Altnvest
LibraryStarboard Bradley DST
Back to Offering

Offering Summary

Processed

Starboard Bradley DST

Preview Report

Starboard Bradley DST is a 144-unit multifamily offering in Richland, WA completed in 2024. Total offering capitalization is $41,868,000 with a Year 1 projected distribution rate of 4.43%.

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%
Yr 1
Yr 1 4.43%

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

The property

144-Unit 2024 Multifamily Asset in Richland, WA

$34,700,000 acquisition price

Starboard Bradley DST

Multifamily - Garden-Style / Low Rise

The property was completed in 2024.

355 Bradley Blvd., Richland, WA 99352

355 Bradley Blvd., Richland, WA 99352

144 unitsMultifamily - Garden-Style / Low Rise

$34,700,000

100.0% of portfolio

Seller
—
Property manager
starboard-realty.com
Sponsor

Starboard-realty.com

Asset Type

Multifamily - Garden-Style / Low Rise

Location

355 Bradley Blvd., Richland, WA 99352

Units

144

Property Age

The property was completed in 2024.

Offering Price

$41,868,000

Offering Debt

$19,298,000

Offering Equity

$2,550,000

Offering LTV

46.09%

Income % (Yr. 1)

4.43%

Avg. Income (Full Term)

—

Minimum Cash Investment

—

Minimum 1031 Investment

—

Strengths

  • Brand-new 2024 construction vintage for 144 units
  • Targeted Year 1 distribution rate of 4.43%

Concerns

  • Total offering price reflects a 6% load over base pricing
  • Going-in acquisition cap rate is 4%