RealtyeVest has a stake in all real estate investments offered in our marketplace.
Noble Life Residential has exclusively retained RealtyeVest to offer accredited investors the opportunity to invest in RealtyeVest Fort Mill, LLC. The proposed assisted living facility, Confederate Assisted Living, will be a luxury residential assisted living facility in the Charlotte Metropolitan Area.
This offering will be secured with a mortgage having 1st lien position1 and evidenced by a promissory note that pays a 10% annual yield. Investors can expect to receive interest checks every three months paid in advance.
The plan for the home is to add additional bedrooms with individual access, a wraparound porch, adding security systems and cameras throughout the home. Modifications are also being implemented to the bathrooms to accommodate wheelchair access, eliminating trip hazards, and other modifications spelled out in the construction budget located in the documents section.
Upon completion of the project, Confederate Assisted Living plans to have a 24-hour on-site caregiver and chef to prepare three nutritional meals per day. The faculty has the experience and ability to provide a residential community setting that gives seniors dignity and a higher quality of life at a competitive price compared to the institutional setting that’s considered standard in the industry.
The borrowers will modify and rehab the home within 6 months and begin to fill with tenants over the following 6 months. During the second 12-month period, the borrowers will season the property at a stabilized occupancy. They will prepare for and complete long-term financing to repay all the principle to RealtyeVest’s investors.
Security - The loan is secured by a first position lien.
High Demand -Over 70 million baby boomers will be retiring over the next 15 years, an average of 10,000 retiring every day. 4,000 people are turning 85 every day, 70 percent of these people will need support living accommodations for an average of 3.5 years.
Pricing and Business Plan - Noble Life Residential Living is prepared to offer a better-quality living space with exceptional care quality at a far better price than the competition. They will benefit from not having a large institutional staff overhead and a more marketable service.Escrowed Interest - The borrower will be placing 16 months interest in escrow to ensure payments to investors during the construction and lease-up phase.
11st Lien Position - A lender or creditor in a first lien position has priority in case a debtor defaults and collateral has to be liquefied to settle the debt. For example, mortgage lenders are usually in a first lien position; if a borrower defaults on his payments the mortgage lender is the first creditor to receive remuneration from the sale of the property.
The offering materials to be reviewed and considered by investors with respect to this offering include the information described in the website content relating to this offering (as amended and supplemented through and until the closing of the transaction) and the subscription agreement relating to such securities (see the "Documents" tab). We refer to all of this information collectively as the "Property Information Package". Investors should review the Property Information Package in its entirety before investing and should consult with appropriate legal, tax, and investment advisors. Please note that RealtyeVest is not serving as your fiduciary or advisor with respect to this opportunity.
Below are certain risks associated with this investment that should be carefully reviewed prior to any investment in this opportunity:
Forward-Looking Statements: Investors should not rely on any forward-looking statements made regarding this opportunity, because such statements are inherently uncertain and involve risks. We use words such as “anticipated,” “projected,” “forecasted,” “estimated,” “prospective,” “believes,” “expects,” "plans,” “future,” “intends,” “should,” “can,” “could,” “might,” “potential,” “continue,” “may,” “will,” and similar expressions to identify these forward-looking statements. Similarly, the financial forecasts contained herein and in any other offering materials are based on numerous assumptions. Although these assumptions are believed to be reasonable, they are all subject to uncertainty. Non-Transferability of Notes: The transferability of the Company's Notes is restricted both by the subscription agreement for that entity and by U.S. federal and state securities laws. In general, investors will not be able to sell or transfer the Notes. There is also no public market for the Notes and none is expected to be available in the future. Moreover, although there is a defined redemption date for the preferred equity investment in the Fund, an extension option may be exercised and in any event, there can be no assurance that the investment will be liquidated at or promptly after such maturity date (as it may be extended). Persons should not invest if they require any of their investment to be liquid. This is particularly important for persons of retirement age, who should plan carefully to assure that their assets last throughout retirement.
