|Hello Left Fielders!
We have an upcoming Deal Webinar with Preferred Partner, Aspen Funds!
Join us Tuesday, December 8th at 4 PM ET for a deal webinar. Aspen will present Ironhorse Industrial – a Class-A development projected located in Wichita, Kansas.
Please note – this is a development deal and thus is higher risk than they typical deal many of us evaluate and invest in. This deal has not been vetted by Left Field Investors or any of our Founders or Members. Left Field Investors is not recommending an investment in this or any other deal. Left Field Investors is presenting this opportunity only as a way for our Community to invest and qualify for a higher return amount. The Founders of Left Field Investors may or may not invest in this deal. Each person must evaluate this deal individually and must make their own investment decision.
To invest in this deal, we will use a Founderless Tribe from Tribevest. To get the bonus returns, LFI members will need to commit a minimum of $500,000 in total through the Tribevest tribe. The minimum investment for accredited LFI members will be $25,000.
Below is the investment summary and key reasons to invest:
- Minimum Investment – $100K
- Waterfall – 7% preferred return (accrued). 70/30 LP/GP profit split, up to 20% annual return. 50/50 profit split thereafter.
- Projected Hold Period – 2-3 years
- Target Net Annual Return – 20-25%
- Target Net IRR – 20-25%
- Target Equity Multiple – 1.40x–1.60x
KEY REASONS TO INVEST:
- High Demand & Low Vacancy – Demand for Class A industrial buildings is strong across the U.S. as companies expand manufacturing & distribution. The Wichita submarket has a high concentration of manufacturing need with very low vacancy, sub 4%.
- Development Arbitrage – Limited existing inventory, and subpar amenities (e.g. lower clear height, limited bays, etc.) coupled with strong demand create favorable economics for development. Further, industrial properties are much simpler to construct than other types of real estate.
- Alignment & Co-investment – Aspen Funds management team co-investing personal funds in this opportunity. Additionally, debt acquired for this property requires owners of Aspen to guarantee the debt.
- Strong Debt Terms – We have partnered with a regional lender on this project to ensure the most favorable financing options. We will have a fixed rate for 3 years, with an option for a 2-year mini-perm if we need to hold the property longer.
- Guaranteed Maximum Contract – Construction risks have largely been mitigated through acquiring a guaranteed maximum contract from our general contractor, Crossland. This means budget overages will be covered by our contractor.
- Tax Friendly – As an investor, you become a direct owner of this property and share in the tax benefits afforded by the tax code.