Viking Capital Introduces Park 33
A Prime Multifamily Investment Opportunity in South Bend, MSA
SOUTH BEND, Ind., July 12, 2023 (Newswire.com) - Viking Capital, a leading private equity firm, is thrilled to announce the launch of Park 33, a premier multifamily investment opportunity located in the heart of South Bend MSA. With 188 units and a Core-Plus Value-Add asset classification, Park 33 offers exceptional potential for value enhancement and remarkable returns for investors.
Situated in the nation's #1 area for year-over-year rent growth, Park 33 presents an outstanding investment proposition. The property boasts a two-phase strategy that will be implemented to unlock its tremendous value-add potential. Furthermore, Park 33's existing stellar performance provides a strong foundation for investors, making it an extraordinary opportunity in the market.
Viking Capital plans to assume the remaining 7-year, $18.3 million Freddie Mac loan at an attractive 3.08% interest rate with an interest-only period through May 2025. This low rate not only surpasses the current debt market but also offers positive leverage and robust cash flow for investors.
One of the key factors that influenced Viking Capital's strategic choice of South Bend MSA is the area's exceptional economic potential. Conveniently located near north central Indiana's largest job clusters and within close proximity to Chicago, Park 33 benefits from excellent access to numerous and diverse employers. This advantageous location creates a strong foundation for sustained tenant demand and increased investment stability.
Additionally, Viking Capital's prior experience in the South Bend market speaks volumes about the area's growth potential. Another property owned by Viking Capital in South Bend has experienced an astounding increase in value by over $10 million in just two years. This nearby property provides operational economies of scale and enhanced exit liquidity, including an enticing opportunity to exit to an institutional investor.
The South Bend, Indiana market is poised for further growth, and Viking Capital is excited to be at the forefront of this expansion. Park 33 represents an exceptional opportunity for investors seeking long-term value creation, attractive returns, and the prospect of capitalizing on the thriving South Bend real estate market.
For more information about Park 33 and to explore investment opportunities, please visit www.vikingcapllc.com.
NOTE: This offering is an SEC Reg D 506(c) offering available to accredited investors only.
About Viking Capital: Viking Capital is a prominent private equity firm specializing in identifying and executing strategic investments in multifamily syndication. Viking Capital has acquired over $800 million in assets. With a proven track record of delivering exceptional returns and an unwavering commitment to investor satisfaction, Viking Capital is dedicated to maximizing value and capitalizing on emerging market opportunities.
Source: Viking Capital
