Hey everyone — wanted to share a deal we’ve been working on. We’re acquiring Highland Park, a 39-unit Class A multifamily property in Buffalo, NY for $4.7M ($120,513/unit). The property was built in 2019, so this isn’t a traditional heavy value-add play. The opportunity is primarily in the basis, below-market rents, and improving operations. A few highlights: - 39 units / 3 buildings - 2019 construction - $4.7M purchase price - ~$1.85M LP equity raise - 70% LTV assumption - 8% cumulative pref / 70-30 split - 5-year hold - 17%+ projected LP IRR / 1.9x+ EM One of the things I really like about this deal is that we aren't relying on a massive renovation program to make the numbers work. The units already have granite countertops, stainless appliances, LVP, central A/C and in-unit laundry. The primary business plan is to professionalize management, tighten operations and move rents toward market as leases turn. See for yourself with these Matterport virtual tours: 1 bed/1 bath (Type B): https://my.matterport.com/show/?m=853fBJbNFpv 2 bed/2 bath one story (Type C): https://my.matterport.com/show/?m=LNNwUpnBwWL&brand=0 2 bed/2.5 bath (Type D): https://my.matterport.com/show/?m=kdJBeMCVY9w&brand=0 2 bed/2 bath (Type E): https://my.matterport.com/show/?m=CqRRktCenPB We're now working through the capital raise and closing process, so I figured this would be a good one to share with the group. I'd especially love to hear from anyone who has recently raised $1M–$2M+ for a deal. What worked best for you during the final stretch of the raise? And obviously, if anyone in the group is an accredited investor and wants to look under the hood, I'm happy to share the underwriting and full deal package. No pressure at all — I'm equally interested in feedback from other operators.