Vassar & Company Properties (VCP) is excited to introduce "Stoney Creek Highlands," our latest investment opportunity in partnership with Elevate Commercial Investment Group. This exceptional property comprises 278 units of A Class 2008 construction, which we acquired directly from the original developer, who built it on a nearly 28-acre parcel.
Stoney Creek has achieved remarkable success in recent years, maintaining an impressive 99% occupancy rate. This presents an excellent opportunity to enhance the property through interior renovations while increasing market rents to generate a higher net operating income. We believe this strategy will further enhance the property's performance.
To finance the acquisition, a 7-year fixed-interest loan from Freddie Mac was secured. The loan offers a competitive rate of 1.72 over the treasury, with the added advantage of 7 years of interest-only payments. This favorable financing structure adds to the attractiveness of this investment opportunity.
As Co-General Partners, 10% of all distributions received by VCP will go to "The Mordecai Project" which helps heal, empower, and protect women from abuse and oppression around the world.
If you are interested in learning more about Stoney Creek Highlands and joining us in this venture, please don't hesitate to reach out. We look forward to discussing the details with you.
Spots are limited. This investment is a 506(c) offering for Accredited Investors only.
Spots are limited. Reverse now with a $100K Minimum Investment.
Funding is due by July 17, 2023
Property closing: July 24, 2023
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