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Carrington Green

Part of the Ashcroft Value-Add Fund II

264 Units

Built in 2004

Value-Add Plan

Investment Summary

Carrington Green is a 264-unit property built in 2004, that is located in the McDonough submarket of Atlanta, GA. McDonough is located in Henry County and is regarded as one of the fastest growing submarkets in Atlanta due to its excellent location in the heart of the I-75 corridor. The I-75 corridor is considered to be one of the Southeast’s most dynamic E-commerce / distribution hubs due to its central connectivity between the Port of Savannah, Atlanta’s Hartsfield Jackson Airport, I-285 & I-75, and major freight rail systems. The submarket is home to over 20MM square feet of E-commerce / distribution facilities that support 70,000+ high paying jobs. McDonough’s multifamily market fundamentals continued to grow at historic rate in 2021. Rents in submarket increased by 16% in 2021 (compared to the national average of 11.3%) and the average household income in the submarket increased to an all time high of $89,0001 .

Download the Investment Summary

Source:

1. CoStar – Carrington Green

 

Ready to Get Started?

Schedule a 1-on-1 call with a member of our investor relations team to learn more. During this call, we will discuss your investment goals, tell you more about our company, and answer any questions you may have about our most recent investment offering. We look forward to assisting you with your passive investing journey.

 

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Targeted Fund Returns*

Cash-on-Cash Returns
(Avg including sale)

13% to 20%

Cash on Cash Returns
(Avg excluding sale)

6.8% to 8.5%

Levered IRR (Net)

13% to 18%

Equity Multiple (Net)

1.5x to 2.0x

Annual Cash-on-Cash Projections**

Year 1:

5.0%

Year 2:

7.0%

Year 3:

7.4%

Year 4:

8.0%

Year 5:

9.0%

 

*Based on 5 year hold for Class B Limited Partner Investment. Target returns represent ranges for base case, downside, and upside scenarios.

**Projected cash on cash returns are based on base case assumptions for the properties within the Fund

Note: Projected returns are based on LP levels of Fund

Return Structure

Investors have the opportunity to invest in Class A and/or Class B Limited Partnership Interests.

Limited Partner (A) - Class A

Class A Limited Partner’s earn a coupon of 9% per annum of such Limited Partner’s investment in Partnership (the “Class A Coupon”). Class A Limited Partners have limited distributions upon disposition of the Property. This tier offers stronger projected cash flow and reduced risk as compared to Class B Limited Partners.

Limited Partner (B) - Class B

Class B Limited Partners earn a coupon of 7% per annum of such Limited Partner’s investment in Partnership (the “Class B Coupon”). Upon the disposition of the Property, after payment of debt, return of Class A and Class B Limited Partner investments, payment of any unpaid Class A and Class B Coupon Amounts, and then, prorata, seventy percent (70%) to the Class B Limited Partners and thirty percent (30%) to the General Partner until such time as the Class B Limited Partners have received a cumulative amount equal to thirteen percent (13%) IRR. Then, Class B Limited Partners will receive 50% of the remaining proceeds from disposition. This tier has a lower coupon but provides greater participation upon disposition or capital event compared to Class A Limited Partners.

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Understanding the
Benefits of Investing in a Fund

  • Spreads out investor equity over multiple acquisitions
  • Greater exposure to investments in various markets and asset classes
  • Ability to invest in different individual property business plans and hold periods
  • Provides the opportunity to participate in upside on property price appreciation upon sale, refinances, and supplemental loans
  • Diversification offers the ability to reduce risks while offering the potential for higher returns
  • Potential tax benefits for investors such as pass-through depreciation opportunities and 1031 exchanges

 

Disclaimer: Ashcroft is not an investment adviser or a broker-dealer and is not registered with the U.S. Securities and Exchange Commission. The information on this website should not be used as the sole basis of any investment decisions, nor is it intended to be used as advice with respect to the advisability of investing in, purchasing or selling securities, nor should it be construed as advice designed to meet the investment needs of any particular person or entity or any specific investment situation. None of the information contained herein constitutes legal, accounting or tax advice or individually tailored investment advice. The reader assumes responsibility for conducting his/her own due diligence and assumes full responsibility of any investment decisions.