Quail Court - Simply Free MD

what we love about quail court

High Occupancy In Place - Quail Court is more than just a housing complex; it is a thriving community. Currently boasting a 94% occupancy rate with in-place rents of $809 and 2% delinquency.

Great Value - We are acquiring this asset at an impressive $32,800 / door.

Amazing Projected Returns – 1.99 EM on a 3-year hold – 27% IRR – 33% AAR

Solid, Proven Partners - The Quail Court Sponsorship team is comprised of 6 key partners, each representing a specific skillset in the execution of real estate business plans. The collective team currently holds a combined $121.5M in assets under management and has experience acquiring multifamily and hotel properties, partnering with land developers and investing in short-term rentals. A long track record of successfully stabilized and exited deals has helped over 107 investors achieve their financial goals. The team targets institutional grade, multifamily acquisitions with large value-add opportunity in high-growth markets which are sourced and qualified internally

the property

Quail Court Apartments is a 108-unit multifamily community well-located in Terrebonne Parish (Houma) Louisiana. Constructed in 1973, the Property is a C Class asset that provides significant upside through economic value-add initiatives.

Spread across the expansive complex are 108 units, each meticulously designed to cater to a diverse range of potential renters. The unit variations of 68 x 1-bedroom, 32 x 2-bedroom, and 8 x 3-bedroom apartments, each equipped with a bathroom, offer choices for singles, couples, and families alike. With an average size of 729 sq. ft per unit, residents enjoy a perfect blend of coziness and spaciousness.

Business Plan

The sponsorship team plans to successfully implement a value-add business plan by upgrading all the electrical panels & breakers, common areas, amenities & lightly renovating 75%+ of the units to a higher level. Similarly, we have successfully negotiated attractive debt and banking relationships and insurance to contain cost. The property will achieve an average rent premium of $123/Mo by investing approximately $3,100/unit. Quail Court provides an exceptional opportunity to complete a light interior renovation program and reposition to the property to one of the best assets in the submarket.

deal highlights

Insurance Arbitrage - By upgrading Stab-Lok breakers and Federal Pacific Electric Panels, insurance premiums will be considerably reduced immediately providing immediate upside to investors

Below Market Rents - With an average rent of $809, the entire property is significantly below market in rent rates. Comps suggest that on average rents can increase by $123/Mo which combined with cost containment strategies translates into $3.4M in value created across the project.
Property Management - The property has strong in-place management that is competent & knowledgeable about the complex. They are ready to transition to a new buyer and are prepared to roll up their sleeves for a value-add strategy.

Well Maintained - This property has been well-maintained with regular annual maintenance, including installation of a new roof and windows in 2022. Its resilient foundation has withstood numerous weather events suffering minimal damage.

Multiple Exit Strategies - Multiple exit strategies provide us opportunities mitigate risk over the life of the investment, allowing us to successfully navigate capital markets or real estate cycle, maximizing investor returns!

Sell - Sell the property as soon as we achieve the targeted EM & IRR.
Refinance - Refinance the property as soon as we have stabilized value-add to provide liquidity to investors while continuing to enjoy appreciation and cashflow.

Hold - Hold the asset beyond the target period and sell when the target returns have been achieved.

projected returns

Disclaimer

At Simply Free MD, it's important for our visitors to understand that we are not certified as a broker or investment advisor under any federal or state regulations, and we don't deal with securities or provide financial advice. Our website serves purely for informational purposes, aiming to keep you informed but not to solicit investments or offer any investment opportunities. Any detailed information about potential investment opportunities with us is shared exclusively through a confidential document intended for individuals who meet certain financial criteria, either as accredited investors or those with a sophisticated understanding of financial matters. We encourage all our visitors to conduct their own thorough research and consult with professional advisors to understand the risks and merits of any investment fully. Additionally, our website may discuss future expectations and plans, which are based on our current views and assumptions. However, these forward-looking statements are subject to numerous factors that could cause actual results to differ materially from our projections. Investing carries risks, including the potential loss of capital, and it's crucial for investors to make informed decisions.