Platinum Ranch is an estimated 1200-1300 units of Garden Style Multi -Family dwelling units permitted in mixed use district areas. It has greater than 16 units per Acre and less than 50 units per acre in mixed use district areas. The concept plan of the project is to be revised and submitted for approval upon closing. Some of the acreage in flood plain may be reclaimed and study is pending. Platinum Ranch is located at 1.3 miles north of Legacy Hills development which recently broke ground. The city of Celina has approved 4,100 multi-family units.
The prestigious property is located in the city of Gunter, with a frontage on proposed Tollway. It has approved PD/zoning for Urban, Multi-Family and commercial development. The property provides a tax benefit as well. Each full share will be approximately 200k. It is estimated up to 50%-55% cash per share ti cover down pay and monthly payments up to 2 years. Mortgage payments are collected per LP agreement. It is possible to join LP with your own LLC. Also, two or more people can come through LLC and be part of the LP.
A Limited Partner is a shareholder un the investment. They are responsible for their equity payments, debt service payments and timely signatures on the shareholder agreements. A General Partner is responsible for the overall sourcing, financing, negotiations, legal structure and process, administration, strategy, development, selling and distribution of the profits. Closing is expected to happen during mid October, remaining funds for closing needs to be deposited before September 30th, this year.
The first opportunity will be given to existing investors due to financial hardship if any investor wants to exit. Terms of exit will be addressed in LP agreement. Twenty percent management fee is collected only on the profits from sale proceeds. Site plan will be submitted to city of Gunter upon closing, to acquire current approved entitlements on the property. Estimated expenses related are collected in advance and will be held in LP company account.
The property tenure is estimated to be 5 years. According to the present market analysis it is expected 100% returns within the project tenure. Any part of the property may be sold to relieve the financial burden of yearly debt service to LPs. The candidates who are interested to purchase the project, can contact the project head Sudheer Bagham through his mail id, Bagham@outlook.com, Raj Veeramachaneni, at his mail id Rajkiran.v@gmail.com and others like Ravi Kollipara, Srinivas Chand Gorrepati and others.