Completed Project
ACQUISITION PHASE
- Formed 60th West LLC
- Organized 18 private equity investors
- Capitalized LLC with self-directed IRA funds totaling $1,817, 316
- Purchased four 20-acre parcels of residential land in L.A. County
- Purchase price was $22,716 per acre
ENTITLEMENT/ VALUE-ADDED PHASE
- Completed assemblage, created one 80-acre parcel
- Obtained re-zoning, from one to four homes per acre
- Obtained tentative map approval to build 325 single-family homes
LIQUIDATION PHASE
- Facilitated sale to home builder
- Net sales price is $55,000 per acre, for a total of $4.400,000
- Profit was $2,012, 653
- Time-to-complete was 2.6 years
- Average annual return to investors was 33.6%