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Exponential Equity is pleased to offer qualified investors an opportunity to invest in the acquisition of a Class-B multifamily property in Gaffney, SC. The LURA expired in January 2022, and it has started releasing tenants to market rate rents, which are $300+ per unit for renewals and $450+ for renovated units.
The property is located along Interstate 85 in Gaffney, South Carolina, commutable to both Charlotte, NC and Greenville, SC. Gaffney has become an ideal place to live for those who work in the larger markets. Gaffney offers small town Southern charm with convenient access to big city amenities.
Interstate-85 is currently undergoing expansion and a new clover leaf entrance/exit project in Gaffney less than 2 miles from Iveywood Park. Within 30 minutes of the complex, there is the new Catawba Two Kings Casino, UPS Freight Distribution Center, Spartanburg Medical Center and DHL Supply Chain Warehouse (Q3 2022).
We see one great deal every 100 deals that come across our desk. We have strict underwriting guidelines, so we can act swiftly when the right opportunity comes along.
We generally focus on more high-value deals, but we will sometimes come across stabilized deals that have lower risk.
Can we increase the NOI, which will increase the value of the property? For example, current rents are below market rents due to unit quality. Can we rehab the units and increase rents?
Brokers often provide buyers with financial projections (proformas) as if they were today’s numbers. We verify the information and base our analysis and offer on ACTUAL figures.
We analyze the deals submarket to understand the trends for rental prices.
After considering all of the aforementioned factors, we come up with a Maximum Allowable Offer (MAO), which is the maximum amount we can pay to acquire the deal.
Infrastructure and Sustainability Manager
Underwriting Analyst
Underwriting Analyst
Infrastructure and Sustainability Manager
Infrastructure and Sustainability Manager
Planning and Development Manager
Planning and Development Manager
CEO
CEO
COO
COO
Director of Asset Management
Director of Asset Management