TIBURON

A 320-unit, 2007-built apartment community in northwest Houston, TX. This is a rare opportunity to acquire a 2007-vintage asset in original condition presenting significant upside through interior and exterior value-add enhancements.

August 20, 2026 at 3pm EST/2pm CT

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AAR: 23.7% / EM: 1.71x (3-year projected hold) / Avg CoC: 5.3% / Yield on Cost: 7.28%
Loan Assumption: 5.82% fixed rate debt with ~4 years remaining
30%+ discount to replacement cost
No new construction in a 5-mile radius
100% classic unit interiors (and the worst exterior paint color you have ever seen)
6-property comp set is achieving $115+ higher rents on average ($1,437 comp avg vs. $1,322 in-place)
2.5 miles from the new Apple/Nvidia AI supercomputer factory in Houston, set to open in 2026, resulting in 3,000+ new jobs

Less than 2.5 miles from the $600M Foxconn AI manufacturing campus at Fairbanks Logistics Park, the production partner for Apple and Nvidia's AI servers and Mac mini manufacturing. Apple is doubling its Houston footprint to 500,000 SF and adding a new Advanced Manufacturing Center, creating ~3,000 high-paying jobs in 2026.
Tiburon sits in a supply-constrained submarket with only 28 units of new multifamily construction within a 5-mile radius.
Tiburon is zoned to Cy-Fair ISD schools, the #2 school district in Harris County and #1 for athletics, making it a desirable location for families.
LSCRE owns and operates over 2,300 units within 10 miles, providing a significant operational advantage.

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Offering Size: $21,000,000
Projected Hold Period: 3 years
Class A Investment ($100k minimum)
- Net AAR: 23.9%
- Average Cash on Cash: 5.0%
- Equity Multiple: 1.72x
Class B Investment ($500k minimum)
- Net AAR: 27.4%
- Average Cash on Cash: 5.0%
- Equity Multiple: 1.82x
Class C Investment ($1M minimum)
- Net AAR: 30.0%
- Average Cash on Cash: 5.0%
- Equity Multiple: 1.90x

This is a 506c offering available only to accredited investors.