Total transaction dollars were:
5.5 million for the Land
73 million for the Apartment Build-out
In 2014, I was working in the Bakkens, (Oil area of North Dakota) helping raise funds for developers and finding deal flow for investors. I was successful finding a 2 million dollar buyer for 40 acres of land, that we co-developed into cabins, called the Grand Bakken Lodge.
I used my contacts in Cleveland, and created a JV with a local developer, and we put together after the purchase of the land, a business plan to build cabins for the Oil Boom workers. We secured long term contracts with Hess Oil, and sold our interest for a 2X profit.
During this time, I developed numerous contacts, which enabled me to be the “GO TO COMPANY” with all the deal flow that in need of investors and financing. I had developed many contacts in NYC that were contacting me to help them find deals in Watford City and WIlliston and DIckinson, ND. I was successful in identifying a large family office, The Feinberg Group, who had strong interest in land purchases and development of apartments in ND.
I spent 8 mos working the Bakkens to find the best location for this land purchase, and the REvision Group brokerd a deal in Watford CIty, for 11 acres at a devopment called the The Crossings of Watford City.CEO David and President Dan Feinberg were very excited about the deal, and closed on the 11 acres and built the first 200 units in 2014-2015.