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Lexington Investors LLC

Raised to Date: 
$1,400,000

Min goal
$1,000,000
Stretch goal
$1,400,000
Invest Now
 Funded
ID: 
MN-SCOR-LEX
Exemption: 
SCOR
Accredited Only: 
No
Reviewed Financials: 
No
Issue Type: 
Equity
Minimum Investment: 
$25,000
Target Goal: 
$1,400,000
Minimum Goal: 
$1,000,000
Suggested Investment: 
$50,000
Additional Investments: 
$5,000
Maximum Goal: 
$1,400,000
Raise Start Date: 
Saturday, July 14, 2018
Raise End Date: 
Thursday, August 16, 2018
Raise Target Date: 
Wednesday, August 1, 2018
Business Plan: 
Compiled PPM: 
Subscription Agreement: 

Executive Summary

The investment is a 120 unit apartment building in Lexington, KY.

The asset is currently 76% occupied and will undergo a mid-level renovation in order to maximize investor returns.

  • Purchase Price: $4,175,000
  • Renovation Budget: $724,955
  • Debt Service Coverage year 2: 1.84
  • Loan Amount: $3,850,000

Future Loan: Freddie Mac SBL (proposed)

  • Target Amortization: 30 years
  • Target interest Rate: 6% or less
  • 1 year Interest only

Key Financials based on a 5 year hold:

  • Total Raise: $1,400,000
  • Gross Revenue: $940,743
  • Expenses: $452,019
  • Net Operating Income: $455,724
  • Investor Cash flow average: $32,592/quarter
  • Investor average cash on cash: 9.31%
  • Investor total profit upon sale: $1,353,758
  • Investor ROI: 19.3% Investor IRR: 16.4%

Key Highlights

  • Purchase and renovate non-renovated units to achieve maximum rents and occupancy.
  • Hold property for 5-7 years
  • Neighboring properties have appraised up to $57,600/unit, we are purchasing at $40,833/unit after renovation.
  • Ashland apartments an 84 unit community owned by Venture D Properties (Todd Dexheimer, CEO) and partners, will allow for strategic collaboration and efficiencies.

Ownership Structure: Lexington Investors, LLC

General Partner: Lexington Capital, LLC maintains a 30% ownership with a 2% asset management fee on the gross revenue and a 2% acquisition fee

Limited Partners:

  • shall maintain 70% ownership
  • 8% preferred return
  • 70/30 split after the preferred is paid
  • 7% year 1 preferred return
  • Payments made quarterly