ATLANTA PORTFOLIO MEDICAL 24 CLOSES
ATLANTA PORTFOLIO MEDICAL 24 closed on 17 December 2019. The transaction concluded in the USA at a purchase price of $9,330,000, using the equity raised from investors, together with a short-term loan from an underwriting fund set up by the company for this purpose. The short-term loan enabled OrbVest to honour the closing date commitment before the Christmas holidays.
As we endeavour to give investors more certainty and clarity, we intend to use short term bridging funds on all new projects. It gives us the ability to plan our year, set closing dates with sellers knowing that we have the equity available to honour our commitment, without needing co-ordinate the raise of all the equity from Investors prior to the closing date. Investors can also invest with the certainty that their capital will be working for them from the set date, specifically, those of you who invested in Medical 24 are already worth more than you invested.
We will continue to raise the balance of the equity required to pay down this short-term loan and a listing notice will be sent out once the full equity is raised and the project listed on MERJ exchange, planned to be in early March prior to the dividend distribution date.
We will update all who have invested already on progress with lease-up, and the possibility of compressing this into a two year project.
We look forward to another successful OrbVest investment scheme and welcome all new investors to our family.
- The buildings are all well located in the greater Atlanta Area.
- 7 Medical Office Buildings 83,164 Square Feet in Total. The portfolio of buildings will spread the risk.
- Projected Cash on cash: 8,6% (Yr1) / 8,4% (Yr2) / 8,9% (Yr3)*
- Projected IRR = 14,08%*
- Earn returns immediately as the deal has already closed
- Only $538 000 of equity still available
- Holding Period planned is 3 years
* Past performance is not indicative of future results. Subject to terms and conditions.
Do not hesitate to contact an Investment Consultant for more information.