TEMPLE I

TEMPLE I

Invest in a smart-tech student housing development next to Temple University

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Security Type
Membership Units
Categories
Service Businesses
Min Investment
$79
Location
Philadelphia, PA
Offering Date
August 20, 2020
Expected Close Date
April 30, 2021
Target Raise
$100.00K-$360.00K
Deal Notes

Address: 2200 North 11th StreetPhiladelphia, PA

Type: Co-living

Year built: 2020

Total capitalization: $1,525,000

Anticipated hold period: 7-10 years

Targeted IRR: 12–15%

Valuation
$2,352,433

Company Description

TEMPLE I is the Phase I development of a 100-bed tech-powered student housing development by Temple University being developed by NYCE Companies, Inc. Phase one is 10,000 square foot, 17-bedrooms/coliving units in the North Central Philadelphia area, directly across Temple University’s football training field and two blocks campus. TEMPLE I will include a total of 4 bi-level coliving apartments, with four coliving units/bedrooms in each. Tenants will lease individual bedrooms within the apartments.

Use of Proceeds

  • Construction Costs: 96%
  • Intermediary Fee: 4%

Management Team / Advisory Board Bios

Philip Michael - Founder, NYCE
Philip is an award-winning entrepreneur, author and real estate developer. He’s built an eight-figure development portfolio since 2017.

Martin Braithwaite - Co-founder, NYCE

Vineet Kumar - Head of Creative

Nat Remy - Head of Community

Dmitriy Ishimbayev - General Counsel

Michael Hallett - Project Manager/Builder

Deal Notes

Address: 2200 North 11th StreetPhiladelphia, PA

Type: Co-living

Year built: 2020

Total capitalization: $1,525,000

Anticipated hold period: 7-10 years

Targeted IRR: 12–15%

Amount Raised : $360,000
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Security Description

Membership Units represent ownership rights in a Limited Liability Company, indicated by the right to receive cash or unit distributions, declared by the Manager(s) of the LLC, and having voting rights in the governance of the Company.

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