REAP CAPITAL

Track Record

The Chandler

Secured pre-market, The Chandler served as the replacement property for the sale of Sierra Heights. We plan to spend $7,400 per unit on interior renovations and $6,600 per unit on exterior renovations.
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Target IRR:

15.31

Target Equity Multiple:

1.90

Sutton on Park Lane

The Sutton on Park Lane is 196-unit multifamily property built in 1971. We plan to spend $12,912 per unit on exterior upgrades and $5,995 per unit on interior renovations.
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Target IRR:

15.8%

Target Equity Multiple:

1.87

Paxton at Lake Highlands

Paxton at Lake Highlands is a well-located, stabilized yet under-performing asset that was the perfect replacement property for our 1031 Exchange. We were successful in coordinating the sale of two assets to coincide with the acquisition of Paxton at a challenging time in the debt markets with interest rates rising at a pace not seen in almost 30 years.
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Target IRR:

15.8%

Target Equity Multiple:

1.88

The Mirabel

Mirabel is an 86-unit multifamily property built in 1970. Significant value-add potential exists through interior/exterior upgrades as it is currently 100% classic. We plan to spend approximately $9,124 per unit on interior updates and approximately $8,500 per unit on the exterior and amenities.
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Target IRR:

18.93%

Target Equity Multiple:

2.06

Sierra Heights

Off-market, self-managed, long-term prior ownership, Sierra Heights checked all the boxes. Due to poor in-place management, vacancy at acquisition was 86% compared to a 97% submarket average and rents were an average of $188 below market. We will be bringing in our own onsite staff and investing $7,000 per unit on improvements.
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Target IRR:

20.2%

Net IRR:

37.24

Equity Multiple:

1.86

Hold Period:

25MO

Liberty Park

Prior to purchase, Liberty Park was a redevelopment aimed at providing affordable housing for our nations veterans. With significant in place yield of over 10% and future value add potential, we chose to continue to operate this asset as affordable housing until the market justified repositioning the property. Monthly distributions currently exceeding preferred return.
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Target IRR:

22%

Net IRR:

49%

Equity Multiple:

2.05

Hold Period:

23MO

Hwy 380 Self Storage

This mismanaged asset was at 16% occupancy at acquisition. Before takeover, this facility had no digital footprint and marketing was limited to signage. By employing an aggressive online marketing campaign and completing strategic facility improvements and automation, we took our monthly revenue from $4k to $20,000 in just over two years.
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Target IRR:

22%

Net IRR:

61.49%

Equity Multiple:

2.9

Hold Period:

27MO

The Palm On Ray

At acquisition, rents at The Palm were an average of $250 below market. We planned to spend $175k renovating all 16 units to achieve $16,000 in monthly rents. We exceeded our projected monthly gross rents in just over 12 months by renovating only half of the units and sold after 19 months for 65% return to investors.
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Target IRR:

30%

Net IRR:

43.58%

Equity Multiple:

1.64

Hold Period:

19MO

The Beach @ Bayshore

The Beach at Bayshore is located in a phenomenal Class A submarket of Tampa, Florida. Surrounded by brand new high-rise developments and located on 1 of 11 contiguous parcels, the potential for future development is inevitable. The initial strategy a value add play, rents were raised 25% after renovations which increased our equity in this asset by over 26%
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Target IRR:

16%

Net IRR:

10.51%

Equity Multiple:

1.5

Hold Period:

55mo

TRACK RECORD

Reap Capital has returned an average 40.26% IRR to investors since inception.
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ASSETS UNDER MANAGEMENT
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TRANSACTIONS SINCE 2018
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