Sandy Neck  A joint venture with

 

 

 

 

 

 

 

 Investment Opportunity:

Tidegate Capital and The Cape Companies announce that they have entered into a joint venture agreement to bring to market a strategically located single family Build for Rent investment opportunity.

Tidegate Capital and The Cape Companies announce that they have entered into a joint venture agreement to bring to market a strategically located single family Build for Rent investment opportunity. The parcel is located in Fayetteville, NC on 12.8 Acres and represents 53 units.

With the supply of starter and first-time homes severely limited, first time homebuyers are benefiting from the attractive Build for Rent market, one of the most exciting and highly sought after investment opportunities.

 

Sandy Neck represents an extremely unique and compelling opportunity to invest in the rapidly growing Single-Family Build for Rent subsector of the residential rental housing market in a growing, insulated, and stable market - Fayetteville, North Carolina, home of Fort Bragg.

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Preliminary Projections

 

Return:  8% Preferred Dividend plus 80% of net profit upon disposition*

Holding Period: 5 years

Cash-On Cash: 10.03%

Project Level IRR: 22.23%  

*Project Level IRR above 16% Split is 60/40

 

 

Expected Close on Land Acquisition: May 11, 2021

 

  • Cost: Approx $8,581,000 total project cost inclusive of the $500,000 Land Acquisition price

  • Nearly $8,100,000 Improvements to be made to include:

    • Site Development

    • Home Building

    • Amenities

    • Landscaping and Curb Appeal

    • Working Capital Reserve

    • Due Diligence

    • Soft Costs

 

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