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Union Multifamily

-

Union

,

New Jersey

Prospective purchasers should carefully read this entire Offering Memorandum to fully understand all of the implications and risks of the Offering of securities to which it relates prior to making an investment. Investors should only consider these investments if they have no need for liquidity and can bear the risk of losing their entire investment.

**There is no assurance that stated objectives will be met. Liquidity events are at sponsor’s discretion.

Sponsor

Inland

Cash Flow:

View Cash Flow

Leverage %:

49.85%

Total Raise

$83,672,415.00

Available

$42,591,256

Total Syndication

$149,422,415.00

Minimum Investment:

$100,000

Projected Hold:

7 - 10 Years

DST Type:

506(b)

Year Built

2023

Occupancy

94.70%

Summary

Summit Court Luxury Apartments, located at 1700, 1720, 1725, and 1776 Patriot Way in Union, New Jersey, is a Class A multifamily residential community situated on approximately 15.21 acres at the west corner of Clermont Terrace and Utilities Road. The property benefits from a prime location just two miles south of downtown Union and five and a half miles southwest of Newark, providing residents with convenient access to major employment centers, transit, and lifestyle amenities throughout eastern New Jersey. Constructed between 2018 and 2023, the community consists of two three-story residential buildings, one four-story residential building, and a single-story clubhouse featuring resident amenities. In total, the property includes 393 apartment homes with a combined net leasable area of approximately 351,208 square feet. The unit mix is comprised of 183 one-bedroom apartments, 200 two-bedroom apartments, and 10 three-bedroom apartments, of which 42 units are designated as affordable housing. As of January 17, 2024, the property was approximately 94.7% occupied. Residents have access to 790 parking spaces, including 84 garage spaces, 23 ADA-compliant spaces, and 683 standard surface spaces.

ASSET CLASS

Multifamily

LOAN-TO-VALUE

49.85%

TOTAL RAISE

$83,672,415.00

AVAILABLE EQUITY

$42,591,256

TOTAL SYNDICATION

$149,422,415.00

MINIMUM INVESTMENT

$100,000

PROJECTED HOLD

7 - 10 Years

YEAR BUILT

2023

OCCUPANCY

94.70%

LEASE TYPE

LOAN INTEREST RATE

5.53%

LOAN TERMS YRS

Interest Only

1800 West Loop South
Suite 1700
Houston, Texas 77027
PHONE: 713-984-8044
FAX: 713-984-8048
Privacy Policy
Securities offered through World Equity Group, Inc.
‍
Member FINRA / SIPC
‍
425 N Martingale Rd., Suite 1220
Schaumburg, IL 60173
(212) 388-6200    
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Exponent is not controlled by or a subsidiary of WEG. Exponent  does not provide tax advice or legal advice. Any discussion of taxes herein is for informational purposes. You should consult with an attorney or accountant concerning any tax and/or legal advice.