cep_multifamily_transparent-1

CEP Multifamily Fund II

Join CEP in capturing the opportunity to buy multifamily real estate when the market dynamics are in the investors’ favor.
Dive into CEP's Core+ Investment Strategy
View Current Multifamily Portfolio
3.25X TARGETED EQUITY MULTIPLE
Fund II Lifecycle and Plan
One-Stop Shop for Investor's to Reference 
Data Highlights including Leverage Metrics, LP Terms and Fees
Jessica Disman Signature Black-1

Fund Parameters

031424 CEP WebIcons_Demand-Orange

$50Mil +

Equity Fund Offering

031424 CEP WebIcons_Flexability-Orange

7 Years

Anticipated Life of Fund

031424 CEP WebIcons_Stabality-Orange

$250Mil

Total Capitalization‎‎‎‎‎‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎

031424 CEP WebIcons_AcquisitionCriteria2-Orange

900 +

‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎Units‏‏‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‏‏‎ ‎‎‏‏‎ ‎‏‏‎ ‎

Villas-At-Portage-Creek_banner-1

Villas at Portage Creek

Invest in a fully stabilized (97% occupancy) Core-Plus Multifamily housing community in Arlington, WA

The Villas at Portage Creek is a top performer in a high-growth submarket and features 109 garden-style units with desirable two- and three-bedroom floor plans (937–1,678 SF) that appeal to the area’s workforce and their families. The property is located less than 3 miles from the Cascade Industrial Center (CIC), a rapidly growing employment hub and home to Tesla, Blue Origin, and a new one million SF Amazon fulfillment center. The CIC is expected to support up to 20,000 family-wage jobs by 2040.

Villas-At-Portage-Creek-1
Villas-At-Portage-Creek-2
Villas-At-Portage-Creek-3
Villas-At-Portage-Creek-4
Villas-At-Portage-Creek-5
Villas-At-Portage-Creek-7
Villas-At-Portage-Creek-8
Villas-At-Portage-Creek-9
Villas-At-Portage-Creek-1
Villas-At-Portage-Creek-2
Villas-At-Portage-Creek-3
Villas-At-Portage-Creek-4
Villas-At-Portage-Creek-5
Villas-At-Portage-Creek-6
Villas-At-Portage-Creek-7
Villas-At-Portage-Creek-8
Villas-At-Portage-Creek-9
Villas-At-Portage-Creek-10

Investment Opportunity

noun-mortgage-6971061

Purchase Price

$34,000,000

noun-equity-financing-6440290-1

Equity Investment

$15,873,000

noun-bill-6970941

Favorable Financing Terms

5.88% 10 Year fixed

65% LTV
5 yr interest only

Investment Opportunity

Asset Purchase

  • Price: $33,750,000
  • Units: 109
  • Cap Rate: 6.08%
  • Interest Rate: 5.1%
  • Basis: 85% of Replacement Cost

Core-Plus Strategy

  • * 7+ Year Hold
  • * Long-term debt w/conservative leverage
  • * Deliver robust cash flow from operations to investors (paid quarterly)

Suburban
Workforce Housing

  • * High demand product
  • * Undersupplied in the market
  • * Affordable for households making 80-120% of area medium income

Suburban
Workforce Housing

  • * High demand product
  • * Undersupplied in the market
  • * Affordable for households making 70-120% of area medium income

Core-Plus Strategy

  • * 7+ Year Hold
  • * Low Risk/High Yield Investment
  • * Long-term debt w/conservative leverage
  • * Generate balanced returns over the hold period
  • * Deliver robust cash flow from operation to investors (paid quarterly)
  • * Drive strong appreciation over time to capture at sale

Capital
Expenditures Plan

  • * Properly capitalized to reposition the asset to compete with top performers in the submarket.
  • * Complete unit interior renovation on all remaining two- and three-bedroom units as they turn to capture proven rent premium

location-banner-1

Arlington, WA

Arlington is a small, vibrant city in Snohomish County, Washington that sits just east of I-5 between Everett (the largest city in the county) 13 miles to the south and Burlington/Mt. Vernon roughly twenty miles to the north. Its residents enjoy life at the doorstep of both Puget Sound and the Cascade Mountains, providing abundant outdoor activities and views that, alongside the strong employment base, bolster quality of life in the region. This attractiveness is demonstrated at both the city and county level, with each seeing their populations grow 1.5% and 1.3%, respectively, since 2010 – well above the U.S. average of 0.6%.

Download CEP Fund II Investor Deck

Registration Required to Access

Dive into CEP's Core+ Investment Strategy
View Current Multifamily Portfolio
Fund II Lifecycle and Plan

Watch the CEP Multifamily Fund II Webinar

 

Arlington, WA Highlights

  • Snohomish County = 848,163
  • Growth = 1.3% per year since 2010 (US Avg. 0.6%)
  • Arlington = 21,594
  • Growth = 1.5% per year since 2010

Economy (Snohomish County)

Top Sectors

  • Manufacturing (Aircraft)
  • Healthcare
  • Education
  • Gaming
  • Government

Largest Employers

  • Boeing
  • Providence
  • Edmonds School District
  • The Tulalip Tribes
  • Washington State Government
Arlington, WA
Fact Sheet

Villas at Portage Creek

Building
Address 7900-7980 200th St NE
Year Built 1994
# of Units 109
Average Unit SF 1071
Residential Net Rentable SF 111,138
Parking 109 carports, 28 garages, 74 surface spaces
Site Area Approximately 9.84 acres
Construction Specifications
Structure 14 buildings + 1 Office & Lounge
Foundation Slab on Grade
Roof Pitched, Composition Shingle
Siding Mix of LP and Fiber Cement
Heat & A/C Electric
Plumbing Mix of Copper and PEX
Unit Type No. Units Unit SF Pro Forma Rent Pro Forma Rent/SF
2 Bedroom Classic 41 968 $2,056 $2.12
2 Bedroom Renovated 51 974 $2,268 $2.33
3 Bedroom Classic 9 1,253 $2,146 $1.71
3 Bedroom Renovated 8 1,312 $2,462 $1.88
Total/Average 109 1,020 $2,191 $2.15

Villas at Portage Creek is available exclusively through CEP Multifamily Fund II

To receive detailed information, please submit an information request below

Watch the CEP Multifamily Fund II Webinar

 

Josh Jansen

Josh Jansen

CEO | President | Managing Partner

Watch the CEP Multifamily Fund II Webinar

 

Jessica-Disman-Headshot-BW

Jessica Disman

Director – Capital Markets & Investor Relations

Watch the CEP Multifamily Fund II Webinar

 

Mike Harmon

Mike Harmon

CFO & Managing Partner

Watch the CEP Multifamily Fund II Webinar

 

10.00% Preferred Return

With Priority Return of Capital to Investors
75% To Investors | 25% To Sponsor

$100K Minimum Investment

Increments of $50K Thereafter
Verified Accredited Investors Only

Targeted Investor Returns

Average Annual Cash-on-Cash Return

6.5%

Net

Internal Rate of Return

12%

Net

Equity Multiple

2.5X

Net
Ready to learn more?

Contact Your New Real Estate Investment Partner

Photo-1_FINAL (1)