Multi-Tenant Retail Development: Roanoke Village Pad 1
Deal Overview
Total Raise
$1M
Minimum Investment
$50K
Hold Period
N/A-N/A Years
LP IRR
20.2%
Return on Equity
1.6x
RVTX Partners, LLC is a joint venture sponsored by three seasoned development firms—Urbana Holdings, MTX Hospitality, and VTP Capital Partners. Investors have the opportunity to participate in the ground-up development of Roanoke Village Pad 1, a multi-tenant retail asset located in the growing market of Roanoke, TX. This project is part of the larger Roanoke Village mixed-use development and seeks $1 million in Limited Partner (LP) equity, which will be complemented by over $830,000 in sponsor equity to fully capitalize the development of Pad 1. With 37% of the leasable area pre-committed to D1 Training and strong tenant demand in the area, this investment offers a compelling risk-adjusted return profile, projecting:
- +20% XIRR over a three-year hold period
- 1.6x Equity Multiple
Roanoke Village Pad 1 represents an attractive opportunity to invest alongside experienced sponsors in a high-growth market with strong fundamentals.
Investment Highlights
- High-Growth Submarket: Located in Roanoke, TX, within the rapidly expanding Dallas-Fort Worth Metroplex.
- Strategic Location: Part of Roanoke Village, positioned between Westlake and AllianceTexas, near major corporate and leisure demand generators.
- Pre-Leased Anchor Tenant: 37% pre-leased to D1 Training, a national fitness brand, providing immediate income upon completion.
- Strong Return Potential: Projected +20% XIRR and 1.6x Equity Multiple over a 3-year hold period.
- Experienced Development Team: Developed by Urbana Holdings, MTX Hospitality, and VTP Capital Partners with over 50 years of collective experience.
- Attractive Financing: We close the loan with UMB Bank on September 30th
- Value-Add Opportunity: Potential for refinancing and sale to 1031 exchange buyers upon stabilization.
Property Details
- Property Type: Multi-Tenant Retail Pad (Pad 1 of Roanoke Village)
- Location: Roanoke Village, Roanoke, TX (730 State Hwy 377, Roanoke, TX 76262)
- Building RSF: 11,387 SF
- Pre-Leasing: 37% pre-leased to D1 Training
- Tenancy: Five units planned, including an end-cap unit with drive-thru capability
- Anchor Tenant: D1 Training (elite athlete fitness center)
- Marketing Focus: Targeting retail tenants like Verizon Wireless or small healthcare offices.
- Larger Development: Part of Roanoke Village, a mixed-use hospitality, retail, and medical office center.
Market Analysis
Roanoke, TX, benefits from strong market dynamics within the Dallas-Fort Worth Metroplex:
- DFW Growth: Dallas-Fort Worth is experiencing significant population and economic growth, driving demand in neighboring submarkets like Roanoke.
- Strategic Location: Roanoke Village is strategically positioned between Westlake and AllianceTexas, major employment and residential hubs.
- Pro-Business Environment: Texas and Roanoke offer a favorable investment climate with a pro-business government.
- Strong Retail Demand: North Texas leading the nation in retail development and tenant demand, with low availability rates and increasing rents.
- Corporate Demand Generators: Proximity to AllianceTexas (480+ companies, 55,000 employees), Circle T Ranch (Charles Schwab HQ), and Highway 114 business corridor (major corporations).
- Residential Growth: Migration of residents from Dallas-Fort Worth to northern counties boosting local economy.
Financial Projections
Key Financial Metrics:
- LP Equity Request: $1,000,000
- Total Project Capitalization (Pad 1): $4,537,815
- Projected Equity IRR: 20.2%
- Projected Equity Multiple: 1.6x
- Average ROI: 53.4% over 3-year hold
- Preferred Return: 8.0% annually to Equity Investors
- Targeted Exit Cap Rate: 6.5%
- Projected Sale Price: $500/SF
Sources and Uses of Funds (Pad 1):
| Sources | Amount | % |
|---|---|---|
| Sponsor Equity | $837,815 | 46% |
| Investor Equity | $1,000,000 | 54% |
| Senior Construction Loan | $2,700,000 | 60% |
| Total Sources | $4,537,815 | 100.0% |
| Uses | Amount | % |
|---|---|---|
| Purchase Price (Land Contribution) | $1,652,746 | 36.4% |
| Construction Costs | $1,544,126 | 34.0% |
| Initial Leasing Costs (TI/LC) | $784,598 | 17.3% |
| Other Costs & Reserves | $556,345 | 12.3% |
| Total Uses | $4,537,815 | 100.0% |
Location Highlights
Roanoke Village Pad 1 benefits from a prime location within Roanoke Town Center, offering:
- Roanoke Town Center: Heart of Roanoke, TX, with walkability to downtown restaurants, shops, and entertainment.
- Proximity to Major Developments: Near AllianceTexas (26,000 acres, 480+ companies), Circle T Ranch (Charles Schwab HQ), and Highway 114 business corridor.
- Corporate Demand: Located in the growth path of the Westlake/Southlake financial services quadrant, attracting businesses and employees.
- Accessibility: Situated on Highway 377, with easy access to Northwest Parkway 114, Alliance Gateway Freeway 170, and I-35W.
- High Traffic Location: Excellent visibility and accessibility on a major thoroughfare.
- Growing Residential Area: Surrounded by expanding residential communities in Roanoke and neighboring cities.
Project Timeline
- Land Acquisition: Completed July 2022 (for Roanoke Village site)
- Pre-Leasing: Ongoing, 37% pre-leased to D1 Training
- Construction Financing: Secured from UMB Bank on September 30th
- Construction Start: October 2025
- Stabilization: Anticipated within 18 months of construction completion
- Hold Period: 3 Years
Why Invest?
Investing in Roanoke Village Pad 1 offers compelling advantages:
- Attractive Returns: Projected 20% XIRR and 1.6x equity multiple provide strong returns.
- Experienced Sponsorship: Urbana Holdings, MTX Hospitality, and VTP Capital Partners bring a strong track record.
- Strategic Asset Class: Retail sector benefiting from a return to brick-and-mortar and strong tenant demand in North Texas.
- Favorable Entry Basis: Sponsor's attractive land basis and pre-development work reduce risk.
- Recession-Resistant Market: Dallas-Fort Worth MSA and Roanoke submarket demonstrate resilience and growth potential.
- Value Creation Opportunity: Ground-up development allows for value creation through lease-up and strategic exit.
- Alignment of Interests: Significant Sponsor co-investment aligns interests with LP investors.
Invest in Multi-Tenant Retail Development: Roanoke Village Pad 1
Total raise
$1M
Min Investment
$50K
Hold time
On Request
LP IRR
20.2%
Return on equity
1.6x
↓ More details available to qualified investors ↓
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