We have successfully acquired the final asset in the CRE 2023 Fund! The asset is a Dollar General in Clarendon, TX, roughly 60 miles southeast of Amarillo. Thankfully, this property was not directly impacted by the recent wildfires in the Texas Panhandle. This asset was purchased for $570k using 60% leverage. The current lease in place has six years remaining. A few reasons we are excited about acquiring this asset:

  • Its proximity to Amarillo (+15.1% population growth since 2000)
  • Only dollar store/national grocery store in town
  • Clarendon, TX population: 2,000
  • Long operational history
  • Directly off highway 287 – one of the major highways used for traveling from Texas to Colorado and vice versa.

This Dollar General closes the CRE 2023 Fund with a total of nine assets across eight different states. The fund is currently returning at 9.25% cash on cash return to our investors! Once stabilized, the fund will return 7.25% cash on cash.