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Magnolia @ Lexington

Minimum Investment
$100,000

Target Hold
30 months

Annualized Returns
40.00%

100% Funded

Project Summary

Overview

The Magnolia at Lexington Apartments project is a 4-story, 33-unit apartment building with attached parking garage for all tenants. The size of the units and smaller development appeal to the Millennial renter and those seeking a Downtown Lifestyle, as well as being conveniently located to restaurants, entertainment, fitness facilities and shopping. There is a current lack of competitive supply of available units in the immediate area.

Tenacity Holdings is seeking an Equity Investment of $2,301,786. The senior debt will be $2,301,000 for a total budget of $4,602,786. Construction is expected to take 12 months with lease-up projected for 6 months after that. Tenacity Holdings expects to hold the building for 30 months (including construction time) and sell the stabilized building for $4,808,702. The Equity Investor will receive 100% of their investment as well as an Investor Return of $360,959 after the sale of the building.

Retirement Community will consist of:

  • 33 Class A Rental Units, targeted for the Millennial renter.

Estimated Development Budget:

  • Debt $2,301,786
  • Equity $2,301,000
  • Total Budget $4,602,786

Amenities:

  • 10’ ceilings
  • 8’ doors
  • Premier appliance and fixture packages
  • Energy efficient appliances
  • Granite countertops
  • European cabinets
  • Walk-in closets
  • Modern plumbing fixtures
  • Washer / Dryers
  • Sound eliminating wall system
  • High speed internet access
  • Building security access
  • Secured garage parking access for each unit

By the Numbers

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Tenacity

Tenacity Holdings
11950 75th Street NE
Otsego, Minnesota 55301

(651) 492-3548 | Tessa Kennedy
(763) 607-6800 | Mark Ketchum

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Our Partners

  • The Phoenix Group
  • The George Group North
  • Chestnut Cambronne
  • Silicon Prairie Portal & Exchange

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