND’S BUSINESS OR ANY OTHER MATTERS SET FORTH HEREIN, AND MAY OBTAIN ANY ADDITIONAL INFORMATION WHICH SUCH PERSON DEEMS TO BE NECESSARY IN ORDER TO VERIFY THE ACCURACY OF THE INFORMATION CONTAINED IN THIS MEMORANDUM (TO THE EXTENT THAT THE FUND POSSESSES SUCH INFORMATION OR CAN ACQUIRE IT WITHOUT UNREASONABLE EFFORT OR EXPENSE).

July 07 2020

Confidential Offering Memorandum: ADPI

PROSPECTIVE INVESTORS ARE CAUTIONED NOT TO CONSTRUE ANY CONTENTS OF THIS OFFERING MEMORANDUM OR ANY PRIOR OR SUBSEQUENT COMMUNICATIONS, AS CONSTITUTING INVESTMENT, LEGAL OR TAX ADVICE; RATHER THEY SHOULD CONSULT THEIR OWN ADVISORS OR COUNSEL WITH THE CAPACITY TO ADVISE AND PROTECT THEIR INTEREST IN CONNECTION WITH ALL MATTERS CONCERNING THIS OFFERING MEMORANDUM.

THIS OFFERING MEMORANDUM DOES NOT KNOWINGLY CONTAIN ANY UNTRUE STATEMENT OF A MATERIAL FACT OR OMIT A MATERIAL FACT, AND ANY SUCH MISSTATEMENT OR OMISSION IS DONE WITHOUT THE KNOWLEDGE OF THE PREPARERS OF THIS DOCUMENT OR THE FUND. AS SUCH THE FUND BELIEVES THAT THIS OFFERING MEMORANDUM CONTAINS A FAIR SUMMARY OF THE MATERIAL TERMS OF ALL MATTERS, DOCUMENTS AND CIRCUMSTANCES MATERIAL TO THIS OFFERING. WHILE THE DATA AND STATEMENTS CONTAINED HEREIN ARE BASED UPON INFORMATION BELIEVED TO BE RELIABLE, NO WARRANTY CAN BE MADE AS TO THE ACCURACY OF SUCH INFORMATION OR THAT CIRCUMSTANCES HAVE NOT CHANGED SINCE THE DATE SUCH INFORMATION WAS SUPPLIED. THIS MEMORANDUM CONTAINS SUMMARIES OF CERTAIN PROVISIONS OF DOCUMENTS RELATING TO THE BUSINESS OF THE FUND AND THE UNITS OFFERED HEREBY, AS WELL AS SUMMARIES OF VARIOUS PROVISIONS OF RELEVANT STATUTES AND REGULATIONS. SUCH SUMMARIES DO NOT PURPORT TO BE COMPLETE AND ARE QUALIFIED IN THEIR ENTIRETY BY REFERENCE TO THE TEXTS OF THE ORIGINAL DOCUMENTS, STATUTES AND REGULATIONS.