OpenPath Investments launches groundbreaking $6 million offering for Las Vegas’ Lake Tonopah Apartments
LAS VEGAS and SAN RAFAEL, Calif. (PRWEB) September 30, 2015 -- OpenPath Investments has launched a $6 million equity offering for the purchase of Lake Tonopah Apartments, a 356-unit senior housing complex in Las Vegas, Nevada.
The offering is one of the first Las Vegas multifamily projects opened to direct private investment via real estate crowdfunding. OpenPath Investment’s online investment platform at investments.openpathinvestments.com makes the offering accessible to all accredited investors in the U.S. Accredited investors are individuals with more than $200,000 in annual income or a net worth in excess of $1 million, excluding their primary residence.
Based in San Rafael, California, OpenPath has been implementing its unique social impact strategy at multifamily properties for more than 10 years. The strategy, dubbed the “Urban Village” concept, promotes community building and environmental stewardship, and the result is happier, longer term residents combined with impressive investment returns for OpenPath’s socially conscious investors.
“Our Lake Tonopah offering gives socially conscious investors a tremendous opportunity to promote healthy, thriving communities while earning handsome returns,” OpenPath Managing Director Peter Slaugh says. “I am excited to show a new wave of investors what our past investors already know — it is possible to be a force for positive change and still make a good return on investment.”
OpenPath estimates that the new Lake Tonopah Apartments investment will garner investors a 19 percent internal rate of return. The property, constructed in 1996, offers affordable housing to senior adults and includes amenities such as a resort-style swimming pool, spa, picnic area, clubhouse and fitness center. The property features 22 garden-style apartment buildings and a leasing office. It has averaged 92 percent occupancy and features easy access to Interstate 15 and nearby centers of commerce.
Investors can access the Lake Tonopah Apartments investment summary and documents by creating a free user profile on OpenPath’s new online investment platform. Once the investment closes, investors will be able to access stored investment documents and receive, view and print annual tax documents and sponsor reports directly from their investor dashboard. Investors who continue to invest with OpenPath can access all of their investment documents and information in a single investor dashboard.
OpenPath’s investor portal is powered by Investor Management Services, LLC, a QuietStream Financial portfolio company located in Charlotte, North Carolina.
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About OpenPath Investments
OpenPath Investments is a triple bottom-line company with more than a decade of experience creating value for its investors, its tenants and its communities. OpenPath specializes in multi-family acquisitions. Its portfolio currently totals more than 2,100 apartment units valued at over $260 million and with a historical investor rate of return of 18%+. The company achieves above-market investment returns through positive social and environmental impact strategies. OpenPath works with accredited investors and has options for investments at various capital levels. For more information, visit OpenPath’s website, http://www.openpathinvestments.com,.
About Investor Management Services
Investor Management Services offers commercial real estate owners a comprehensive technology platform developed by commercial real estate professionals to attract, engage and manage investors. Featuring online fundraising, intuitive investor and sponsor dashboards, document storage and delivery, and live customer service, each platform blends seamlessly with the sponsor’s existing marketing site. Visit Investor Management Services at http://www.investormanagementservices.com.
Adam O'Daniel, Investor Management Services, http://www.imscre.com, +1 (704) 940-9754, [email protected]
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