ARCTRUST Private Capital, the capital markets division of the ARCTRUST Group of Companies, announced the launch of Project Rendon LLC, a Regulation D private placement offering available to accredited investors under Rule 506(c). Project Rendon is offering $14,950,000 of Class A Preferred Units with a minimum investment of $50,000.
The offering will help finance the development of a 288-unit, Class A luxury multifamily residential community on a 23-acre land parcel in the Dallas-suburb of Burleson, Texas. The property is being developed by Rendon Residential Partners LLC, a venture between ARCTRUST Group of Companies and Landmark Companies.
“We believe that the Greater Dallas metropolitan region offers some of the most compelling multifamily investment opportunities in the country,” said Chris Wadelin, CEO, ARCTRUST Private Capital. “Population migration is attracted to this area based upon proximity to the Dallas Metroplex high job growth and relatively low cost-of-living. High home prices and limited for-sale single-family homes will encourage them to remain in well-appointed and well-located multifamily communities for longer periods. Project Rendon not only helps to meet this anticipated demand from residents, but we believe it offers impressive income opportunities for our investors.”
The currently vacant 23-acre land parcel is located at 1151 East Rendon Crowley Road in Burleson, Texas, a high-density, high-income suburb in the Dallas-Fort Worth-Arlington metropolitan statistical area. The project consists of the construction of 12 three-story apartment buildings consisting of one and two-bedroom units, along with several resort-style amenities including clubhouse, fitness center, pool, outdoor grill and picnic areas, and a dog park.
Burleson is a growing suburb in the Dallas-Fort Worth-Arlington MSA, which is the fourth largest metro area in the country. A perennial national leader in population and employment growth, Dallas has become a sought-after city for all ages given its centralized location, growing job market, high quality of life, and low cost of living. As one of the nation’s top economic performers, the Dallas-Fort Worth MSA is thriving with a young, highly educated, and vibrant population that attracts businesses and visitors alike, so much so that the area’s population growth rate is projected to be more than two times the national average. It was recently named the #1 Real Estate Market by Urban Land Institute and PricewaterhouseCoopers.
