LMDG's legacy fund has entered into a contract to acquire another property. It is located in the prime Alamitos Beach area of Long Beach just a short walk from the shops of downtown and the ocean.
LMDG will improve all of the apartments and increase rents by 50%+ over the next 6 - 9 months as tenants vacate the property and units are remodeled.
Fund II is stillopen for investment. For more information, download ourflyer which outlines the strategy of the fund, track record, fund structure, and projected returns.
Project
Name: Alamitos Beach
Size: 3,308 sq. ft.
Units: 4
Location: Alamitos Beach (Long Beach)
Stabilized Cap Rate: 8%+
Alamitos Beach
Alamitos Beach is a highly desirable neighborhood in the southern portion of Long Beach, CA. Alamitos Beach includes the East Village Arts District to the west, Hellman to the north and Bluff Park to the east and wide sandy beaches along the Pacific Ocean to the south.
Fund II Investor Terms
Fund: LMDG Real Estate Value Fund II, LP
Fund Size: Up to $15 million of equity
Manager: Lujan/Merriman Development Group
Term: Five years
Equity Ownership: 30%
Distributions: Cash flows from operations and sales to be determined quarterly
Fund II Target Investments
Acquisition Size: $1.5 - $5 million
Property Types: Multifamily, In-fill land, Single- family residential
Location: Coastal markets within Orange County and Los Angeles County as well as key sub- markets within Los Angeles and Hollywood
Target Return:
12% - 17%+ net IRR
1.5x - 2.0x net Multiple
Lujan/Merriman Development Group
5050 E. 2nd Street #14806 Long Beach CA 90853 United States
