QOZ Fund I

Haven at Washington

Phoenix,

AZ

Total Required Equity
$28,418,321
Asset Type
Multifamily
Investment Objective
Development
Investment Date
October 2021
Projected IRR
17.00%
Projected Net Multiple
2.00x

Investment Summary

Haven at Washington will be a five-story wrap-style Class-A multifamily development with 343 units in downtown Phoenix, AZ. The development site is located immediately adjacent to the light rail platform. Phoenix is experiencing some of the highest annual rent growth in the country at 26.4% from 2020 to 2021 due to the influx of people moving to Phoenix since the beginning of the COVID-19 pandemic. This property sits in an excellent qualified opportunity zone, which is otherwise restricted to high-rise developments and our wrap-style offering will be priced below these counterparts. Amenities at Haven at Washington will include a resort-style pool, yoga/spin studio, fitness center, dog park and structured parking. Our development partner on this deal is Guefen Development.

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