LOFTON PLACE
APARTMENTS
Tampa, Florida |
The Property
Lofton Place is a 280-unit, Class "B+" multifamily rental community built in 1988. The property is located ten miles northwest of downtown Tampa in the Carrollwood submarket. Lofton Place enjoys a central location with easy access to the airport, shopping and major employment centers. The purchase price is approximately 50% of replacement cost. |
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Paladin Advantage
The investment in this joint venture by Paladin Realty Income Properties, Inc. ("Paladin REIT")represents only 60% of the total equity invested; however, the investment is structured as "preferred equity" which will receive a priority return of 10.0% annually from available cash flow. In exchange, our joint venture partner may earn incentive compensation should annual cash flows or proceeds from a sale exceed certain threshold levels. |
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PALADIN REIT
Paladin REIT provides individual investors access to institutional real estate opportunities. We have experience in multiple property types and geographic markets and expertise in a wide range of value-enhancement strategies and structures. Our investment objectives are to protect capital, pay a stable distribution, participate in potential real estate asset appreciation upon the ultimate sale of our properties and provide liquidity to our investors beginning in February 2015. |
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| Date Acquired |
October 2009 |
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| Total Capitalization |
$17,000,000 |
| Debt |
12,000,000 |
| Equity |
5,000,000 |
| Paladin REIT Investment |
3,000,000 |
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