Offering Summary

PSW Land Holdings, LLC (“the Fund”) objective is to acquire strategic land positions in Austin, Denver and Seattle to fuel the company’s growth while providing LP investors with a stable 12% preferred return and well-defined exit strategy.

To that end, the Fund has raised $6,680,000 to date ($3.15MM from limited partners and $3.53MM from StoryBuilt) and invested in 3 highly desirable urban infill sites with estimated gross revenue in excess of $70,000,000. StoryBuilt’s own investment of $3.53MM in the Fund is a strong testament to the company’s belief in the long-term value of these assets.

Investment Terms

  • Preferred Return – 12% per year
  • Up to 5,000 Class A units at $5,000 per unit
  • Minimum 20 units ($100,000) per investor
  • Preferred Returns paid at the end of the project

Net Cash Flow Distribution

Net Cash flow to be distributed in the following order:

  1. Where proceeds are from a company (e.g. Copeland South, Glenarm, etc.):
    • Preferred return on capital invested in that company; then
    • Return of capital invested in that company; then
    • Same as general cash flow (see below)
  2. For cash flow generally:
    • Accrued but unpaid Preferred return; then
    • Return of capital contributions, until investors are fully repaid;
    • Remaining Net Cash Flow to the Class B Member.

PSW Land Holdings, LLC

AssetsMarketTypePriceAcresRev / ValueVertical Construction
GlenarmDenverCondo$3,750,0000.8$83,400,000Summer 2021
Copeland SouthAustinMixed-Use$8,000,0001.6$69,000,000Fall 2021
StanleySeattleTownhomes / Condos$2,585,0000.4$11,259,000Fall 2020


Glenarm
Copeland South
Stanley

DENVER – Glenarm

Site: 2137 Glenarm Place, Denver, CO 80205


ENTITLEMENT + PERMIT UPDATES

Updated: 11 May 2021 | 1:00pm CST

  • The Denver market has performed well in recent quarters helping unlock value on the site and StoryBuilt’s other local developments. With that, we are actively pursuing purchase of adjacent parcel at 2115 Glenarm to control entire block, which will increase combined land value and provide additional mixed-use opportunities.
  • Recently we reengaged general contractors for updated construction pricing of a 6-story, stick-over-podium building. We launched a local search for our first construction hire in Denver.

StoryBuilt acquired 2137 Glenarm Place, a 0.79-acre urban infill development site east of Downtown Denver. We intend to break ground within 2 years on 80–110 condominiums in a 5-story structure. While current R3 zoning allows both 5-story condo and 3 story townhomes, a rezone to C-RX-5 or C-RX-8 will achieve optimal results. The abutting Historic District provides residential character on 3 sides while being in the urban core. The Registered Neighborhood Organization supports higher, 8-story density. This dynamic location is seeing intense new development, including 12 and 18-story luxury rental projects by TCR and Lennar within 2 blocks.

The Property is highly walkable and conveniently located near light rail at the borders of the Uptown and Arapahoe Square neighborhoods, between the CBD to the west and Five Points to the east.

Estimated Value
$81,120,000 in estimated revenue

Land Cost

  • Land Cost – $3,750,000
  • Land Holdings Position (15.87%) – $595,000

Exit
Expect to begin vertical construction by Summer 2021

 

AUSTIN – Copeland South

Site: 1008 S 1st St. Austin, TX 78704


ENTITLEMENT + PERMIT UPDATES

Updated: 14 May 2021 | 10:00am CST

  • Successfully recapped in March. Principal and preferred return were repaid to Land Holdings investors.
  • We closed on Copeland North land parcel in Q1 ’21 and assemblage is complete.
  • Our focus remains on maximizing the vision of an urban village community with a variety of home types, price points, and commercial amenities.

StoryBuilt acquired a 1.85-acre parcel along S. 1st St that is only ¼ mile from downtown and located adjacent to StoryBuilt’s Frank and Frank West communities. Copeland South, when combined with Frank, Frank West and Copeland North (which is also under contract), takes “complete community” to another level. With all tracts combined, the nearly 200 residential units and approximately 80,000 square feet of commercial and outdoor uses would allow for this development to be a destination site for all Austin residents to enjoy. The ability to control these parcels allows our design team to expand their creativity and generate an unparalleled living experience.

Estimated Value
$40,000,000 in estimated revenue

Land Cost

  • Land Cost – $8,000,000
  • Land Holdings Position (15.13%) – $1,210,000

Exit
Expect to begin vertical construction by Fall 2021

 

SEATTLE – Stanley (formerly Georgetown)

Site: 6600 Carleton Ave South, Seattle, WA 98108


ENTITLEMENT + PERMIT UPDATES

Updated: 14 May 2021 | 10:00am CST

  • The master use permit and building permits are ready for issuance, pending fee payment. The final construction documents are targeting a Q2 ’21 completion date.

StoryBuilt acquired a 16,120-square-foot site in the up and coming South Seattle submarket. The site is in the Georgetown neighborhood of Seattle just 4 miles south of downtown and 3 miles south of the Seahawks and Mariners stadiums. The proximity to downtown Seattle, adjacency to Boeing and limited development opportunities in the area have resulted in increased desirability as an alternative to the higher priced downtown areas. The neighborhood is known for its rich architectural history owing to the various breweries and industrial buildings built in the early 1900s. Many of these spaces have been renewed in recent years creating a thriving food and retail corridor that draws people from all over Seattle. The specific location of this site is tucked into a residential pocket of Georgetown allowing for privacy and comfortability without compromising StoryBuilt. Our market analysis reveals an opportunity to target young professionals and smaller family demographic that are looking for well designed, affordable homes in one of Seattle’s most unique and conveniently located neighborhoods.

Estimated Value
$8,400,000 in estimated revenue

Land Cost

  • Land Cost – $2,585,000
  • Land Holdings Position (38.68%) – $1,000,000

Exit
Expect to begin vertical construction by Fall 2020