GREENVILLE, SC – Lima One Capital, the nation’s premier lender for real estate investors, recently financed a 108-unit, 216 bed, student living portfolio in Tallahassee, Fla. This large-scale investment was underwritten and funded within 16 days and further establishes the company’s overall growth in the multifamily investment space.

This project is a prime example of Lima One Capital’s competitive advantage in this evolving sector through their efficient process, streamlined underwriting, and elite customer service for small balance and middle market multifamily deals. The investors came to Lima One Capital needing to close quickly after their current lender was unable to meet their buy deadline.

“Student living deals take on an entirely new risk profile,” said Brian Cauthen, Lima One Capital’s director of multifamily and commercial financing. “Most traditional lenders aren’t able to streamline the underwrite due to the nuances of value alpha as it relates to deal-specific risks. When we looked at the properties in Tallahassee, we gathered specific knowledge of the advantages and worked together with the sponsors who had significant expertise.”

Since launching the multifamily program in the fall of 2016, Lima One Capital has financed small and middle-market multifamily deals across the country. In addition to multifamily financing in 45 states, Lima One Capital also offers FixNFlip and Rentalproperty financing nationwide.

“The deal was to gain more coverage in proximity to ‘college town,’ a newer development of student living and dining which has seen unprecedented growth over the last five years,” said Diane Sugrue, Lima One’s senior analyst. “It made a ‘location arbitrage’ that would be simple to overlook. Fortunately, between the sponsors experience along with Lima One’s familiarity to the market, we were able to streamline the approval and ultimately close in record time.”

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CHAPEL HILL, NC – Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, recently completed the $7 million acquisition of the Lauradale Apartments in Jacksonville, North Carolina. 

The 155-unit apartment community is located at 2 Aragona Blvd, was 100% occupied at the time of the acquisition. Lauradale adds a second community to Prudent Growth’s portfolio in Jacksonville – the first being Liberty Crossing Apartments, which the group bought in 2018 for $13.2 million.

“This is another fantastic acquisition for PGP. The strong rental demand, coupled with some fantastic value-add opportunities really stood out to us,” said Tom Hahn, President of Prudent Growth Partners. “The location is brilliant – near many retail sites and employment drivers along Western Boulevard. It is also only a couple of miles from Liberty Crossing, which will enable us to manage both properties effectively. The Jacksonville market has been very strong and we are looking for more opportunities in the area.”

Prudent Growth Partners focuses on acquiring garden style apartment communities, typically with 75 to 200 units, as well as neighborhood retail centers and office buildings.

“Our bread-and-butter holdings are Class B or C properties, in strong submarkets, which we believe will provide consistent cash flow and long-term value for our investors – and Lauradale checked all of those boxes,” stated Hahn. 

Prudent Growth Partners has a growing network of accredited investors who participate in each transaction. 

“Our standard transaction is structured to provide immediate cash flow to our investors each quarter – typically an 8% annualized return – as well as long-term upside through the appreciation of the property,” said Hahn. “These are passive investments and they provide fantastic returns with a nice hedge against future inflation.”

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NEW ORLEANS, LA – 365 Connect, a leading provider of award-winning marketing, leasing and resident technology platforms for the multifamily housing industry, announced its platform-wide ADA Accessibility Certification today at the National Apartment Association Apartmentalize Conference in Denver, Colorado. This industry-first certification demonstrates 365 Connect’s dedication in meeting the rapidly changing needs of the multifamily housing industry.

Website accessibility has become a highly discussed topic in the multifamily housing space and beyond. Many legal experts interpret the Americans with Disabilities Act (ADA) to extend to online services since the comprehensive civil rights law mandates that places of public accommodation remove any access barriers that would inhibit a person with disabilities from accessing goods or services. Since websites exist within the public domain, many judicial authorities have agreed with this interpretation of the law, and a number of states have passed legislation and published guidance concerning ADA website compliance.

“Over a billion people, approximately 15 percent of the world’s population, have some form of a disability that makes accessing the web hard,” stated Kerry W. Kirby, CEO of 365 Connect. “We live in an interconnected world, one that is reliant on the internet to deliver information, services and resources through multiple online channels. As physical buildings become more digitally dependent on their websites to transact and interact with both prospective and existing customers, these services must be accessible to everyone, including individuals with disabilities.”

365 Connect received third-party certification from Online ADA, a member of the International Association of Accessibility Professionals and provider of independent Web Content Accessibility Guidelines (WCAG) compliance audits. Recognized as a national authority on digital accessibility, Online ADA has helped thousands of organizations, including Walmart, Chrysler, California State Parks and an array of governmental agencies and municipalities in increasing their digital accessibility. The certification covers the entire 365 Connect Platform, including property websites, lead forms, tour requests, rental applications, portals and payments. The platform has been certified as digitally compliant in accordance with the federally recognized WCAG at Level AA.

“We believe in digital inclusion and are committed to providing services that are accessible to the widest possible audience,” Kirby concluded. “Today, we have made a giant step forward, edging the highly regulated world of rental housing into the 21st century. We are excited to deliver the first certified ADA accessible platform to the multifamily housing industry.”

With an array of highly coveted technology awards, 365 Connect continues to revolutionize the multifamily housing industry with a dynamic platform built on modern-cloud architecture and flexible infrastructure. The platform consumes, integrates and displays data in order to streamline operations without sacrificing a seamless user experience. Today, many of the nation’s most respected multifamily housing operators utilize 365 Connect to unify processes and make efficient workflows.

To learn more about ADA compliant apartment websites, schedule a demo with 365 Connect.

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