The crowdfunding investment platform Yieldstreet has 7% of funding space remaining in a build-for-rent community in Savannah, Georgia.
The Savannah portfolio will entail the development of 38.5 acres of land into a 142-unit built-for-rent (BFR) single-family homes. Land development began in May 2022 and is expected to be completed by September 2023. The portfolio is expected to be fully leased and stabilized by July 2025 and sold in a single transaction during the first quarter of 2027.
The land was acquired for $15,000 per lot. Total capitalization, including development and construction costs, is projected to be $236,000 per unit. The developers expect to receive a sales price of $329,000 per unit, representing a 40% yield on the total capitalization price.
Savannah is in a growth period, both economically and in population. Population growth is being primarily driven by the increase in industry ...
Full story available on Benzinga.com
Continue reading...
The Savannah portfolio will entail the development of 38.5 acres of land into a 142-unit built-for-rent (BFR) single-family homes. Land development began in May 2022 and is expected to be completed by September 2023. The portfolio is expected to be fully leased and stabilized by July 2025 and sold in a single transaction during the first quarter of 2027.
The land was acquired for $15,000 per lot. Total capitalization, including development and construction costs, is projected to be $236,000 per unit. The developers expect to receive a sales price of $329,000 per unit, representing a 40% yield on the total capitalization price.
Savannah is in a growth period, both economically and in population. Population growth is being primarily driven by the increase in industry ...
Full story available on Benzinga.com
Continue reading...