A Rare Value-Add Opportunity — Acquiring for under $59K per door, reflecting roughly a 35% discount at acquisition.
Purchase Price: $16,950,000
Cost per door: $58,854
Recent CAPEX: $3,850,000
Hold Period: Five Years
The Grove Apartments is a 288-unit multifamily community located in Victoria, Texas, directly across from our Fergmar corporate office.
We are acquiring the property in a forced sale at an exceptional basis $16.95 million ($58,854 per unit) creating an extremely compelling value-add opportunity.
The property has already undergone $3.85 million in capital improvements, providing a strong foundation for immediate operational and rent-growth upside.
Our business plan focuses on:
With in-place rents 21 % below market, The Grove offers investors clear, near-term value creation through measurable, scalable improvements.
| Metric | Tier One | Tier Two (250K plus investment) |
|---|---|---|
| Target IRR | 22.83% | 26.34% |
| Equity Multiple | 2.25x | 2.52x |
| Average Annual Return | 25.06% | 30.36% |
| Hold Period | 5 Years | 5 Years |
| Debt Structure | 36-month interest-only note at 7.4%, with projected cash-out refinance | |
| Projected NOI Growth | 46% within 24 months | |
| Underwriting | Conservative – 6.25% entry cap / 6.50% exit cap |
Disclaimer:
All figures are projections and not guarantees. Refer to the Private Placement Memorandum for complete offering details.
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This offering is open to accredited investors only. All investments involve risk. Please review offering materials carefully before investing.
Founded one of NYC’s top five privately held residential brokerages with $1.5B+ in transactions and 20+ years of experience. He now leads a global team focused on multifamily and investment strategy.
20+ years of experience. Built Fergmar Capital from a single flip into a portfolio of 1,100+ multifamily units and $110MM+ AUM. Deep operational expertise and local focus in Victoria, TX.
NEWSLETTER
The information provided on this page is for educational and informational purposes only and does not constitute an offer to sell or a solicitation to buy any securities.
Investment opportunities are offered exclusively through Fergmar Capital (or its affiliates), which serves as the sponsor and manager of such investments.
Michael Meier, through Meier Capital, participates as a General Partner and co-principal in select Fergmar Capital–sponsored projects.
All real estate investments carry risk, including the potential loss of principal. Past performance is not indicative of future results.