Greenbriar Investment Summary
The document presents a preliminary investment offering for the Greenbriar Apartments, a 96‑unit, two‑story garden‑style multifamily property located at 4604 Virginia Loop Rd, Montgomery, AL. Built in 1979 and renovated in 2002, the asset sits on 5.43 acres, is 10 minutes from downtown Montgomery, and currently has a 90.6% occupancy rate. The sponsor proposes a value‑add strategy that includes rent increases of $125‑$175 per unit and a series of property upgrades (unit renovations, signage, lighting, landscaping, parking lot repairs, exterior cleaning and painting) managed by Vicinia Management. Two exit pathways are outlined: a refinance or sale after 18‑24 months once NOI is increased, with a possible hold‑to‑sale after five years if financing terms are favorable. Financially, the acquisition price is $5,050,000 with $300,000 in improvements and $5,555,063 total cost, funded by $4,055,063 debt and $1,500,000 equity. The stabilized NOI is projected at $382,265, yielding a market value of $6,486,000 after 18‑24 months and creating $768,788 in equity. The investment offering seeks $1.5 million from capital partners, structured as 15 units at $100,000 each, granting a 3% membership interest per unit and a 7% preferred return. An example scenario shows a $100,000 investment delivering a $37,064 total return (18.5% annualized, 17.6% IRR) over a two‑year horizon. The summary emphasizes that this is a preliminary memorandum for accredited investors, who must review the final Private Placement Memorandum and complete suitability documentation before investing.
Topics
Property Overview and Strategic Location
Details the physical characteristics of Greenbriar Apartments, including unit count, building age, site size, occupancy, and proximity to downtown Montgomery, Maxwell Air Force Base, and local amenities.
Value‑Add Renovation and Management Plan
Outlines the planned rent increases, unit and common‑area upgrades, and the selection of Vicinia Management to execute the value‑add strategy and improve operational efficiency.
Acquisition Cost Structure and Funding Mix
Breaks down the total acquisition cost, including purchase price, improvements, closing costs, acquisition fee, reserves, and the split between debt financing and equity capital.
Investment Offering Terms and Ownership Structure
Specifies the capital raise amount, unit pricing, membership interest per unit, and the 7% preferred return promised to investors.
Projected Financial Returns and Exit Scenarios
Presents the stabilized NOI, projected market value after 18‑24 months, equity creation, and an example return calculation showing annualized return and IRR for a two‑year hold.