Rodeo Drive
Origin is offering accredited investors the chance to participate in a $29.4 million joint venture equity investment for the development of Rodeo Drive, a 340-unit, Class A community in East Austin, Texas. This rapidly growing and affordable neighborhood is located near downtown and key employment centers.
Rodeo Drive is positioned to benefit from significant regional growth, including a $6 billion airport expansion and major nearby developments. The project also includes a 75-year tax abatement and sales tax exemption on materials, providing substantial cost savings.
| Target Net IRR2 | 16.5%–19.5% |
| Target Net Multiple2 | 1.5x–1.7x |
| Estimated Hold Period3 | 36 months |
- The equity commitments are based on non-binding expressions of interest in acquiring an equity position in the sidecar; amounts available for purchase may vary and will be subject to the sidecar’s offering materials.
- The investment’s target returns are presented to establish a benchmark for future evaluation of the investment’s performance, to provide a measure to assist in assessing the investment’s anticipated risk and reward characteristics, and to facilitate comparisons with other investments. Any target data or other forecasts contained herein are based upon subjective estimates and assumptions about circumstances and events that may not yet have taken place and may never take place. Targeted returns are pre-tax but net of anticipated fees and expenses. There can be no assurance that the investment will achieve comparable results or meet its target returns.
- The 36-month hold period is the estimated period prior to a sale of the property and is based on the reasonable expectation of the investment manager; there can be no assurance that the hold period will not be longer. Please see the Confidential Private Placement Memorandum of OIG Rodeo FS, LLC for details.
