Equity Investment for 148-Unit Multifamily Apartment Development

This listing presents an equity investment opportunity for a 148-unit multifamily apartment development project located near Pacific Lutheran University. The project has successfully navigated the rezoning process from single-family lots to multifamily, and entitlements are nearing completion, with permits submitted to Pierce County for site engineering and building permits, expected within six months. The current capital raise of $4,000,000 is sought to finalize entitlements, restructure the partnership by buying out minority partners (approx. $600k), and pay off a high-interest loan (approx. $2M). Over $1,000,000 has already been invested in entitlement expenses. Based on preliminary valuations, the project is expected to be worth over $7M to $8.5M upon approved entitlements, positioning investors favorably. The offering follows a 'Build and Sell' model, with an initial phase focused on securing full entitlements. Investors will receive a preferred return of 12% and a waterfall split on profits, targeting a total return of 20-30% over the project's life. Capital partners will also have voting rights in the developing entity.