Asset Overview

  • 154 Unit Student Housing

  • Provo, Utah

  • Value Add

Asset Details

CalTier Fund 1 invested in Raintree in May 2021 with our experienced real estate partner, Redstone Residential.

The property is currently 100% occupied with 12.3% pre-leased for the 2023-2024 school year. This is right in line with the market average.

Renovations are continuing to move forward as planned. Currently, a total of 70 apartments have completed renovations with an additional 8 held vacant to finish renovations and the remaining apartments scheduled to cycle through.

Renovations of the common areas were completed before the start of the 2022-2023 academic year, including the new clubhouse and office area, which provides Raintree with a more modern look and feel. The old office was converted into a fully renovated fitness center, which is a high-demand amenity that the property has sorely lacked.

Raintree is currently renting about 3% above original pro forma projections and has produced a 7.64% return on the initial investment amount.

We are expecting continued growth as the property improvements increase rental demand.

View Our Other Investments

“Everyone should have access to the best commercial real estate investments. Not just the 1%.”

CalTier CEO & Founder
Matt Belcher

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