C-Star SFR Fund I Distributed 7% Dividend in 4Q2019 and has Realized Portfolio Stabilization
C-Star SFR Fund I Distributed a 7% Dividend in 4Q2019 and has Realized Portfolio Stabilization.
January 16, 2020, New York: C-Star SFR Fund I reported its fourth quarter 2019 results today. Sherry Li, Founder, and Chief Executive Officer, said, “In the fourth quarter C-Star again generated strong results for investors. Our ability to analyze markets, source target properties, execute investment strategies, and manage properties is highly differentiated, as demonstrated by $36,602.35 of distributions in this quarter and $131,130.15 over the last six consecutive quarters. Our investors continue to entrust us with capital for our strategy, including 40% capital raising in Fund II within three months. C-Star SFR Fund II will kick off acquisitions in January and acquire 300 single-family rental properties in Atlanta and Charlotte within the next two years.”
Dividend
C-Star SFR Fund I has distributed a quarterly dividend of $0.7 per unit.
About C-Star SFR Fund I
C-Star closed and fully deployed Fund I in June 2019 and aggregated a $5.7 million portfolio. It contains 36 assets located in 9 counties of Atlanta MSA.
As of the fourth quarter of 2019, C-Star SFR Fund I has achieved a portfolio of 100% leased rate, 7.8% capitalization rate, 8.0% first-year Cash-On Cash, and 24.2% projected 3-year IRR.
About C-STAR
C-STAR is a real estate investment management firm primarily in the Single Family Rental sector. It was founded in February 2018 and is headquartered in New York.
C-STAR successfully closed and fully deployed Fund I in June 2019 and aggregated a $5.7 million portfolio. It contains 36 assets located in 9 counties of Atlanta MSA.
In July 2019, C-Star launched Fund II, which targets raising $20 million USD of equity for investments in Atlanta and Triangle Charlotte MSA. C-Star SFR Fund II has made meaningful progress on fundraising, acquisition, financing, and asset management ever since its inception in October 2019. By the end of March, SFR Fund II had raised $7.12 million in equity and had closed eight acquisitions of single-family homes in the Atlanta metro area. 7 of 8 homes have been leased quickly after closing with an average lease-up period of 8 days. The average time between the renovation completion and the tenant's move-in date is 20 days.
Investment Strategy of Fund II:
Key Terms of Fund II:
Minimum Capital Commitment: $100,000
Investment Term: 3 years +1 year +1 year
Distribution: Initially, 5% – 6% increase annually, distributed quarterly
Target IRR: 18% – 20% gross
Acquisition Fee: 2% of Purchase Price
Asset Management Fee: 25bps on AUM annually
Note: C-STAR SFR Fund II has filed with the United States Securities and Exchange Commission (“SEC”) under Regulation D 506(c). www.sec.gov.