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Offering Summary

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HPI Deer Creek DST

Preview Report

HPI Deer Creek DST is offering $27,929,065 in equity to acquire a 312-unit multifamily community in Xenia, OH. The total capitalization is $53,229,065 with fixed-rate debt of $25,300,000.

Capital structure

Offering Equity$30.36M50.6% · $121,449 / unit
Offering Debt$29.64M

Offering price

$60.0M

Price / unit

$240,000

Units

250

Property age

12 yrs

Projected distribution rate

Avg 6.75%

Year-one distribution of 6.25% stepping to 7.20% by year seven.

The property

312-Unit Multifamily Asset in Xenia, OH

$46,000,000 acquisition price

HPI Deer Creek DST

apartment community

Xenia Trails is a garden-style apartment community built in 2005/2008.

1600 Deer Creek Drive, Xenia, OH 45385

1600 Deer Creek Drive, Xenia, OH 45385

312 unitsapartment community

$46,000,000

100.0% of portfolio

Seller
—
Property manager
Hamilton Point Investments LLC
Sponsor

Hamilton Point Investments LLC

Asset Type

Apartment community

Location

1600 Deer Creek Drive, Xenia, OH 45385

Units

312

Property Age

Xenia Trails is a garden-style apartment community built in 2005/2008.

Offering Price

$53,229,065

Offering Debt

$25,300,000

Offering Equity

$27,929,065

Offering LTV

47.5%

Income % (Yr. 1)

—

Avg. Income (Full Term)

—

Minimum Cash Investment

—

Minimum 1031 Investment

—

Strengths

  • 312-unit garden-style multifamily asset
  • Moderate equity raise size of $27,929,065
  • Governed under standard Delaware Statutory Trust structure

Concerns

  • Total offering price reflects a 15.7% markup over property acquisition price
  • Total front-end expenses equal $2,738,084