JID Fully Funds 29th Investment – City House Charleston

JID Investments LLC (JIDI) is very pleased to announce that we have fully funded our latest investment – City House Charleston.  JIDI, along with our newest Sponsor/Developer partner, Landmark Partners will participate in the new construction of a 4-story, 21-unit luxury residential multifamily condominium for sale (two/three bed and two and a half/three and a half bath) and commercial building for lease (retail, gym, restaurant) in the French Quarter district of Charleston, South Carolina.

Condominium units will range from 1,525 – 4,228 sqft (total unit sqft), including four penthouse units and showcase magnificent views of downtown Charleston. Sale prices range from ~$1.7M – $4.8M. Landmark has presold 13 units (62% of the total number of units). JIDI investors will exit the project upon sale and closeout of the final condominium unit(s). Our projection is to be 100% presold by CofO/delivery in 4th QTR 2024.

JIDI is providing $1.5M of equity as a Limited Partner to the project. JIDI accredited investors were offered 60 units of investment at $25,000 each.  This is JIDI’s 29th project investment since our inception in April 2013. We have invested over $34.7M on these 29 projects with 17 going full cycle.

Investment Details:

Project Name:                                                 City House Charleston

Location (City/State):                                     Charleston, South Carolina

Project Type:                                                   Residential and Mixed-Use Commercial

JIDI Raise Amount:                                        $1,500,000

Investment Unit Dollar Amount:                    $25,000 (60 units)

Projected Length of Investment:                    2 years

JIDI Projected Investor Returns (IRR):          16% (includes a 12% preferred return)

JIDI Projected Investor Equity Multiple:        1.32x