Open to all investors
PROFIT WITH THE DEVELOPER
$25,000 minimum investment
Promontory at Upper Mission is 4.5 acres of prime view land located in an exclusive neighbourhood on the highest residential point in the Kelowna area, offering sweeping views across the valley and lake.
Built with the same features as Promontory Kelowna (Knox Mountain), Upper Mission will have affordable price-points, solar panel energy, family-friendly spaces and spectacular views in a prime Okanagan location.
The developer has acquired the property for $2.2 million and it will be developed maximizing land use as the only multi-unit residential property in the area. The project will be 78+ single-family townhomes built in 9-12 phases.
Investors can receive an annualized targeted 15% preferred return on equity upon completion and sale of the real estate.
A two-stage equity development partnership opportunity.
TRANCHE ONE¹: $4 MILLION
Purchased Land ($2.2M): 4.5 acres of prime lake and city view land zoned for 78 units. Development permits within 6 months, maximize land use, increase density. Land purchase price = $37 psf buildable.
TRANCHE TWO¹: $4 MILLION Completion within 24 months after completion of Tranche one
Build and Sell: A minimum of 78 townhomes² at an affordable price within a luxury market
*LIMITED PARTNERS’ RETURN ON INVESTMENT (ROI):
Investors receive a targeted 15% annual preferred return to be paid upon
completion of the construction and sale of the real estate. Project is expected
to be completed within 30 months.
The General Partner’s profits will not be realized until Limited Partnership Investors have received back their investment and preferred return.
For more information, speak to a representative of Evest Funds’ private equity broker, Waverley Corporate Financial Services.
For Promontory at Upper Mission
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