Investors Management Group, Inc. (“IMG”) is acquiring Whitehall Estates as a Tenancy In Common (TIC) ownership structure through a 506(c) securities offering. IMG, as Sponsor, is raising $17.9M from accredited investors who will become owners as either Limited Partners or Tenants In Common. TIC ownership positions will accommodate 1031 exchanges.
The acquisition is targeted to close in early March, 2020. The investment is anticipated to be a 5-year hold.
Location: 2400 Whitehall Estates Dr, Charlotte NC 28273
Units: 252, Garden Style
Year Built: 1996
Closing: March 2020
Anticipated Hold Period: 5 years
Minimum LP (Member) Investment: $25,000
Minimum TIC Investment: Contact for availability
Propelled by its attractive amenities and central location at a high-traffic corner within one of Charlotte’s largest job districts, Whitehall Estates continued its trend of increasingly strong financial performance in 2019. Total income is up 12% over the trailing two years.
IMG will follow a proven value-add business plan, expanding upon the rehab scope that was put in progress by the current owner.
Investment participation is limited and available on a first-come basis. Contact:
Principal, Executive VP
(971) 888-4010 ext. 104
Investor Relations Manager
(971) 888-4010 ext. 108