Providence Investments

Canvas Apartments

152 Units Multifamily Investment Opportunity

in Ocean Springs, MS

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35.63%

5 Year Targeted IRR

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$4.7 MILLION

Total Equity

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18.52%

5 Year Average COC

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New Construction

Opportunity

Investment Highlights

Located within high barrier to entry location in the most desirable submarket along the Mississippi Gulf Coast

Ocean Springs leads the way when it comes to Median household income along the Mississippi Gulf Coast.

The asset is brand new and features a top-of-market physical plant. The asset is being acquired well-below replacement costs which continue to soar nationally.

Opportunity to increase rents on second generation leases

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Projected Returns

There is limited to no new multifamily development in the pipeline outside of Canvas Apartments. Ocean Springs is a community which limits multifamily development. The lack of future supply along with continued population growth will enhance rent growth over the long term.

Thriving Market

Ocean Springs, MS.

Holding Period

5 Years

5 Year Targeted IRR

35.63%

Equity

$4.7 Million

5 Year Average COC

18.52%

Units

152

Purchase Price

$19,760,000

New Construction

Built in 2022

Stabilized

Class Type A

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Ocean Springs Overview

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Ocean Springs, Mississippi, lies at the heart of the beautiful Mississippi Gulf Coast on the eastern shore of Biloxi Bay. It’s known as the City of Discovery in recognition of the French establishment of a settlement here in 1699. Long before the French arrived, however, the area was appreciated for its beauty and natural resources by Native Americans. The attributes that brought these early residents have attracted a diverse stream of people during the past 300 years. Ocean Springs has been flavored by many influences during its rich history, and now in the 21st century, it has a unique character that makes us happy to call it home.
Nestled along the warm waters of the Gulf of Mexico, the City of Ocean Springs is a vibrant and eclectic arts community. It is home to numerous galleries, artist studios, and over 100 restaurants, and recently opened its first micro-brewery. With relatively affordable housing (the median home value is just over $204,000), schools that are among the best in the State of Mississippi, premier healthcare facilities, and unique beauty found all over town, it is easy to understand why 17,000 people are proud to call Ocean Springs home!
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★ offering For Accredited Investors Only ★

With a growing footprint across the Southeast, we focus on a 5-10 mile range from large employment centers and school systems, within the path of progress.
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Our Strategy

Markets

Providence Investments invests in markets with a balanced population growth, high tenant demand, key demographics, strong leadership and employment growth, which has proven to be the winning formula in our investment strategy.

Locations

We focus on primary and secondary markets in Southeastern states, including Alabama, Georgia, Florida, North Carolina and in a few northern and midwestern states with barriers to entry. These principles have allowed Providence Investments and its partners to flourish and outperform the toughest economic market in history.

Value Add Potential

Through the acquisition of properties within locations of strong economic drivers, we add value by acquiring multifamily investment opportunities in prime and growing areas well below replacement cost, improving management efforts, and controlling operations to maximize value and returns.

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Disclaimer:
This material does not constitute and should not be construed as an Offering of advisory services or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction in which such offer or solicitation, purchase or sale would be unlawful under the securities, insurance or other laws of such jurisdiction. Responses to any inquiry which may involve rendering of personalized investment advice for compensation or effecting or attempting to effect transactions in securities will not be made absent compliance with state broker dealer, investment advisor or applicable agent or representative registration requirements, or applicable exemptions or exclusions therefrom. The term “Providence Investments” used herein refers to Providence Investments, LLC, an Alabama limited liability company, and its affiliates.
A potential investor considering an investment in this project through a vehicle sponsored by Providence Investments (the “Fund”) should read this brochure in conjunction with the Fund’s confidential private placement memorandum (the “PPM”). The PPM contains a more complete description of the Fund’s investment practices, restrictions, risks and other factors relevant to a decision to invest. All information herein is subject to and is qualified in its entirety by the PPM. Terms used but not defined herein shall have the meanings set forth in the PPM. Any potential investor should direct all inquiries regarding the Fund to a client service representative of Providence Investments or such other placement agent.
All of the information contained on this Website is provided in good faith, however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, completeness of any information on the Website.