Commercial real estate crowdfunding platform ArborCrowd announced its latest offering for investors to own an equity interest in a multifamily property with tremendous upside potential. Tower on Ryan Park (the Property) is a 141-unit, high-rise property located in downtown Mobile, AL.
According to ArborCrowd, the total capitalization of the deal is $12.7 million, and the funding portal is raising $2.6 million of equity. The property has a notable targeted 16 percent to 18 percent Internal Rate of Return (IRR) and a projected hold period of three to five years. Adam Kaufman, Co-founder and Managing Director of ArborCrowd, stated:
“ArborCrowd is a company focused first and foremost on the quality of the real estate. We only present institutional-quality deals with strong real estate fundamentals. These are the types of deals sought after by national and international investment firms – but we’re able to offer them to people who would not typically have access to opportunities of this caliber.”
ArborCrowd added that the business plan is to implement a value-add strategy to reposition Tower on Ryan Park from an underperforming 1950’s vintage-style property to a modern, desirable and quality apartment complex.