Multifamily
Investment Opportunity

Iveywood Park I & II

112, Martin Lane Gaffney, SC 29341

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Iveywood Park I & II INVESTMENT DETAILS

97%

AVG PORTFOLIO OCCUPANCY

$750/mo

AVG MARKET RENT

96

UNITS

$10,850,000

PURCHASE PRICE

$4,000,000

EQUITY

1997

YEAR BUILT

Ideal place to live for those who work in the larger markets | 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).

INVESTMENT HIGHLIGHTS

INVESTMENT HIGHLIGHTS Iveywood Park I & II

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).

PROPERTY HIGHLIGHTS

Began conversion to a Market-Rate property in January 2022

Newly leased units are achieving $300+ higher rents

Tenant pays utilities

Investment Highlights

Investment Highlights

Property Features

Property Features

Desirable Location

Desirable Location

TAKE A TOUR

Unit Amenities

Community Amenities

We Are Multifamily Investment Professionals

EXPERIENCED SPONSORSHIP TEAM

Our team has a combined 20+ years of experience and has closed deals worth $800+ million. We have the subject matter expertise, key relationships, and proven track record to execute huge profitable deals.

LEADERSHIP WITH PROVEN TRACK RECORD

We encourage our employees to take risks and seek out new opportunities in order to achieve maximum success. We also seek to foster an atmosphere of respect and empowerment for all our employees.

CONSERVATIVE

We are a team of opportunistic investors who use our deals to create long-term wealth. We leverage our investments and create sustainable cash flow, limiting our risk.

DILIGENT

Closing a deal is challenging, but executing the business plan is even more difficult. Those who have persevered to achieve their goals have done so through perseverance and persistence.

Investor Memorandum

Investment Highlights

Investment Highlights

Property Features

Property Features

Desirable Location

Desirable Location

Why Iveywood Park I & II

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RESERVE YOUR SPOT
IVEYWOOD PARK I & II

How Do We Select Deals

UNDERWRITE OVER 100 TO FIND 1

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.

CAP RATE HIGH ENOUGH FOR STABILIZED ASSET

We generally focus on more high-value deals, but we will sometimes come across stabilized deals that have lower risk.

VALUE-ADD UPSIDE POTENTIAL

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?

VERIFYING ACTUALS, NOT PROFORMAS

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.

STRONG LOCAL RENT GROWTH

We analyze the deals submarket to understand the trends for rental prices.

DO THE NUMBERS WORK

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.

MEET THE
exponential equity TEAM

Michael Shalati

Infrastructure and Sustainability Manager

Riz Zafar

Underwriting Analyst

Genevieve Milan

Infrastructure and Sustainability Manager

Michael M. Sandy

Planning and Development Manager

Jamie Grubb

Director of Asset Management

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