NoHo 138 (North Hollywood)
NoHo 138 View Gallery
TEM Capital, Pyramid Development Group and WJK Development Co. is pleased to present a request for Equity Investment to participate in the Acquisition and Construction of its upcoming residential community, NOHO 138 (NH138).
NH138 is located in North Hollywood, CA at 11103 Hartsook- The project is within immediate walking distance to the North Hollywood Arts District.
The project will be acquired with all project entitlements, building permits ready to issue (RTI) and utility permit approvals in place, removing the time and risk associated with a planning process.
TEM Capital, Pyramid Development Group and WJK Development intend to build, stabilize and hold the building for long term cash flow and tax depreciation benefits for the investor partners.
The Funding, Closing and Development of the property is scheduled to begin in 2024 with construction expected to be finalized in 2026. We then expect a 8-12 month lease up to stabilize the property. It is estimated that the project will be stabilized in 2027-2028 in which a long term stabilized permanent loan will fund a a large portion of equity will be returned.
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KEY INFORMATION
Target IRR 2.3x
Target Equity Multiple
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Minimum Investment of $100,000
6.5% Preferred Return, 65/35 Split until 6.5% IRR then 50/50 Split
Forecasted Stabilization in 3-4 Years
