Past Offerings
Kathy Fettke has been a syndicator since 2010.
Below are examples of past offerings.
Riverscape LLC – Portland, OR
We partnered with a 30 year veteran developer to purchase 27 waterfront town homes that sat incomplete when the bank failed in 2009. We were able to purchase the property for $3M (worth over $20M). We finished construction and sold the condos to retail buyers. Investors earned over 20% IRR.
Dublin Challenge LLC- Dublin, CA
During the Dublin Crossings residential land entitlement project, we ran into a problem. One of the tenants in the office building we planned to tear down decided not to leave, and they had a 10 year lease. Our developer partner came up with a solution – he rezoned some of the slated residential lots back to commercial use, and we built a brand new headquarters for the tenant – Challenge Dairy. Investors earned a 20% IRR.
Dublin Crossings LLC – Dublin, CA
We contracted the purchase of an office building in the city of Dublin, California for $10M with a 1.2M option deposit. We then re-entitled the land for residential use, tore down the existing office building and finished out residential lots. We expected to sell the lots for $14M, but Pulte Homes paid $20M, and our investors made over 30% IRR.
Real Income Properties Texas I LLC – Northern Texas
Grow Developments is teaming up with NTX RES to acquire discounted properties in high growth parts of North Texas. Our business plan is to renovate the properties with luxury finishes, and lease them to the many high-income professionals moving to the area.
PEI-Cannon Ranch LLC – Pasco County, FL
We acquired a 10% interest in an entity that acquired bank-owned land with 4200 residential lots for $16M in 2013. This same land had been in escrow for $160M in 2006. The project has been renamed the Mirada, with the golf course redesigned as a Crystal Lagoon feature. The business plan is to sell bulk lots to builders. The project was significantly delayed and has taken longer than anticipated because of the overall size of the project, Covid, increase in construction cost, and high interest rates. However as of 2024 the project is back on track and is seeing tremendous…
Bates Stringer Martin Hills Ranch LLC – Danville, CA
Our entity, Bates Stringer-Martin Hills Ranch LLC, plans to purchase approximately 102 acres of raw land located on the east side of Danville, California. Our plans are to entitle, develop, and map the property for an estimated 19 lots, and then sell the lots off to one or more home builders in the market. Our investors have a 15% preferred return as well as a share of additional profits.