The TriStar Way

The TriStar team knows Baltimore real estate–street by street and block by block. We specialize in acquiring under-performing 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 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 investors on project status.  TriStar investment opportunities are open to accredited investors in our immediate circle only.  

Projects & 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 25% 25%

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.

 

Mayflower Apartments

Acquired: August 2018
Acquisition & Renovations:
$4.6m
 Stabilized Value: $7.2m
Investor Preferred Return: 10% Annualized
Investor Target Return: 14%+ Annualized
Capital Stack: Equity & Debt
  • Equity Status 100% 100%
– Currently Cash-Flowing @ 98% Occupancy Rate

– 65 Units/ 3 Stories

– Garden Style Apartments with recent renovations

– Nearby Public Transportation

– BWI Airport within a 30-minute drive

– Near Johns Hopkins and Morgan State University

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% 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 has 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.  Current occupancy is 98%.

Charm City Suites

Acquired: 2014 to 2017
Acquisition & Renovations:
$5m
 Stabilized Value: $12.75m
Investor Preferred Return: 10% Annualized
Investor Target Return: 15%+ Annualized
Capital Stack: Equity & Debt
  • Equity Status 100% 100%

Eleven-row homes in Baltimore’s most desirable neighborhoods. These properties have been in our rental program since acquisition. We are currently liquidating our residential portfolio to focus on growing our multi-family division.