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title: LMDG Fund II Acquires Another Property (11 units Alamitos Beach) ��
description: LMDG Real Estate Value Fund II acquires another property, an 11 unit apartment building in Long Beach's Alamitos Beach near Retro Row, Bixby Park and Ocean Blvd.
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 LMDG Real Estate Value Fund II acquires another property, an 11 unit apartment building in Long Beach's Alamitos Beach.

| Not rendering correctly? View this email as a web page here. 2104 E. Florida Acquired!!! LMDG Real Estate Value Fund II, LP has acquired another asset, an 11 unit value-add apartment building located in Alamitos Beach (Long Beach, CA).  The property was acquired at approximately 60% of replacement cost and is operating at rents 40% below market (representing a true Value-Add asset with tremendous upside). The property is strategically located near Long Beach's Retro Row, a unique eclectic enclave of approximately 100 independently owned and operated businesses that offer goods, restaurants, and entertainment. The property has been poorly managed but has a great unit mix and provides incredible rent and cash flow upside.   Fund II is still open for investment.  For more information, download our flyer which outlines the strategy of the fund, track record, fund structure, and projected returns.     Property Name: Retro Row (Florida) Lot Size: 6,487 Units: 11 Location: Long Beach, CA (Alamitos Beach) Stabilized Cap Rate: 8%+     Project Summary Purchase Price: $2,535,000 Renovation Budget: $375,000 Total Project Cost: $2,910,000 Stabilization: 9-12 Months     Fund II Investor Terms The Fund: LMDG Real Estate Value Fund II, LP Fund Size: Up to $15 million of equity Manager: Lujan/Merriman Development Group The Term: Five years Equity Ownership: 30% Distributions: Cash Flows from operations and sales to be distributed pro rata 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 Leverage: Up to 65% leverage on a portfolio basis Target Return:  15% - 18%+ net IRR 1.5x - 2.0x net Multiple Lujan/Merriman Development Group 5050 E. 2nd Street #14806 Long Beach CA 90853 United States Preferences \| Unsubscribe |
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