PROJECT:
THE VILLAGE APARTMENTS
FOREST LAKE, MN
ABOUT:
The Village Apartments is a 252-unit, 1970s-era complex in Forest Lake, MN, a growing Twin Cities suburb.
Acquired for $24.5M (well below its $33.1M assessed value), this C+ asset is located in a B+ area and features
significant upside through unit renovations, operational efficiencies, and billing improvements (RUBS
implementation). The strategy includes renovating 75 units, reducing inflated operating expenses, and
implementing tax appeals to improve NOI. The projected hold is 5–8 years with strong returns across all investor
classes. This offering is now closed and was oversubscribed.
EXPECTED RETURNS:
Projected ARR:
Class A1: 18–19%
Class A2: 17–18%
Class A3: 16–17%
Preferred Returns:
Class A1: 8%
Class A2: 7%
Class A3: 6%
Equity Multiples (based on 5-year hold):
Class A1: 1.95x
Class A2: 1.90x
Class A3: 1.85x
ABOUT:
Deal Type: Real Estate (Multifamily Value-Add)
Valuation: $33.1M
Expected Raise: $10.1M
Min. Investment: $100,000-$500,000
PROJECT LINKS:
