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Residential and Multifamily pools show signs of immediate return on investment as more home owners become renters during the down market. Many of these pools are performing and will return a consistent return through monthly note payments which will be disbursed to our investors on a monthly basis. There may be some opportunity for non-performing pools as well which will result in real estate ownership. Crown will operate the real estate and potentially sell for a short term capital gain, or hold until the market recovers with an anticipated sell date within 3 years.
We have experience in commercial real estate ownership, management, leasing, and sales so we are prepared for the holding costs and ownership experience. Our investment partnerships take this into account and retain an escrow account for each pool with a predetermined reserve fund for these expenses.
As you can see below, the deals are selling at large discounts from 88.6% off the book value with most averaging over a 50% discount.
Recent Sales for Residential and Multifamily Real Estate Backed Pools
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| 2/24/2009 |
RE\Residential |
Perform/Nonpref |
76 |
$5,806,855 |
$661,981 |
88.60% |
| 2/24/2009 |
RE\Residential |
Performing |
230 |
$13,632,992 |
$1,554,161 |
88.60% |
| 2/24/2009 |
RE\Residential |
Perform/Nonpref |
23 |
$5,959,264 |
$1,269,323 |
78.70% |
| 2/12/2009 |
RE\Residential |
Perform/Nonpref |
265 |
$27,535,646 |
$6,099,146 |
77.85% |
| 2/24/2009 |
RE\Residential |
Performing |
53 |
$3,375,150 |
$750,000 |
77.78% |
| 2/24/2009 |
RE\Residential |
Non-Performing |
7 |
$5,257,488 |
$1,693,885 |
67.78% |
| 2/12/2009 |
RE\Residential |
Perform/Nonpref |
148 |
$10,208,499 |
$3,384,118 |
66.85% |
| 2/24/2009 |
RE\Residential |
Perform/Nonpref |
70 |
$12,135,202 |
$4,138,104 |
65.90% |
| 2/12/2009 |
RE\Residential |
Performing |
30 |
$890,572 |
$366,470 |
58.85% |
| 2/24/2009 |
RE\Residential |
Performing |
9 |
$4,497,700 |
$2,098,316 |
53.35% |
| 2/13/2009 |
RE\Residential |
Perform/Nonpref |
70 |
$3,884,331 |
$2,142,208 |
44.85% |
We are packaging investments in pools today, and most only have a 30 day window, so Contact Us today if you are interested in participating.
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