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Performance and Cash Reserve Update

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Sunbelt Fund I Updates > Performance and Cash Reserve Update

Consistent Occupancy Growth and Steady Performance Year to Date

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Please click here for our Sunbelt Fund I June 2020 Asset Management Report. June was another strong month, with the fund cap-rate, physical occupancy, and cash-on-cash all steadily continuing to increase.

We have maintained a cash reserve of more than 15% of deployed equity (see below) since pre-covid to weather any eventuality, and despite this the portfolio cash-on-cash has remained high. Given strong operational performance through the crisis thus far, we expect to deploy a large proportion of this cash reserve for our next purchase in August to further boost cash-on-cash returns.

Sizable 15%+ Fund Level Cash Reserves Taken Pre-COVID-19

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Workforce multifamily real estate asset prices have remained consistent in the Southeast despite the pandemic. In our opinion, this results from rallying interest rates and the outperformance of the sub-sector relative to most other real estate asset classes, driving capital to our sector.
The Sunbelt origination team are all working hard to leverage our broad local network and reputation as closers to put strong deals under contract to finish off the fund and thus complete all remaining capital calls.  We capital call on a first-come, first-serve basis as funds are needed for acquisitions based on the order in which reservations are received in our investor portal.

We continue to be extremely selective. Since the onslaught of Covid-19, we are reviewing 5-10 deals in our sector/geography a week, underwriting the most interesting 2-5, and visiting 1 property every two weeks on average with deal flow down relative to pre-pandemic.

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The information contained on the Ballastrock.com web site has been prepared by Ballast Rock Holdings LLC (“Ballast Rock”) without reference to any particular user’s investment requirements or financial situation. Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a private offering of securities.  An investment in private securities would be speculative and would involve a high degree of risk. Investors must be prepared to bear the economic risk of such an investment for an indefinite period of time and be able to withstand a total loss of their investment. Please consider carefully the investment objectives, risks, transaction costs, and other expenses related to an investment prior to deciding to invest.  All private placements of securities and other broker dealer activities are currently offered through a partnership with Independent Brokerage Solutions LLC MEMBER: FINRA / SIPC (“IndieBrokers”), which is located at 485 Madison Avenue 15th Floor New York, NY 10022. (212) 751-4424. Ballast Rock Holdings LLC and its affiliates are independent and unaffiliated with IndieBrokers.  Any securities transactions or related activities offered by Ballast Rock associated persons are conducted in their capacities as registered representatives of IndieBrokers.  Please see our Form CRS. 
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To check the background of IndieBrokers and its representatives, visit FINRA’s BrokerCheck. 
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  • Home
  • What We Do
    • Real Estate >
      • Multifamily
    • Ventures >
      • Acronym Venture Capital
      • Louisiana Green Fuels
    • Capital Advisory
  • About Us
    • Our Story
    • Leadership
  • Fund Updates
    • Acronym VC Fund
    • Louisiana Green Fuels
    • Sunbelt Fund II
    • Sunbelt Fund I
  • Education
    • Portal "How To"
    • Corporate Deck
    • Articles
    • Press >
      • Lument Workforce Housing Webcast
      • CoStar Gleneagle Article
      • CoStar Coleman Article
      • Multifamily Executive
  • Login