The Wonderyard at Lockhart #multifamily #realestate #buildtorent #assets #debt #investing #fyp #foryoupage

Let's take a look at our Bill Tourette development in Lockhart, Texas, the Wonder Yard. The Wonder Yard totals 156 units comprised of 78 duplexes. They are complete with an entire green space and tenants have the luxury of their own garage. We're targeting a seven-year hold equating to about a 17.1 annualized return and a 2.05 equity multiple. This is located in the Austin MSA and we closed on the property in October of 2023. Unique to this property is a built-in mechanism to get investors a lot of their money back early and so shortly after the completion of construction we anticipate taking a lump sum of capital out of the deal through a refinance, giving those dollars back to the investor and then leaving in a portion of their money for continuous cash-on-cash to follow. It's a unique scenario but a development that we're very excited about. Our partner is Wildhorn Capital. We've aligned with some great contractors. We look forward to this one moving forward.