Westbrook Apartments

Westbrook Apartments

Westbrook Apartment Homes is a new 56-unit multifamily development in Riverside, CA located within the core of California’s Inland Empire. The Inland Empire is the largest eCommerce employer in America and has been California’s fastest growing region, by job growth, for the past 10 years. In 2020 alone the Inland Empire absorbed 26M square feet of eCommerce related industrial and logistics space. Additionally, there is another 120M+ square feet of new eCommerce space in various stages of development. These projects are expected to add another 250,000 direct jobs and another 250,000-500,000...

Security Type
Membership Units
Industry
Real Estate
Min Investment
$50,000
Location
Costa Mesa, CA
Min Raise
$25,000
Offering Date
June 09, 2021
Max Raise
$250,000
Expected Close Date
June 30, 2021
Security Price
$5,000

Management

SDC Ventures, Project Sponsor
DC Ventures, LLC (“SDC”) develops and finances real estate and renewable energy projects. The company’s impact investment strategy focuses on socially conscious and green investments within lower-risk asset classes. SDC favors investments that combine tax-advantaged structures with consistent and reliable cash-flow. SDC has successfully developed over 150 renewable energy projects consisting of over 100 Gigawatt hours of solar electricity produced to date. SDC develops these projects with financial structures that maximize tax offsets, tax credits and bonus depreciation. Additionally, SDC is currently developing two apartment complexes in Riverside, CA consisting of 66 multi-family units. In total, the firm has successfully financed and developed over $60 million in real estate and renewable energy projects.

Bill Walters, Senior Managing Director of Fairbrook Communities LLC
In 1978, Mr. Walters formed the Bill L. Walters Companies, with offices in Denver, Colorado and later Dallas, Texas and Atlanta, Georgia. His company was responsible for completing in excess of ten million square feet of newly constructed multi-tenant office buildings, retail shopping centers, athletic clubs, restaurants and hotels .

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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.

Key Deal Facts

During 2020, the Inland Empire’s apartment market was the best performing major metro in the country with 6.5% year over year rent increase and 3.2% vacancy, representing an extremely under supplied market.
The La Sierra neighborhood, where the Westbrook project is located, has outperformed the region with rental growth upwards of 8% over the past few years. This growth is attributable to the aging and antiquated supply of housing, lack of new housing supply, strong demand for newer units, and nearby job growth.
Additionally, the City of Riverside is undergoing a large-scale beautification project within the La Sierra neighbor increasing the area’s appeal to families.
With these factors in mind, Westbrook is well situated to capture a significant portion of the area’s demand as tenants flock to new construction upgrade from older properties on the market.

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