Elliot Cocoplum

Coconut Creek, FL

Part of the Ashcroft Value-Add Fund III

 

360 Units

Built in 1986

Value-Add Plan

 

Investment Summary

Ashcroft Capital has identified Advenir at Gateway Lakes (“Halston Lakeside”) and Advenir at Cocoplum (“Elliot Cocoplum”) (collectively, the “Properties”) as the 2nd and 3rd acquisitions within the Ashcroft Value-Add Fund III. 

Consisting of a total of 718 units, the Properties offer exposure to some of Florida’s strongest and most desirable markets. Halston Lakeside, located in Sarasota, and Elliot Cocoplum, located in Coconut Creek (Fort Lauderdale metro), are continuing to benefit from the strong momentum and fundamentals seen throughout Florida. 

Halston Lakeside, built in 1996, and Elliot Cocoplum, built in 1986/97, are two high-quality institutional assets. Both of the Properties present an immediate opportunity to bring rents to market level, elevate and modernize the amenity areas, and renovate units to a high-end scope.  

 

Download the Property Overview

 

 

 

 

 

 

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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 8.0%

Levered IRR (Net)

13% to 18%

Equity Multiple (Net)

1.45x to 2.0x

Annual Cash-on-Cash Projections**

Year 1:

4.0%

Year 2:

6.3%

Year 3:

7.0%

Year 4:

7.5%

Year 5:

8.0%

 

*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 starting at 50% and up to 65%, dependent on the total investment amount, of the remaining proceeds from disposition up. This tier has a lower coupon but provides greater participation upon disposition or capital event compared to Class A Limited Partners.

If you invest more with us, you get more potential upside on your returns. See the structure in the chart below:

AVAF3 - Class B Waterfall

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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 Capital LLC is not an investment adviser or a broker-dealer and is not registered with the U.S. Securities and Exchange Commission. The information presented herein 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 presented herein constitutes legal, accounting or tax advice or individually tailored investment advice. The recipient of this information assumes responsibility for conducting its own due diligence and assumes full responsibility of any investment decisions.

About Ashcroft Capital

Ashcroft Capital focuses on capital preservation while striving to return strong, risk-adjusted cash on cash to investors. The firm specializes in value-add real estate and has an expertise in extracting maximum value from every asset it acquires.

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