Sunbelt Fund II Updates > 2021 Annual Bonus Coupon Announcement
SB1 & SB2 Annual Bonus Coupon Details
We are proud to announce that we will be making a bonus coupon payment for both Sunbelt Fund I (“SB1”) and Sunbelt Multifamily Fund II (“SB2”) as follows:
Thanks to the hard work and dedication of the Ballast Rock team and Sunbelt Properties (our in-house property management group), both funds are currently outperforming their relevant pro forma expectations for 2021 (see SB1 Final Pro Forma and SB2 Current Pro Forma and see the SB1 Updates and SB2 Updates pages for monthly asset management reporting).
This is our first year for SB2 (which is still in the acquisition stage of the fund), and now our third year of high cash-on-cash distributions to investors in SB1. We are confident in our ability to continue to add value to these portfolios.
We expect the SB2 fundraise to finish shortly, so please make your reservation in the Ballast Rock investor portal if you wish to participate in this fund.
- SB1: 1% bonus coupon, which when combined with our 7% SB1 target coupon (paid in quarterly installments) means SB1 will have paid out a total of 8% net cash-on-cash to investors for 2021. This exceeds our 7% preferred return for SB1.
- SB2: 2.5% bonus coupon, which when combined with our 5% SB2 target coupon (paid in quarterly installments) means SB2 will have paid out a total of 7.5% net cash-on-cash to investors for 2021. This exceeds our 7% preferred return for SB2.
Thanks to the hard work and dedication of the Ballast Rock team and Sunbelt Properties (our in-house property management group), both funds are currently outperforming their relevant pro forma expectations for 2021 (see SB1 Final Pro Forma and SB2 Current Pro Forma and see the SB1 Updates and SB2 Updates pages for monthly asset management reporting).
This is our first year for SB2 (which is still in the acquisition stage of the fund), and now our third year of high cash-on-cash distributions to investors in SB1. We are confident in our ability to continue to add value to these portfolios.
We expect the SB2 fundraise to finish shortly, so please make your reservation in the Ballast Rock investor portal if you wish to participate in this fund.
Have more questions?
If you would like to learn more about the team, the Sunbelt strategy, and investing in a Ballast Rock fund, please contact us via email by clicking the button below or IR@ballastrock.com.
