3101 Spencer Hwy, Pasadena, TX 77504
Parkside Place is a leasehold ownership position in a 321-unit multifamily investment property located in Houston, TX that has the potential to generate attractive risk-adjusted returns for investors by way of planned renovations, increasing rents, and a full tax abatement through a partnership with the Southeast Texas Housing Finance Corporation.
Purchase Price
Targeted Hold Period
Targeted IRR1
Targeted Equity Multiple2
Stabilized Cash-on-Cash Return3
Parkside Place provides investors with the opportunity to access the highly competitive multi-family Texas market through local sponsors with significant local experience in multi-family and affordable housing projects. At a cost of $84,000 per unit, this is a discount to recent comparable sales which have sold at significant premium, it offers an attractive year 1 cap rate of 7.25%.
This property has the potential to generate attractive risk-adjusted returns for investors due to factors that include; high barriers to entry, limited new supply under construction, and consistent rent growth across the submarket providing a solid fundamental base for upgrading units and growing rents at Parkside Place. FNRP ownership will acquire the asset fee-simple, then transfer the property to the Southeast Texas Housing Finance Corporation as a ground lessor with FNRP ownership retaining a leasehold ownership position post-closing. The ground lease will provide a full real estate tax abatement for the entire 99-year term of the ground lease, resulting in immediate NOI growth and value creation.
The location of the property is close in proximity to high quality retail and community services, as well as Beltway 8 and Interstate 45 which provides residents quick access to Houston’s major employment centers. Parkside is ideally situated in an area that has seen an increasing demand for multi-family housing due to relative affordability and access to quality education and growing local demand drivers like Port of Houston, Bayport Industrial District, NASA, and Hobby Airport. There are 292,000 people within a 5-mile radius with an average household income over $71,000, making it an ideal location for multi-family housing.
We are happy to furnish you with as many references as you would like including past partners, lenders, brokers, and other professionals we have closed or worked with in the past. Please keep in mind, past performance is no indicator of future results and you should read the offering documents carefully
As one of our partners, you have direct access to the principals of the firm and their investor relations support team. All inquiries are handled via white glove telephone support as well.
We have developed a proprietary investor portal to allow our partners to track their investments and get access to key reports and tax forms. As a partner, you will have your own dedicated account. Formal reports are generated and provided quarterly in addition to monthly leasing updates.
Full financial reports are generated each quarter along with written formal updates. Leasing updates go out monthly. From a tax standpoint, you will receive a K-1 for your interest in the partnership each year. K-1s typically go out by March 15th of each year.
Yes. Our offerings are only available to accredited investors. You will need to prove your status as an accredited investor to participate in any FNRP sponsored offering.
Yes. You will need to utilize the services of a self-directed IRA custodian to facilitate an IRA or other retirement account investment. We can make recommendations to qualified service providers or are happy to work with your custodian in the event you already have engaged with one.
Anticipated returns will depend on the risk profile of each transaction and the terms of the offering. All returns presented on the platform are net of all fees. While we model returns conservatively, and do extensive underwriting on each offering before putting it on the platform, it’s important to note that all investments carry risk. Be sure to review the specific set of risk factors for each offering you consider.
Most offerings hit or exceed their full funding amount. In the event that an offering fails to hit its funding target, all investor commitments will be refunded in full with no fees deducted. Please note that, to date, this situation has never occurred.
Once you determine you are investing in a particular offering you will be guided through a secure process to complete your investment. Funding can be completed by check or wire.
The minimum will vary from offering to offering. The investment minimum is most commonly $50,000. Additional shares are typically offered in increments of $1,000 above the minimum.
Any person or entity with a U.S. tax identification number (social security number or Employer Identification Number), and who meets the SEC’s definition of “accredited investor” is eligible to participate in First National Realty Partners investments. While most of our investors are U.S. citizens, some are legal residents of the United States or foreign nationals who own or partially own an investing entity incorporated in the United States.
If you are interested in investing, you’ll need to self-certify that you’re an accredited investor and will need to tell us how you qualify. Your personal financial information will be kept private in accordance with our privacy policy.
For the full definition please click here. The federal securities laws define the term “accredited investor” as any of the following:
Yes. We are partnered with Midland Trust to offer investments via self-directed IRAs. We are also able to work with certain other SDIRA custodians. For further questions regarding the process, please contact investors@fnrpusa.com or by phone at 888-314-8736
Assets Under Management
Current Assets
Held
Total Investor Distributions
Since Inception
GLA Acquired Since
Inception
Current States
Present
Investors
3101 Spencer Hwy
Pasadena, TX 77504
“…In my experience in working with FNRP, I have seen a genuine desire to build trust and forge partnerships with all stakeholders through their transparency and integrity…”
Investor
Welcome Investors
Select the best option to get started.
Investment Request
"*" indicates required fields
Investment Request
"*" indicates required fields