Real Estate Market Risk: Investments related to real estate are subject to market valuation risks that may be caused by changing economic and local market conditions such as local real estate market conditions, prevailing interest rates, the rate of unemployment, the level of consumer confidence, the value of the U.S. dollar, energy prices, changes in consumer spending, the number of personal bankruptcies, disruptions in the credit markets and other factors. Such conditions are beyond the control of the Company and of the Fund. Real estate markets are affected by many factors, such as general economic conditions, supply and demand for real estate investments, interest rates, the availability of financing, and other factors, all of which are beyond the control of both the Company and the Fund.
Borrower Credit Risk: The Company’s obligation to make payments on a Note will not be guaranteed for the length of the term corresponding to the borrower’s loan. The Company (and thus investors) will be relying on the borrower for the execution of its business plan in a way that enables the sponsor to repay the principal of the corresponding borrower loan. The borrower may not have a significant record of performance and may be unable to sell or refinance the underlying property in a way that enables the borrower to fulfill its obligations under the corresponding borrower loan. The borrower loan is being made with respect to a property that does not generally meet the financing criteria for conventional mortgages from institutional sources. Credit risk is inherent in the mortgage lending industry, and there can be no assurance that the creditworthiness of the borrower will be sufficient to assure the full repayment of the underlying borrower loan. The Company does not guarantee payment of the Notes or the corresponding borrower loan, and the Notes are not obligations of our borrower.
Ed and Karen Craig—Mr. and Mrs. Craig are a husband and wife team that own Caves to Castle Homes, LLC. Mr. Craig has a North Carolina Real Estate Broker’s license and has his B.A. in Finance from Northern Illinois University. Through Caves to Castle Homes, Mr. and Mrs. Craig have successfully purchased, renovated and resold over a dozen homes within the past few years bringing in substantial returns for their investors. Prior to founding his own company, Mr. Craig worked for almost two decades as an executive focusing on human resources, finance and collections. Together, Mr. and Mrs. Craig have over 40 years’ experience in the areas of management, sales and marketing, accounting and finance.
With their knowledge and expertise in the local real estate market, Mr. and Mrs. Craig will take the lead in identifying suitable properties, purchasing them, and either renovating them or building new, both to comply with the necessary state regulations regarding senior care but also to make the properties functional and aesthetically pleasing.
Confederate Assisted Living Home offers a more intimate way of living for those needing to relocate to an assisted living facility. This location offers the city feeling while being within the Charlotte Metro MSA and less than 20 miles from downtown Charlotte.
The established home will go through extensive renovations, to include a wraparound front porch, a screened-in deck, garden, community rooms, fitness center, Wi-Fi, individual thermostats, large dining area, new hospital-grade floors, a sprinkler system and 24-hour advanced security. Plans also include the conversion of a two-space carport and workshop space into a (fourth) bedroom.
Confederate Assisted Living is located less than 18 miles from downtown Charlotte; banking and financial districts; and professional sports arenas.
|Property Address||315 Confederate Street Fort Mill , SC 29715|
|Property Type||Assisted Living|
|# of Bedrooms||4|
|# of Bathrooms||4.0|
|Finished Square Feet||3,209|
|Property Appliances:||Microwave, Refrigerator, Dishwasher|
This Fort Mill, S.C. residential home will be turned into a residential assisted living facility. The city of Fort Mill is located in York county; a suburb of Charlotte, N.C. The Charlotte metropolitan area is home to 8 fortune 500 companies and 7 fortune 100, including Bank Of America, Lowe’s Home Improvement Stores, Duke Energy, Nucor Steel and Seal Air Corporations. It is also home to Nascar.
With over 2.63 Million people living within the Charlotte Metro MSA making it the 6th largest metropolitan area in the Southeast region. The Charlotte Airport is the 6th busiest airport in the nation.
The average salary within the Charlotte MSA is over $55,000 dollars.
The top 10 Employers are as follows:
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