260 Unit Multi-Family Project

• 260 units parked at 0.85 parking ratio

• Built in 2015

• Traditional 65% financing with a guarantee, sourced internally

• Proforma from feasibility through lease-up

• 250bps spread over cap rates

• Rental product

• Included underwriting of a landowner; tiered waterfall with a clawback for the seller; a GP/LP Partnership; multi-tiered triggered promote.