Dallas-Fort Worth Multi-Family Equity I

Annualized return3

Target net ann'l cash yield

~6%

Target net ann'l capital app.

~8-10%

Term

60 months

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Status

Closed

Recently funded

Accepting $10,000 - $500,000 investments

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Accepting $10,000 - $500,000 investments

Overview

Performance Update

View the most recent update for Dallas-Fort Worth Multi-Family Equity I.

Important Notes

Unrelated business taxable income (UBTI) is income earned by a tax-exempt entity that is not related to its exempt purpose. UBTI tends to be generated when a tax-exempt entity becomes an owner (in part or full) of a business (such as a limited partnership). LPs may generate taxable income in a retirement account if the partnership borrows money. As such, this offering is not available to pension plans, defined benefit plans, defined contribution plans, retirement plans, IRAs, 401(k) and 403(b) funds, and funds comprised of these plans and funds.

Highlights

Desirable location

Market dynamics

Job demand drivers

Experienced local sponsor

The greater Dallas-Fort Worth area has experienced significant increases in both population and job growth, making it one of the most desirable places to live in Texas. The property itself is located equidistant to both Dallas and Fort Worth CBDs, while still offering discounted living and a 25-30 minute commute to downtown Dallas.
The submarket where the property is located has performed well throughout the COVID-19 pandemic with stable leasing activity, rent growth, and investment. The lack of new development within the submarket during the early 2000’s has led to housing shortages, enabling owners to push rental rates higher while keeping vacancy rates below the Dallas-Fort Worth average. Rent prices still remain lower than the average rent in the broader Dallas-Fort Worth MSA, also contributing to higher renter demand.
- The average vacancy is 4.6% with year-on-year rental growth at 9.7%.
- CoStar predicts that over the next 5 years, vacancy is expected to remain static at ~5% and rents are expected to increase at an average of 5.76% per year.
Job demand drivers in very close proximity to the property include American Airlines' corporate HQ and DFW Airport, with these two companies alone employing more than 240k people. The Great Southwest Industrial District, which totals over 110M SF of industrial space and includes companies such as Cintas and Bell Textron, provides abundant job opportunities. The amount of quality employers in the submarket where the property is located have spurred population growth of 118k in 2020 alone, which was the largest population gain in the U.S. for the year.
Headquartered in Texas, the sponsor, InterCapital Group, was founded in 2010 as an investment management firm focused on the acquisition and repositioning of multi-family assets in the U.S., primarily operating in Texas. InterCapital Group is a full-service vertically integrated investment firm with property and construction management services provided by its affiliate, Dayrise Residential.
\ Since inception, the firm has acquired over 100 assets totaling ~40k apartment units, and has realized investments on 43 assets with an average gross IRR of 24%. Its current portfolio consists of ~19k units with a total value of ~$3B. InterCapital owns 24 multi-family assets in Texas, totalling over 8.3k units, with 14 properties (~5.2k units) specifically in the Dallas-Fort Worth area.

Essentials

Please refer to the Investment Memorandum in the Documents section for more details about this offering.

Capital structure

Where does Yieldstreet lie in terms of priority?

Cash flow

How do I get paid?

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Assets

What is the collateral underlying the transaction?

Returns & Management fees

Ann'l management fee

2.0%

Target ann'l net return

14 - 16%

Inv share in excess profits

100%

Target equity multiple

1.7x - 1.9x

Target ann'l cash yield

~6%

Schedule

Payment schedule

Quarterly + event based

First expected payment date

2Q 2022

Target term

5 years

Structure

Tax document

K-1

Offering structure

SPV

Expenses

Ann'l flat expense

0.25%

Docs

¹ Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in significant losses.

² Represents an average net realized internal rate of return (IRR) with respect to all matured investments in your portfolio, utilizing the effective dates and amounts to and from the investments and net of management fees and all other expenses charged to the investments. Past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. All securities involve risk and may result in significant losses, including the loss of principal invested.[read more]

³ "Annual interest," "Annualized Return" or "Target Returns" represents a projected annual target rate of interest or annualized target return, and not returns or interest actually obtained by fund investors. “Term" represents the estimated term of the investment; the term of the fund is generally at the discretion of the fund’s manager, and may exceed the estimated term by a significant amount of time. Unless otherwise specified on the fund's offering page, target interest or returns are based on an analysis performed by Yieldstreet of the potential inflows and outflows related to the transactions in which the strategy or fund has engaged and/or is anticipated to engage in over the estimated term of the fund. There is no guarantee that targeted interest or returns will be realized or achieved or that an investment will be successful. Actual performance may deviate from these expectations materially, including due to market or economic factors, portfolio management decisions, modelling error, or other reasons.

⁴ Reflects the annualized distribution rate that is calculated by taking the most recent quarterly distribution approved by the Fund's Board of Directors and dividing it by prior quarter-end NAV and annualizing it. The Fund’s distribution may exceed its earnings. Therefore, a portion of the Fund’s distribution may be a return of the money you originally invested and represent a return of capital to you for tax purposes.

⁵ Represents the sum of the interest accrued in the statement period plus the interest paid in the statement period.

⁶ The internal rate of return ("IRR") represents an average net realized IRR with respect to all matured investments, excluding our Short Term Notes program, weighted by the investment size of each individual investment, made by private investment vehicles managed by YieldStreet Management, LLC from July 1, 2015 through and including July 18th, 2022, after deduction of management fees and all other expenses charged to investments.

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