SFR Diversified Fund I

Annualized return3

Term

30 months

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Status

Closed

Recently funded

Accepting $15,000 - $500,000 investments

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Accepting $15,000 - $500,000 investments

Overview

Important Notes

Unrelated business taxable income (UBTI) is income earned by a tax-exempt entity that is not related to their 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

Current housing shortages

Increased SFR demand

Strong rental and sales markets

Two sources of cash flow

Experienced originator

The limited housing supply across the U.S. is expected to support a sustained bull market in single family homes. Over the last 10 years, the number of newly constructed homes added to the market was roughly half that of the prior decade. According to Zillow, currently, there is fewer than three months of supply of homes on the market, the lowest on record since the turn of the century.
The recent COVID-19 pandemic has accelerated an existing trend of millennials moving to the suburbs in search of space and communities to raise families. Due to factors such as the lack of entry-level homes, rising home prices, and record levels of college debt, millennials may be unable to purchase a home, leaving single family home rentals as an affordable option.
Properties in the portfolio are expected to be geographically diversified across the southeast and southwest U.S. The Fund will primarily source assets in the following markets: Dallas, Kansas City, Tampa, Orlando, Jacksonville, Atlanta and Charlotte. According to John Burns Consulting, rent growth for target geographies is expected to range from 4.0% to 7.0% annually over the next 2-3 years. House prices are also expected to increase over the same time period. View the John Burns Consulting Single Family Rental Forecast here.
The portfolio consists of income generating assets. The homes are expected to generate income via rents, which are expected to be increased once renovations are complete, and via profit once the homes are sold as expected.
Avenue One is the originator of the transaction and a service platform that offers institutional investors access to the single family rentals asset class at scale. The platform combines data, advanced analytics and technology to empower acquisition and operational specialists to find, buy, renovate, lease and manage properties on behalf of investors.
Avenue One has been mandated by some of the world's largest insurance and private equity funds to identify, buy and manage thousands of homes, deploying billions of dollars into SFR investments. In April 2021, it was recognized as a "Turnkey Platform revolutionizing housing" by JBREC."
Learn more about Avenue One here.

Essentials

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

Capital structure

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Cash flow

How do I get paid?

Assets

What is the collateral underlying the transaction?

Returns & Management fees

Ann'l management fee

Target ann'l net return

12% - 14%

Inv share in excess profits

100%

Target equity multiple

1.2x - 1.3x

Target ann'l cash yield

~5.5%

Schedule

Payment schedule

Event based

Prefunded

Yes

Target term

27 months

Structure

Tax document

K-1

Offering structure

SPV

Expenses

Ann'l flat expense

0.25%

Docs

Content

Investing in private markets and alternatives, such as this offering, is speculative and involves a risk of loss, and those investors who cannot afford to lose their entire investment should not invest. Returns are not guaranteed.

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.

⁷ Investors should carefully consider the investment objectives, risks, charges and expenses of the Yieldstreet Prism Fund before investing. The prospectus for the Yieldstreet Prism Fund contains this and other information about the Fund and can be obtained by emailing [email protected] or by referring to www.yieldstreetprismfund.com. The prospectus should be read carefully before investing in the Fund. Investments in the Fund are not bank deposits (and thus not insured by the FDIC or by any other federal governmental agency) and are not guaranteed by Yieldstreet or any other party.

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