This investment summary is provided for informational purposes only and does not constitute an offer or solicitation to acquire interests in the investment or any related or associated company. Any such offer or solicitation may be made only by means of the confidential Private Placement Memorandum (“Memorandum”) and in accordance with the terms of all applicable securities and other laws. All information contained herein is subject to and qualified by the contents of the Memorandum. As more fully described therein, participation in any securities offering is limited to Accredited / Qualified Investors. Please contact Bond Way Capital 915, LLC, wholly owned and managed by NRIA Bond Way Capital Manager, LLC, both subsidiaries of NRIA (“Sponsor”), to inquire about obtaining a copy of the Memorandum.
NRIA (“Sponsor”) is pleased to offer qualified investors the opportunity to participate in the development of a 2-unit, luxury townhome project (“Palm Trail Townhomes I”), situated on a 0.28-acre site located at 915 Bond Way (address to change to Palm Trail), within the prestigious Palm Trail District of Delray Beach, FL, just north of George Bush Blvd, and 1.25-miles from E Atlantic Avenue, Delray’s main commercial corridor which continues to see significant growth.
Final building permits are expected to be completed over the near term; however, NRIA anticipates closing on the land prior to final approval. Project duration is estimated to be ≈18-months from initial close through the sale of the townhomes.
Two (2) luxury townhome units, each consisting of ≈4,000sf, 4-bed / 4 ½ baths, with an elevator from the two car garage, an office/den, a plunge pool, and a club room on the top floor with massive outdoor terrace space. We are currently projecting outsale prices under $540psf, which will prove to be conservative when looking at the most relevant comparable sales in an area that continues to undergo massive transformation.
Millions invested in public & private development over the past decade, with significant ongoing development occurring directly around the subject site. Luxury Single-Family / Townhome buyers in Delray are drawn to homes with water access, but also proximity to revitalized downtown areas with the trendy restaurants and shopping. While vacation homes make up some of this luxury market, there is also an increasingly number of affluent buyers who live in Delray year-around as a primary residence.