Vermillion, SD Student Housing

  • Vermillion-Aerial-Site

Project Category: Original Use Property

  • Summary

    100 unit Student housing development serving the growing student body in Vermillion SD, home of the University of South Dakota.

  • Details
    Project Qualification: Original Use Property
    Real Estate: Residential
    Total Capital Required: $15,185,000
    Equity Required: $5,000,000
    Debt Required: $10,000,000
    Project Control: We own all the key property
    Timeline: 30-90 days
    File: map-showing-OZ-qualified.pdf
    File: Student-Housing-OZ-Haan-Development.pdf
    File: USD-Hits-Record-Enrollment-for-First-Time-Undergraduate-Students-_-USD.pdf
    Related link
    Related link
    Website
     Address: North Norbeck Street Vermillion South Dakota 57069 United States
  • Map

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  • Project Narrative
    Project Narrative:

    100 units of millennium housing in the city of Vermillion, SD, home of the University of South Dakota.
    Experienced General Partner works with large institutional investment groups and syndicators. State Housing authorities as references, HUD, HOME, LIHTC, HTC, experience.

    Cash on Cash return starting at stabilization of 14% plus, by year 7 cash on cash exceeds 18% and sale of product in year 11 shows IRR of 22%.

    Land is currently owned by development team, market studies, environmental, zoning, and utilities all in place and ready for development. .

    Timing can be accommodated if needed by fund sponsor.

    Leverage can be adjusted based on investor’s needs