The Tristar Way

The TriStar team knows Baltimore real estate–street by street and block by block. We specialize in acquiring underperforming real estate assets and turning them into viable cash-flowing projects.

We call that the TriStar Way—our own special brand of realizing the ultimate potential of building wealth with real estate for our investors and ourselves. TriStar works with lenders and those in our close circle of family, friends, and business associates to fund the acquisition and renovation of the properties in our portfolio shown below.

This is not a public offering.  Information on this website is provided for the sole purpose of updating current TriStar member partners on the project status of assets jointly owned.  TriStar investment opportunities are open to accredited investors in our immediate circle only.  

Projects and Assets

 

Holly Lane Apartments

Acquired: August 2020
Acquisition & Renovations: $14.9M
Stabilized Value: $16.8M
Class B Preferred Return: 10% Annualized
Class B Target Return: 14% Annualized
Class C Paid Annually: 5%
Class C Target Return: 10%
Capital Stack: Private Equity & Debt

  • Equity Status 90%

Holly Lane Apartments is a 170-unit apartment asset that was rehabbed using Low Income Housing Tax Credits (LIHTC) in June 2007 offering 1 and 2 bedroom apartments. The property is currently in year 13 of its Tax Compliance/Recapture period, allowing for the LIHTC Refinance to occur in 2022.

The property is located in the Frankford neighborhood of Baltimore’s northeast region. It’s a quiet community, surrounded by wooded areas. All of the apartments have been fully renovated including brand new kitchens with new cabinets, appliances, doors, windows, and new heating and A/C systems.

Note to our member partners: Tristar is currently raising equity for this project. Please see the “Equity Status” indicator above.

 

Mulberry Court Apartments

Acquired: August 2015
Acquisition & Renovations: $4.2M
Stabilized Value: $6.9M
Investor Preferred Return: 8% Annualized
Investor Target Return: 13% Annualized
Capital Stack: Private Equity & Debt

  • Equity Status 100%

Mulberry Court is a 62 unit affordable housing community in Baltimore, Maryland. The property was built in 1994 in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program providing apartments for low-income households. In addition to its residential units, Mulberry Court features 6 ground-floor retail spaces and 17 garage spaces.  Since TriStar’s acquisition in 2014, occupancy and tenant retention have dramatically improved and thanks to TriStar’s maintenance protocol and security measures, the property is safe, well-cared for, stabilized, and thriving.  The building is owned and managed by TriStar.  The current occupancy is 98%.

Note to our member partners: Tristar is currently undergoing a refinance loan for this asset to reduce the cost of debt service.