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Tenacity Holdings

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The Fiene Condominiums

Minimum Investment
$100,000

Target Hold
30 months

Annualized Returns
26.00%

100% Funded

Project Summary

Overview

The Fiene Condominiums project is a 21-unit condo building. The size of the units and smaller development appeal to the Millennial, white-collar worker, wealthy retiree buyer/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 $5,277,000. Construction is expected to take 12 months with sale/lease-up projected for 5 months after that. Tenacity Holdings will pursue one of two exit strategies: either to sell the condos individually or hold for 30 months. The Equity Investor will receive 100% of their investment either after the sale of the condo units or after the sale of the building. Returns from the sale of the condos is projected to be 30% ROI annualized or a projected 26% ROI annualized on the leasing and eventual sale/refinance of the building.

Retirement Community will consist of:

  • 21 Class A Condo Units, targeted for the Millennial, white-collar worker, and wealthy retiree buyer/renter.

Estimated Development Budget:

  • Equity $5,277,000
  • Total Budget $5,277,000

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

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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