DEAL TIME! Equity Investment on RealtyMogul

Sponsor: Rilea Group

Listen To or Watch the Rilea Group's Equity Investment in the Mohawk at Wynwood Here


Sponsor: Rilea Group

Deal name: Mohawk at Wynwood

Asset Class: Class A, ground-up residential & mixed use

Investment type: Equity 

Total estimated project cost: $103.4 million

Total equity required:  $41.4 million

Opportunity close date: June 2, 2021

Deal details:

  • 211,477 leasable sf
  • 225 residential units
  • 12 story building

Projected IRR: 20.26

Projected Equity Multiple: 2.43x 

Projected stabilized cash-on-cash: 9.89%

Target hold period: 5 years

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More information about this deal:

  • Mohawk at Wynwood is a new, forward-thinking community being crowdfunded to transform 1.5 acres in Wynwood, Miami into a 225-unit, 12-story, luxury multi-family building containing 220,750 sf of leasable square feet with 22,000 sf of prime ground floor retail.

  • The project will bring a stylish, modern community to an area that already leads the nation in artisanry - and the mechanism being used to finance this development is equally innovative: crowdfunding.

  • $10 million of the project's $100 million price-tag is being raised, beginning this week, via RealtyMogul, one of the top real estate crowdfunding platforms with a community of over 200,000 investors across a $2.8 billion portfolio that includes over 15,000 multifamily units.

  • The developer is Rilea Group, with a 40-year track record of successful developments in South Florida.

  • Mohawk will provide not just residences, but a turn-key lifestyle, built-in social scene, art, yoga, activities, food and culture to those who live there.

  • Located at the crossroads of Miami’s trendy and bourgeoning Wynwood and Midtown neighborhoods, Mohawk is bringing much-needed units to an area where housing demand far exceeds supply.