The real estate was acquired for $65,100,000, with total offering capitalization set at $75,983,939.
Valuation ladder
Acquisition price$65.10M
Offering price$75.98M+16.7%
Cap rate spread & load
Upfront load on offering5.55%
Load on equity10.50%
Load net of reserves-0.33%
Acquisition Price
$65,100,000
Offering Price
$75,983,939
Appraised Value
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Upfront Load
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Load on Equity
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Load on Offering Price
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Acquisition Cap Rate
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Syndicated Cap Rate
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Premium / Discount
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Appraisal / Offering %
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Less Reserves %
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Strengths
- Clear acquisition basis of $65,100,000 for 336 units
- Total capitalization fully identified at $75,983,939
Concerns
- Third-party appraised value is not disclosed
- Acquisition cap rate and yield metrics are not disclosed