ARCTRUST Private Capital, the capital division of the ARCTRUST Group of Companies, announced the launch of Project Rendon LLC, a Regulation D private placement offering.
The company says Project Rendon is offering $15 million of Class A Preferred Units with a minimum investment of $50,000. The offering will “help finance the development of a 288-unit, Class A luxury multifamily residential community on a 23-acre land parcel in the Dallas-suburb of Burleson, Texas.”
The property is being developed by Rendon Residential Partners LLC, a venture between ARCTRUST Group of Companies and Landmark Companies.
“We believe that the Greater Dallas metropolitan region offers some of the most compelling multifamily investment opportunities in the country,” said Chris Wadelin, chief executive officer, ARCTRUST Private Capital. “Population migration is attracted to this area based upon proximity to the Dallas Metroplex high job growth and relatively low cost-of-living. High home prices and limited for-sale single-family homes will encourage them to remain in well-appointed and well-located multifamily communities for longer periods. Project Rendon not only helps to meet this anticipated demand from residents, but we believe it offers impressive income opportunities for our investors.”
The currently vacant 23-acre land parcel is located at 1151 East Rendon Crowley Road in Burleson, Texas, a suburb in the Dallas-Fort Worth-Arlington metropolitan statistical area. The project consists of the construction of 12 three-story apartment buildings consisting of one and two-bedroom units, along with several amenities including a clubhouse, fitness center, pool, outdoor grill and picnic areas, and a dog park.
ARCTRUST Private Capital focuses on delivering a diverse platform of investment solutions including real estate investment trusts, Regulation D offerings, Delaware Statutory Trusts and preferred equity and debt products, while also providing investor. They’re affiliated with ARCTRUST, a 38-year-old real estate company that has been responsible for the development, acquisition and joint-venture funding of more than 500 properties with an aggregate value in excess of $5 billion.