Last week, we received an executed contract to purchase all three phases of Haselton for $14,062,000. The sale is expected to be finalized in early Q2 of 2025. This comes after receiving LOIs from a national home builder in July to purchase Phase III: The Cliffs at Lake Lanier & in September to purchase Phases I & II.ย
Haselton is next to Lake Lanier in Gainesville, GA, and has been in our portfolio since 2016.
The purchase agreement for all three phases is as follows:
Haselton Phases I & II
Under Contract: $9,706,000
$46,000/lot – 211 lots
The Projected GP Fund Returns for Phases I & II:
Fund Level IRR: 45.3%
Fund Level EM: 1.65x
Haselton Phase III: The Cliffs at Lake Lanier
Under Contract: $4,356,000
$36,000/lot – 121 lots
The Projected GP Fund Returns for Phase III: The Cliffs at Lake Lanier:
Fund Level IRR: 30.02%
Fund Level EM: 2.18x
Reinvesting Realized Returns
The sale of Haselton Phases I, II & III will realize returns for Investors. Realized returns are automatically reinvested into the Fund, increasing the share value of an investor’s original investment. This process continues until the Investor chooses to exit the Fund.
NAV Increase – January 1, 2025
Since the Q3 Fund Update two weeks ago, we have received an additional $3MM in committed capital. That puts us close to $22MM of our $25MM raise goal.
Starting January 1, 2025, you can no longer invest at $62,000/share, whether a current or new investor. Instead, you will invest at a minimum of $72,000/share or the value of the share at the time you choose to invest.
If you want to invest or add to your current investment, you can click the button below to schedule a call. You have until December 31, 2024, at 11:59 pm to wire your investment.
Co-GP With Us
Interested in participating in the realized returns from Haselton? You still have time. You can invest indirectly through the Arabella Real Estate Fund – 506 C.