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10 Units - Santa Monica Acquired!

LMDG Fund III in partnership with LMDG Real Estate Value Fund II has acquired its first and tenth property respectively. 

The property is located in Santa Monica in the north of Wilshire neighborhood just a few blocks from the Pacific Ocean.

This property will be delivered with three vacant units which can be renovated and stabilized at market rents immediately.

LMDG will renovate the remaining units as tenants relocate.  We anticipate rents to increase by 50%+ as the property is stabilized.

Visit our website and enjoy short videos that highlight current projects and the areas we invest in.

For more information on Fund III, download our flyer which outlines the strategy and structure of the fund as well as projected returns, and our track record. 

Download Flyer
Lincoln-Idaho Santa Monica 350x281
 
 
 
Project
 
Name: Santa Monica I
Size: 8,076 sq. ft. 
Units: 10
Location: Santa Monica
Stabilized Cap Rate: 8%+
 
 

 

 
Santa Monica
Santa Monica is a beach city in western Los Angeles County.  The city is bordered by the Pacific Palisades, Brentwood, West LA, and Venice.  Santa Monica has experienced a boom since the late 1980s through its revitalization of its downtown core, significant job growth, and tourism.
 
 
 
SantaMonicaCity-350x281
SantaMonicaBeach-350x281

 

Fund III Investor Terms

  Fund: LMDG Fund III, LP
  Fund Size: Up to $100 million of equity
  Manager: Lujan/Merriman Development Group
  Term: Ten years
  Equity Ownership: 30%
  Distributions: Cash flows from operations and       sales to be determined quarterly

Fund III Target Investments

  Acquisition Size: $1.5 - $7.5 million
  Property Types: Multifamily, Urban infill
  opportunities, Single family residential
  Location: Coastal markets within Orange County     and Los Angeles County.  Key sub-markets include
  coastal Long Beach, Santa Monica, West
  Hollywood, and Hollywood.
  Target Return:
  • 8% - 12%+ net IRR
  • 2.0x - 3.0x net Multiple

 
LMDG Target Market Map 350x280

Lujan/Merriman Development Group

5050 E. 2nd Street #14806 Long Beach CA 90853 United States

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