Amount needed to fund project
$2,000,000
Project value after completion
$55,000,000
Funding Deadline
September 1, 2022
Payout to investors
12% Annually
Project start date
September 15, 2022
Payout intervals
1% Monthly, No Servicing Fees
Anticipated completion date
January 1, 2026
About this project
Southport Apartment Homes is a 244 unit site in Spartanburg County, SC. This will be a garden style, market rate, multi-family product and will be positioned in the market as high end work force housing. The Greenville/Spartanburg metropolitan area is one of the largest MSA's in the state and has experienced rapid growth in recent years. In the past year alone, Spartanburg County has added 4,000 new jobs. For this apartment project, our exit strategy is to build and sell. We expect construction to take 22 months start to finish and will work towards lining up a buyer to close at C.O. Regardless, we will be prepared to start and finish the lease-up process as necessary. Secure Private Fund will raise $3m to participate in the $10m cash required by the lending bank. We will sell at completion of the project or at the time of 80% occupancy.
NOTICE: PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. NOT AN OFFER TO SELL OR A SOLICITATION TO BUY. The information on this website does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment whatsoever. Without limiting the foregoing, the information on this website does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable law and is not being directed to any particular person or entity in any jurisdiction. No offers or sales of securities are being made via this website.
