We are excited to announce that we are under contract to acquire Drawbridge Creek Apartments, which we will rebrand to “Rise Bridgeview” in Greensboro, North Carolina.

We're excited to offer you early access to explore the investment details ahead of our upcoming Rise Bridgeview launch. We are sharing this information one week in advance to provide you with ample time to thoroughly review the presentation deck and financials related to this opportunity. 

Rise Bridgeview is 240 units built in 1990. The property is a B+ class asset located in a A+ location of the Greensboro MSA. It offers immense upside with the opportunity to renovate 100% of the classic units (240 units) and add washers/dryers to 63% of the units (151 units).

 ★ A+ Location

★ Significant Value-Add Upside

★ Majority 2 & 3-Bedrooms 

★ Last Deal of the Year to Receive 2024 Depreciation Tax Benefits

To provide ample time for due diligence, we’re sharing detailed information one week before the Rise Bridgeview launch, allowing you to fully review the presentation deck and financials.

Please note: there is no reservation or commitment link in this email. The official investment link will be sent in a separate email on Thursday, November 14th, at 8:30 a.m. CST.

Investment slots are available on a first-come, first-served basis, and we expect high demand, as previous Rise48 deals filled within 24 hours. 

Key Benefits of This Opportunity

• Significant Value-Add Potential: The property has 100% classic interiors, allowing Rise48 to upgrade all units to their platinum standard, including vinyl plank flooring, quartz countertops, stainless steel appliances, new cabinets, and other premium features. Rise48 will add washers and dryers to 63% of units alongside full unit renovations, yielding an additional $50 per unit in rental income.

• Operational Upside: The current owner, a private equity firm, has not been maximizing rents, presenting a strong operational upside. The firm must sell to meet its 5-year investment horizon, allowing Rise48 to take advantage of this distressed opportunity. 

• Strategic Location and Asset Quality: Built in 1990, the property is currently operating as Drawbridge Creek Apartments and will be rebranded as “Rise Bridgeview” with new exterior paint, a new monument sign, and marketing banners. Located in the A+ submarket of Greensboro, the property benefits from its high-income surrounding area, with an average household income of $102,000 within two miles.

• Off-Market Acquisition: Rise48 sourced this off-market at a 13% discount, securing an acquisition price of $167K/unit. This is a low basis for a property with 73% 2- and 3-bedroom units, and is the highest cap rate Rise48 has achieved in a deal. (Note: The higher the cap rate, the better the value for the buyer.)

• Comprehensive Due Diligence: Rise48’s team has thoroughly inspected each unit, budgeting adequately for any necessary repairs to roofing, plumbing, and capital items.

• Stress-tested Opportunity: Even in a worst-case scenario with the maximum interest rate, Rise48 conservatively projects a 2.05X equity multiple. They have secured a fixed interest rate cap of 4.75% on the acquisition loan.

Investment Structure and Target Returns

Through Starting Point Capital’s higher capital commitment and pre-negotiated return metrics, your targeted return profile will be greater than what is available to Rise48’s retail investors. Additionally, this may be one of your last opportunities this year to benefit from 2024 tax depreciation.

Greensboro Market Growth

The North Carolina market is flourishing, with Greensboro ranking as the third-largest city in the state and boasting robust population growth (up 1.08% since 2023) and job growth (1.8% in 2023). A strong pipeline of 20,000+ new jobs, including major employers like Cone Health (13,000+ employees) and Piedmont Triad International Airport (8,600+ employees), supports the city’s ongoing expansion. Residential occupancy is expected to increase to around 91.3% through Q4 2029, driven by favorable supply-demand dynamics.

What We Value in Rise48 Equity

• Proven Track Record: Rise48 Equity has consistently exceeded investor projections across all acquisitions, with a conservative hold period of 2-5 years and an average actual hold period of just 18 months. Notably, they have never required a capital call, lost investor capital, or missed any debt payments. While past performance is not a guarantee of future results, Rise48’s record is outstanding.

• Vertically Integrated Operations: With over 250 employees, including in-house property management and construction teams, Rise48 controls its supply chain and oversees all aspects of property upgrades and management.

• Transparency and Financial Reporting: Through the Oak and Vine Investor Portal, you’ll have access to detailed financial packages, including bank statements, mortgage statements, income statements, balance sheets, and accounts payable details.

• Proven Local Presence: Rise48 has an established footprint in North Carolina with local offices in Greensboro and Charlotte, along with a consistent supply chain that supports efficient property management.

Investment Eligibility

This is a $50,000 minimum investment offering, and as a Reg D 506(b) offering it is open to accredited and sophisticated non-accredited investors. We also accept self-directed IRA funds for this opportunity. Please reach out if you’re interested in exploring this option.

This exclusive early access is a chance to review an investment that offers substantial upside in a high-growth market with a seasoned sponsor. We encourage you to review the linked presentation and reach out with any questions.

Targeted Investor Returns

We’ll be using a simple fund-level deal structure: 

• 100% of net cash flow to the investor (LP) up to a 7% preferred return, and thereafter an

• 85%/15% uncapped split between LP and GP 

Targeted Return Projections:

• Average Annual Return (AAR): 21.0% - 21.8%

• Average Annual Cash Flow: 5.3%

• Equity Multiple: 2.05X - 2.08X

• Internal Rate of Return (IRR): 16.3% - 16.7%

So, on a $100,000 investment, we’re projecting a $105,000 profit.

Deal Offering:

• Rise Bridgeview Total Offering Size: $19,998,927

• SPC Bridgeview LLC Fund Offering Size: $5,000,000

• Anticipated Hold Period: 2-5 Years

Key Dates:

• Launch Date: November 14th, 2024

• Funding Deadline: December 6th, 2024

• Target Closing Date: December 31st, 2024

• Financial Reports: Starting February 2025

• Monthly Distributions: Starting March 2025

This investment opportunity will fill up quickly. Our last Rise48 opportunity was fully subscribed in less than 24 hours. All commitments will be taken on a first-come, first-serve basis.

CLICK HERE to access the Rise Bridgeview investor deck.

CLICK HERE to access a 3-minute Video Summary of Rise Bridgeview.

If you have any questions, please reach out to me directly at 612-451-6200 or at nick@oakandvinecapital.com

You can also schedule a meeting with me HERE

Thank you,

Nick Stromwall