Our team recently launched a promissory note offering called our “PIC Mariner Grove Promissory Note” offering (PIC stands for Passive Investor Club). This exciting new investment opportunity is focused on providing a low risk, high yield investment note for a multifamily asset located in Savannah, GA. Mariner Grove apartments is a 320-unit multifamily asset that has strong historical occupancy with nearly 100% in collections.
Let’s explore this promissory note offering in detail including how this investment is considered a low-risk investment.
Property Profile
Mariner Grove is a 320-unit luxury apartment community located in Savannah, GA. The property is strategically located near Downtown Savannah, Eastern Wharf, Port of Savannah, Tybee Island, and Savannah Proper, providing convenient access to major economic drivers as well as top entertainment spots.
Savannah’s exceptional job growth, growing industrial sectors, and continued population growth support Mariner Grove as a premier asset with boundless upside.
Mariner Grove is a Class A asset built in 2016 with each unit at the property being thoughtfully elegant with sophisticated interiors attracting an affluent resident profile. The contemporary interiors are complete with luxury finishes and oversize floorplans giving the property a competitive advantage in the Savannah market.
What is a Promissory Note?
A promissory note is a formal agreement similar to a written IOU. It outlines an obligation by one party to repay another, specifying the amount, repayment terms, interest rate, and other relevant details. This document helps provide clarity and structure for all parties involved.
How is this a low-risk investment?
This Mariner Grove promissory note is backed by the underlying real estate. When the asset is sold, or a refinance occurs, the primary lender would be paid first. Then the promissory note holders would get their initial capital plus any accrued return prior to any of the limited partners (LPs) receiving any of their initial capital plus accrued return. This means that the LPs that have invested $37mil+ in equity in the asset would not get paid until you are paid your return plus all of your initial capital being returned. This promissory note sits in a preferential position in the overall capital stack.
No-brainer option
The PIC Mariner Grove Promissory Note offering is one of those no-brainer investment choices due to the quality of the asset, outstanding operational record, being real estate backed, and the preferential position in the capital stack in front of the equity LP investors.
Take time now to review the investor offering memorandum in further detail and then reach out to one of our Investor Relations Team members so they can answer any questions you may have.
This investment opportunity will be closing soon as it fills up. Take action now.
