Investors Management Group, Inc. (“IMG”), as Sponsor, is now accepting commitments from Tenancy in Common and LP (Member) investors in Livingston at Laurel Hills, offered as a 506(c) security. IMG is raising $13.23M from accredited investors who will become owners as either Limited Partners or Tenants-In-Common. TIC ownership positions will accommodate 1031 exchanges.
- Location: 3409 Mill Tree Rd, Raleigh NC 27612 (directly adjacent to Laurel Hills Park)
- Year Built: 1988
- Closing: December 2019
- Anticipated Hold Period: 5 years
- Minimum LP Investor Amount: $25,000
- Minimum TIC Investor Amount: $500,000
Currently known as Lexington Farms, IMG will rebrand the property as Livingston at Laurel Hills, targeted to a more sophisticated renter demographic. Planned capital projects include unit interior and building upgrades and community amenity enhancements. An interior upgrade package of $5,750 per unit budgeted for the property is projected to escalate rent revenues over the investment period. A comparable IMG property located six miles from Livingston is currently achieving $100/month rent premiums based on an average $3,750 interior upgrade package.
Livingston is located 13 miles from Research Triangle Park—home to more than 300 bioscience and tech companies employing 89,000 workers. RTP is branded as a technology mecca, currently ranked third behind Silicon Valley and San Francisco in tech industry share.
Livingston also offers back-door access to the Crabtree Valley Mall ($290M redevelopment currently proposed), Umstead State Park and the Raleigh–Durham International Airport.
“We’re especially excited about this new off-market multifamily acquisition because of its highly sought-after Northwest Raleigh location and our previous successful investments in this same submarket,” said President & CEO, Neil Schimmel. “Raleigh is one of America’s top real estate markets. Investors are watching it closely. Northwest is the metro’s most desirable investment location based on high rent growth rates and a balanced multifamily supply.”
IMG has transacted $252M in North Carolina multifamily assets in the last four years, and over 5,000 units nationally in this cycle.
Investment participation is limited and available on a first-come basis. To request the full IMG offering memorandum for Livingston at Laurel Hills, contact Dave Mikkelsen at email@example.com or (971) 888-4010 ext. 108.
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.