Part 2: Webinar Recording -
Fir Hill Towers Apartments

251-Unit Multifamily Value-Add Investment Opportunity

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Fir Hill Towers Apartments

Description

The Smartland team is proud to present you with the Fir Hill Towers Apartments, a 251-unit multifamily value-add investment opportunity. The asset consists of 2 towers, reaching 11 & 12 stories high, and is located in Akron, Ohio. The asset is strategically located right outside of downtown Akron in between and within walking distance of two of Akron’s largest employers, Summa Health and The University of Akron.

On this webinar, Smartland’s COO, Steven Gesis, and Vice President Sumit Kovoor will provide insight into the offering and how our comprehensive value-add and operational turnaround strategy will be used to transform and reposition the Fir Hill Towers Apartments.

  • The property is located right outside of downtown Akron in between and within walking distance of two of Akron’s largest employers, Summa Health and The University of Akron.
  • Summa Health’s rapidly growing main campus (undergoing $305M expansion) is located ¼ of a mile from Fir Hill Towers Apartments offering residents a short 5-minute walk to Akron’s largest employer.
  • Each unit will be renovated with modernized and contemporary interiors attracting an affluent and top-tier resident profile.
  • Strong Value-Add Opportunity with the ability to increase rents by up to 30%

Projected Investor Returns

In order to provide investment opportunities that allow you to match your investment goals, we will be offering a two-tiered investment structure for this deal:

*Projected term: Up to 5-years with the following returns:

Class A Limited Partners: $500,000 total minimum investment

Preferred Return9%
Equity Split80/20
Equity Split (after IRR achieved)49/51
Target IRR16%
Equity Multiple2.03x

Class B Limited Partners: $100,000 total minimum investment

Preferred Return9%
Equity Split80/20
Equity Split (after IRR achieved)20/80
Target IRR16%
Equity Multiple2.03x
LEARN MORE

NOTE* The Fir Hill Towers Apartments investment offering is an SEC Reg D 506(c) offering only available to accredited investors.

Disclaimer: All opinions, analysis, or predictions expressed and data provided herein are subject to change without notice. The investments mentioned on this page and in the video may not be suitable for all types of investors. All investments involve different degrees of risk. You should be aware of your financial situations and risk tolerance level at all times. Furthermore, you should read all transaction documents and statements. Read any and all information presented carefully before making any investment decisions. The video and this page are provided for informational purposes only and does not constitute an offer or solicitation to buy or sell securities. Past performance is no guarantee of future results, and current performance may be lower or higher than the performance data quoted. All real estate investments involve different degrees of risk.