Investors Management Group, Inc. (“IMG”) is currently structuring the acquisition of Sommerset Place, a 144-unit apartment community in Raleigh, North Carolina.
The Sommerset Place acquisition is anticipated to close in early December 2017. IMG is presenting its Marketing Memorandum to accredited investors who are interested in investing in a desirable multifamily project. The structure will accommodate 1031 exchanges.
Sommerset Place presents a unique opportunity to purchase a value-add multifamily property in the Best Big City in the Southeast, as Raleigh continues to accumulate high accolades as a magnet for high-tech jobs and Millennials/young families driving its booming rental market. The IMG business plan for Sommerset Place is designed to give its investors a stable and above-average return over the life of the hold period, which is anticipated to be 5-7 years.
Investors Management Group (“IMG”) Inc. is a private real estate investment firm focused exclusively on the multifamily sector. IMG specializes in value-add and opportunistic real estate investments in need of recapitalization, repositioning, or significant renovation in select metropolitan markets. Since its inception, IMG’s multifaceted platform has encompassed ownership, investment sponsorship, asset management, and advisory service to multiple investment partners.
The IMG syndication platform includes high net worth, tenant-in-common, and other accredited investors. IMG’s portfolio comprises of nearly 6,000 units in select markets in Florida, Georgia, North Carolina, Colorado, Washington & Oregon.
Comparable properties in the North Raleigh submarket have proven demand for as-is units with quality amenities at 5%-7% above current rents at Sommerset Place. IMG’s modernization plan will elevate rents that are already growing organically. View Investment Opportunity Flyer
Value-Add Investment Opportunity
Interiors: The property’s unit interiors have undergone significant renovation during the past five years. IMG intends to complete minor upgrades, along with adding washers/dryers to all units. This should result in an immediate rent increase from $75-$100/month per unit.
Community Amenities: Upgrading and enhancing the community amenities at Sommerset Place will ensure it meets the demands of the young professionals in this submarket. Renovation plans include adding a fitness center, creating a spa-like pool/lounge/barbecue area, and community green space improvements.
Strong Market Fundamentals
Raleigh continues to be ranked as one of the best places to live in the nation. Its metro region is projected to be one of the fastest growing in the U.S. over the next decade.
- Best Big City in the Southeast, Money Magazine
- The Next Biggest Boom Towns In The U.S., No. 2: Raleigh, N.C., Forbes
- #11 Best Cities for Renters 2017, Forbes
- Top 10 Best Place to Live in the U.S. 2017, U.S. News & World Report
- North Carolina is No. 1 ‘Growth State’, U-Haul
Sommerset is located in North Raleigh just minutes from luxury retail shopping, dining and entertainment hubs including the award-winning, $1.2B mixed-use development North Hills Midtown Raleigh known as the “ultimate outdoor gathering space.”
As of June 2017, the Raleigh City Council is moving forward with a plan to widen the Six Forks Road corridor to six lanes to accomodate the tremendous growth forecasted in the immediate area near Sommerset Place.
“The Research Triangle–the cities of Chapel Hill, Raleigh, and Durham–is home to some major tech players, IBM, Cisco, and Lenovo are but a few of the hundreds of tech companies that call this area home. Over 46,000 skilled employees live and work in the Research Triangle with no signs of slowing down”. –CTOVision
- Top 5 Cities for Jobs in the U.S. – Glassdoor, Sept. 2017
- #1 of 10 Best Cities For Startups You’ll Want to Be Based In – Hubstaff, Aug. 2017
- #4 Next Top Tech Town, Realtor.com Apr. 2017
- No. 3 Best City for Job Seekers 2017, Indeed
Surrounded by internationally renowned universities, Sommerset Place is located within an education epicenter.
Three Tier 1 research universities – Duke University, North Carolina State University and the University of North Carolina at Chapel Hill – are located within 10-25 miles of Sommerset Place totaling over 90,000 students and 31,000+ employees.
Sommerset Place presents a rare value-add investment opportunity in Raleigh’s booming rental market.
Full Offering Memorandum and PPM are available to accredited investors.
Please contact: Karlin Conklin
Executive Vice President, Private Equity
email@example.com • (971) 888-4010 ext. 104
All offers and sales of any securities will be made only to Accredited Investors through a Confidential Private Placement Memorandum and any exhibits and attachments thereto (collectively, the “PPM”). This communication is not the PPM, and is not intended nor shall it be construed to be an offer to sell any securities. No PPM will be presented to you unless and until IMG has first been able to validate your status as an Accredited Investor. Prior to subscribing, each investor must receive, read and fully understand the PPM which contains important disclosures, financial assumptions and risk factors, including, but not limited to, those risks set forth in the section of the PPM entitled “Risk Factors”. Each investor must base its decision to invest solely on the PPM, may rely only on the information contained in the PPM and should seek advice based on the investor’s particular circumstances from their own independent advisors. Past performance of IMG-sponsored investments may not be indicative of future results.