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The Barons

Part of the Ashcroft Value-Add Fund II

508 Units

Built in 1999

Value-Add Plan

Investment Summary

The Barons is a 508-unit property built in 1999 and located in the Mesquite submarket of Dallas, TX. Mesquite offers residents an excellent amenity base, great schools, and easy commutes to major employment centers of DFW. The property is only twelve minutes from Downtown Dallas, while remaining proximate to local demand drivers such as Dallas CBD, CityLine, the Telecom Corridor, and Forney Road Industrial District. The Property has excellent visibility at the intersection of U.S. 80 and I-635, providing residents with desirable access to top local employers and entertainment centers. Another major driver to The Barons and Mesquite in general, is the Mesquite Independent School District. Many people with children chose to live in Mesquite as opposed to the adjacent Dallas County due to the superior schools.

Download the Investment Summary

 

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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.