Property Details
Asset Profile
Opportunistic

Fedora Apartments

Los Angeles, CA

Multi-Family Property
CGI Strategies Woodland Hills, CA
CGI Strategies
  • IRR 15%
  • Equity Multiple 2.04x
  • Hold Period 3-7Y
  • Minimum Investment $25K
  • Year 1 Cash on Cash N/R
  • Stabilized Cash on Cash 9.2% in Y3
  • First Distribution May 2022
  • Distribution Frequency Quarterly
  • Co-Investment 12%
  • Preferred Return 10%
  • Investor Profit Share See Financials
  • Asset Profile Opportunistic
  • Loan-to-Value 79%
  • Current Occupancy 0%

About this Property

Why This Property?

GREGORY KHODARA, CGI STRATEGIES: "First, I would want to live there as there are amazing restaurants, nightlife and amenities. Second: The property is located in one of the best submarkets in one of the best cities in the country. Units under construction are 3% of current inventory and don't represent a risk of over supply compared to markets like Boston and Miami at >10%. Koreatown is centrally located and has great access to major job centers."



Why Do You Like This Strategy?

GREGORY KHODARA, CGI STRATEGIES: "The affordable luxury segment we build and invest in has proven to be extremely economically resilient and caters to the growing millennial demographic in Los Angeles. We design projects for active renters in mind. Each project must realize the risk-adjusted return-on-investment that we, and our investors, demand. We take our time in due diligence and integrate ourselves within a local community to fully understand its culture and what it missing. We craft a solution to bring something unique to the community and establish the community as a vital and necessary cornerstone."



How Are You Mitigating Risks?

GREGORY KHODARA, CGI STRATEGIES: "Risk mitigation sits at the centre of every deal we do. We assume there will be a recession during every hold period and make sure the asset can comfortably traverse it. We look for markets that are not volatile with strong supply demand fundamentals. Occupancy was 96% in Koreatown in 2011 at the trough and currently is 96.5%. We build assets in the affordable luxury category where people can comfortably downgrade to if the economy hits a rough patch."

About this Property

Why This Property?

GREGORY KHODARA, CGI STRATEGIES: "First, I would want to live there as there are amazing restaurants, nightlife and amenities. Second: The property is located in one of the best submarkets in one of the best cities in the country. Units under construction are 3% of current inventory and don't represent a risk of over supply compared to markets like Boston and Miami at >10%. Koreatown is centrally located and has great access to major job centers."



Why Do You Like This Strategy?

GREGORY KHODARA, CGI STRATEGIES: "The affordable luxury segment we build and invest in has proven to be extremely economically resilient and caters to the growing millennial demographic in Los Angeles. We design projects for active renters in mind. Each project must realize the risk-adjusted return-on-investment that we, and our investors, demand. We take our time in due diligence and integrate ourselves within a local community to fully understand its culture and what it missing. We craft a solution to bring something unique to the community and establish the community as a vital and necessary cornerstone."



How Are You Mitigating Risks?

GREGORY KHODARA, CGI STRATEGIES: "Risk mitigation sits at the centre of every deal we do. We assume there will be a recession during every hold period and make sure the asset can comfortably traverse it. We look for markets that are not volatile with strong supply demand fundamentals. Occupancy was 96% in Koreatown in 2011 at the trough and currently is 96.5%. We build assets in the affordable luxury category where people can comfortably downgrade to if the economy hits a rough patch."

Offered By

CGI Strategies

CGI Strategies

Woodland Hills, CA

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Assets Under
Management

Currently
$991.43MM 20+ assets
Exited
$92.62MM less than 10 assets
Portfolio LTV
70%  
Historical
Realized Returns

Total IRR
37.3%  
Equity Multiple
2.53x  
Annual Cash
N/R  
Years Of
Experience

As Principals
30+ years  
In Business
6 years  
Size
33 Staff * Dedicated investor relations
* All information is reported by CGI Strategies as of 9/27/2019.
Assets Under
Management

Currently
$991.43MM 20+ assets
Exited
$92.62MM less than 10 assets
Portfolio LTV
70%  
Historical
Returns

Total IRR
37.3%  
Equity Multiple
2.53x  
Annual Cash
N/R  
Years Of
Experience

As Principals
30+ years  
In Business
6 years  
Size
33 Staff * Dedicated investor relations
* All information is reported by CGI Strategies as of 9/27/2019.

Financials

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Offering Financial

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Location Details

Los Angeles, CA

Situated between West 8th Street and James M Wood Boulevard, the Fedora project is just south of Wilshire Boulevard. The property is in the middle of more than two dozen popular nightlife spots and authentic international restaurants that have made Koreatown an LA destination like no other. The Fedora project is ideally positioned to capitalize on Koreatown’s resurrection as one of the premier submarkets in all of Los Angeles. The subject property is located within 5 miles of nearly 225 million square feet of office space and prominent employers across a wide variety of industries.

Documents

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Offering Agreement Documents

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