https://speakerdeck.com/mikegilman84 2023-05-22 12:23:18 -0400 Cross Mountain Capital (the “Sponsor” and “Fund Manager) is pleased to offer the opportunity for investors to participate in the New England Income Multifamily Fund - The Bennington Portfolio. This Off-market portfolio was sources from the largest holder of real estate in the town of Bennington, a picturesque town with a .4% vacancy rate on the border of NY and VT, where we have not had the opportunity to buy assets at scale until now where we have been able to establish a relationship with the largest property owner in Bennington who is looking to retire. The portfolio was previously professionally managed and is fully occupied with strong in-place cash flow, which will allow for distributions starting in the first quarter following closing There is also room for rent growth and we expect to hit north of 10% cash on cash returns to investors before a refinance, where we will target a return of capital of ~50 and continue to cash-flow north of 8% per year until sale. This region has a paucity of professional investors because of the difficulty of managing and executing in a remote market where the average sized multi family is a 4plex. At the same time, the region has benefited from historic growth since Covid putting incredible pressure on inventory and limited to nonexistent new construction place significant organic growth pressure on real estate values. Cross Mountain Capital and its wholly owned property manager and construction company has been a pioneer in this region for the last decade bringing double digit cash on cash returns and realized IRRs over 50% to investors. We currently operate over 300 units in Vermont (over 1,000 combined across markets) with a buy and hold long term strategy for perpetual high cash flow. Cross Mountain Capital (the “Sponsor” and “Fund Manager) is pleased to offer the opportunity for investors to participate in the New England Income Multifamily Fund - The Bennington Portfolio. This Off-market portfolio was sources from the largest holder of real estate in the town of Bennington, a picturesque town with a .4% vacancy rate on the border of NY and VT, where we have not had the opportunity to buy assets at scale until now where we have been able to establish a relationship with the largest property owner in Bennington who is looking to retire. The portfolio was previously professionally managed and is fully occupied with strong in-place cash flow, which will allow for distributions starting in the first quarter following closing There is also room for rent growth and we expect to hit north of 10% cash on cash returns to investors before a refinance, where we will target a return of capital of ~50 and continue to cash-flow north of 8% per year until sale. This region has a paucity of professional investors because of the difficulty of managing and executing in a remote market where the average sized multi family is a 4plex. At the same time, the region has benefited from historic growth since Covid putting incredible pressure on inventory and limited to nonexistent new construction place significant organic growth pressure on real estate values. Cross Mountain Capital and its wholly owned property manager and construction company has been a pioneer in this region for the last decade bringing double digit cash on cash returns and realized IRRs over 50% to investors. We currently operate over 300 units in Vermont (over 1,000 combined across markets) with a buy and hold long term strategy for perpetual high cash flow. Thu, 08 Jun 2023 00:00:00 -0400 https://speakerdeck.com/mikegilman84/bennington-multifamily-portfolio-investment-memo-506-c https://speakerdeck.com/mikegilman84/bennington-multifamily-portfolio-investment-memo-506-c Mon, 22 May 2023 00:00:00 -0400 https://speakerdeck.com/mikegilman84/bristol-renovations-before-and-after-1 https://speakerdeck.com/mikegilman84/bristol-renovations-before-and-after-1