Texas South Central · Proposed / screening only
Tegra Austin Regional Corridor Flexible Living Fund I
Growth, manufacturing; price discipline
24
Target properties
1,440
Planning units
$72M
All-in capital
$50.4M
Senior debt · 70%
$21.6M
Preferred equity · 30%
Strategic allocation only. No individual properties, committed financing, launch date or verified demographic study are supplied for this fund.
Austin Regional Corridor
Growth, manufacturing; price discipline. Validate local demand, property availability, asking prices, household income, competition, zoning and property-level NOI before allocating capital.
Smaller 2–5-property operating clusters; grouping and shared staffing remain subject to travel-time validation. Kiteville is the initial, non-exclusive operating partner.
Illustrative economics
- All-in property budget
- $3M planning average
- Rooms per property
- 60 planning average
- Preferred annual target
- 12% cumulative, not guaranteed
- Annual management fee
- 1.5% illustrative; basis to be defined
- Hold period
- 3–5 years illustrative; no guaranteed liquidity
Financing is subject to lender underwriting, cash flow, reserves and sponsor-equity requirements. Fees can reduce investor returns; do not infer net yield by subtracting rates with different bases. Governing documents control; capital is at risk.
Acquisition screening
- Asset profile
- Underperforming motel or limited-service hotel; generally 40–120 rooms, one or two stories; exterior corridors preferred.
- Acquisition basis
- Below $35,000 per room before renovation; approximately $3M all-in per property is a planning average.
- Local catchment
- Approximately 25,000–150,000 population in the trade area, not the full metropolitan population.
- Demand anchors
- Healthcare, logistics, manufacturing, education, military, government, workforce and extended stays.
- Condition & conversion
- Structurally sound assets with functional utilities, roof and HVAC. Validate zoning, fire/life safety, ADA, parking, kitchens and tenancy rules.
- Operating clusters
- Smaller 2–5-property clusters, subject to travel-time, shared staffing and local operating feasibility.