FASD-“1st” Avenue Apartments San Diego LP- Currently Raising Modified Equity Funds
We are pleased to offer 1st Avenue Apartments San Diego LP (FASD) as a “Modified Equity” Investment only, raised in two tranches. No preferred capital investments will be offered in this project.
See offering for further details on the investment model for this project. The first tranche is being raised now and the second tranche in 6 to 9 months. Every investor must invest in both tranches. “Modified Equity Capital” will receive a preferred accrual of 8% and will also receive 50% of prorate profits.
This development project is in the core of one of the most sought after rental markets in San Diego (Hillcrest). The property is located 3 blocks from both Scripps Mercy Hospital and UC San Diego Medical Center, as well as, only a block or two north of the retail shops and restaurants on Washington St., Fourth Avenue and University Avenue. Due to the superior location of this project, we are anticipating some of the highest rents of all San Diego. The project consists of tearing down a house and developing 18 apartments. All demo, construction, and lease up will be completed in the first eighteen months. The goal will be to sell the asset near the end of the 3rd year.