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Deal Webinar – Broadview Apartments Investment Webinar
December 6, 2022 @ 12:00 pm - 1:00 pm EST
MAG Capital Partners is pleased to present a private investment offering, Broadview Apartments, a 254-unit Multifamily acquisition in San Bernardino, CA in the growing Inland Empire. Recapitalizing the existing equity partner at a ~$10M discount to market, MAGCP is partnering on a second JV with Crystal Asset Management who purchased the property in 2018. 90% of the units have been renovated and 70% have been brought to market. MAGCP will oversee the final execution of the demonstrated business plan and implement common area improvements while co-investing $4.5M of the $25.5M total equity. Sponsor co-invest equity will not receive a return until investors are fully paid their accrued preferred returns. Depreciation will apply to tax year 2022 and is expected to generate ~70% tax losses.