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233 Mira Mar (Belmont Shore) - Acquired

LMDG Real Estate Value Fund II ('Fund II') has acquired its most recent property, a 7 unit value-add apartment building.  This is Fund II's second purchase in the highly-desirable Belmont Shore area of Long Beach, it is just a short walk from the shops and restaurants of 2nd st., the Belmont Pier, and the Pacific Ocean.

LMDG will improve all of the apartments and increase rents by 50%+ over the next 9 - 12 months as tenants vacate the property and units are remodeled.  

Fund II currently has $5 million in properties in escrow to be acquired during the second quarter of 2019.  Fund II is closing in May 2019 to new investors, contact us to learn more.

The principals of Lujan/Merriman Development Group have completed over $100 million of transactions since inception.  For more information, download our flyer which outlines the strategy of the fund, track record, fund structure, and projected returns.

Download Flyer

233 Mira Mar 350x281
Name: Belmont Shore II
Size: 6,000 sq. ft. 
Units: 7
Location: Belmont Shore (Long Beach)
Stabilized Cap Rate: 8%+


Project Summary
Purchase Price: $2,150,000
Renovation Budget: $336,500
Total Project Cost: $2,486,500
Stabilization: 9-12 Months
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LMDG Target Market Map 350x280


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 - 15%+ net IRR
  • 1.5x - 2.0x net Multiple
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Lujan/Merriman Development Group

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

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