Overview

{"root":{"children":[{"children":[{"detail":0,"format":0,"mode":"normal","style":"","text":"Arrowpoint Properties (the “Sponsor”) is seeking to raise approximately $2,550,000 of equity to acquire Arrowpoint at Ashton (formerly known as\nAshton Place) (the “Property” or “Ashton”), a 30-unit, garden-style community located in Methuen, MA. The total purchase price of the property is\n$7,100,000 presenting investors with an opportunity to acquire a highly sought-after asset type in a market that Arrowpoint has been operating in\nfor over twenty years.\n\nArrowpoint considers this asset type as a “light value-add”. This is a strategy with which Arrowpoint’s team is very familiar and has seen significant\nsuccess over the last two decades. Arrowpoint intends to operate the asset over a five-year hold period, with most of the value-add plan executed\nin the first year of ownership.\n\nArrowpoint’s principals are seeking to obtain debt financing from Freddie Mac, originated by Marcus & Millichap Capital Markets (MMCM). They\nhave offered very attractive terms with an initial loan amount of $4,970,000 at a fixed interest rate of 5.93% which will be interest only for the first 3\nyears.\n\nArrowpoint anticipates a sale by the end of year five at a projected exit CAP rate of 6.00%.\nThe sponsor expects this asset to cash flow immediately, producing an attractive first year cash-on-cash return above 6%. Over the five-year hold\nperiod, investors should expect to average close to 7.50% cash-on-cash and an internal rate of return (IRR) of 15%.","type":"text","version":1}],"direction":"ltr","format":"","indent":0,"type":"paragraph","version":1}],"direction":"ltr","format":"","indent":0,"type":"root","version":1}}