We are excited to report we have closed the sale of 19Rail for $28.6 million. Based on preliminary projections, investors are estimated to receive a 2.3x equity multiple and 103.5% IRR, which far exceeds our pro forma returns.
Member Return Analysis
Based on our preliminary post-close analysis, this is how the investment performed compared to our initial underwriting.
| Pro Forma | Actual | |
| Sale Price (Gross) | $24,855,468 | $28,600,000 |
| Holding Period | 48 months | 15 months |
| Contribution | ($5,135,880) | ($4,611,377) |
| Profit | $3,312,809 | $6,078,137 |
| IRR | 15.7% | 103.5% |
| Equity Multiple | 1.7x | 2.3x |
The Future
In the last several months, the real estate and capital markets have experienced adjustments, which influenced our timing on the disposition. Based on diligence and discussions, we are now focusing on quality assets that will generate stable cashflow and maintain value — a prudent strategy given the current and near-term real estate environment.