Peyton Lofts

Spokane, WA

4-degrees
Peyton Lofts will have 96-unit Class A apartments and is located in the heart of bustling downtown Spokane, with the city's leading developer Four Degrees. This project also has over 16,500 sq. ft. of fully-leased retail tenants. The Spokane area has seen tremendous growth over the past twenty years, and this trend continues to accommodate the demand for Class A multifamily residential housing in the area, spurred on by the great number of technology, aviation, manufacturing, and services companies, locating and growing in downtown Spokane. The demand for Peyton Lofts is also benefiting from the increase in student demand for housing, as Peyton Lofts is just blocks away from the main campuses of Gonzaga University, Eastern Washington University, and Whitworth University, as well as the University of Washington/Georgetown University School of Medicine, Washington State University School of Medicine, and Gonzaga University Law School.
 
Peyton Lofts will be a mix of studios, as well as one and two bedroom apartments with all the amenities desired by residents including,washer/dryer in every unit, multiple elevators allowing for fast access to the first floor, a fitness room, game room, theater, work stations, conference rooms, storage lockers, bike storage, and indoor climbing wall and a resident café.

 

40
Fund Equity
$20,300,000
Asset Class
Multi-Family
Number of  Units
96
 
Estimated Cash-On-Cash Annual Return 16.20%2
Estimated Completion Date
June 2024
Preferred Annualized Return
10%
1
 Equity Multiple 2.78x2 Open for New Investments

Footnotes: (1) Per project preferred returns are set by the fund manager, ICOZ Manager, LLC. The preferred returns are contractual in nature as they are displayed here. There is no guarantee that investors will receive their preferred returns. (2) Estimated Cash-on-Cash Annual returns, and Equity Multiples for each project is based on projected project cash flows, and current pro form assumptions.