Bought well below what it costs to build: $66 a square foot.
Targeting a 22.8% investor IRR, with Talus Properties putting in over half the equity and taking the first loss.
The 22.8% is a projected net investor IRR on a sample $500,000 position, from the offering's model. Not guaranteed.
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Talus Properties bought the building at about $66 a square foot, well below what it would cost to build new.
Distributions are structured quarterly and at exit, not as one check at the end.
Talus Properties puts in over half the equity, on the same terms as you. If the project underperforms, its money takes the hit before yours.
Talus Properties has two exits on record: Cherry Creek East, sold in 2014 at a 95.9% IRR, and Genesee Plaza, sold in 2016 at a 98.9% IRR. Past results do not guarantee future ones.
Talus Properties underwrites to the area's average rent, not the top comparable, so the model is not built on a best case.
$9.37Mtotal project cost, from the offering's model
$14.8Mprojected stabilized value, from the same model
95.9%and 98.9% IRR on Talus Properties' last two exits, both sold. Past results do not guarantee future ones.
Quarterlydistributions, and again at exit
The operator buys the building, holds the general contractor license, and puts its own equity in first.
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