Pre-Sale Opportunity:
Modern Condos in Cincinnati

Project details

Heberle Lofts is not just a development; it's a vision for sustainable urban living, blending historic preservation with modern amenities. It offers a unique live-work-play environment, with spaces designed to foster creativity and community engagement.

Originally purchased in 2012 by Zada Development, extensive market research, planning and design has gone into creating a project program suited for this unique market & opportunity.

Pre-Sale Opportunity

The sponsor is accepting pre-sale deposits at a 10% discount to market value. Deposits equal to 60% are due to secure a unit and 40% due at completion.

Timeline

The subject property was acquired in 2012 and years were spent planning & waiting for the perfect time to develop and take advantage of the area’s growth.

Property Acquisition: December 2012
Planning Complete: November 202
Early Units Sold: [month] [year]*
Pre-Sales Open: April 2024
Pre-Sale Ends: November 2024

Expected Completion: June 2027

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*A few select investor’s were given the opportunity to purchase units even before the official Pre-Sale period. Over 25% of our planned units were committed with deposits made to the project.

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Unit Mix

Efficiency: 8

1 Bedroom: 31

2 Bedroom: 2

Commercial: 6,000sf

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Amenities

Parking: private gated parking 

Tax Advantage: 10-year tax abatement 

Health & Fitness: Modern gym & wellness area

Common Space: rooftop sundeck & lounge

Technology: smart intercom, elevator

Laundry: Washer/dryer in each unit 

Storage: storage & bike rooms

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Project Thesis

The driving forces behind this project are the broader trends around urban renaissance in tier 2 cities, declining home ownership, and the compelling demographics & growth trends in Cincinnati specifically.

Urban Renaissance

Tier 2 cities across the US are experiencing a renaissance as cost of living soars, especially in larger cities. Young individuals and families, now with more freedom to choose where to live due to remote work and changing norms in career development, look to escape the traditional metros of New York, Chicago and LA.

Cincinnati Growth Trends

Cincinnati specifically is one city that has seen incredible growth. The West End neighborhood of Cincinnati in particular is unlocking new potential growth through a landmark investment from FC Cincinnati. The soccer club is investing over $300M to develop a dynamic mixed-use district around its stadium.

“Demolition is underway for phase one of a $300 million, 8.5 acre best-in-class mixed use district north of TQL Stadium. The district will include a hotel, apartments, office space, retail, restaurants, and a privately owned public green space. Located in the West End, adjacent to Over-the-Rhine and near Downtown, the district will be at the heart of Cincinnati.”

– FC Cincinnati Press Release (link)

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Declining Home Ownership

Along with general cost of living increases, home ownership has now become out of reach for most Americans. Renters, especially Gen Z and millennials, are looking for apartments they can turn into long-term homes. High-quality design is an incredibly important part of this, especially with these hypervisual generations now driven by aesthetics as they are inundated with inspiration on social media.

AJ Capital Partners, a real estate investment firm with backing from Starwood Capital & other prominent institutions, launched Memoir Residential in May 2023. Though AJCP has traditionally focused on hotels, they are bringing the same level of branding an aesthetics to residential to solve for the same issue Heberle Lofts hopes to address in Cincinnati.

Competitive Advantage

Heberle Lofts has two key advantages when comparing it to other investment opportunities: the sponsorship team and their unique access to materials, and the decision to develop a condo project without restrictive HOAs – giving investors autonomy not typically seen in these developments.

Sponsor's Unique Access

Led by Zada Development and Golan Marom, its Founder & Principal, the project benefits from his ownership in the cabinet showroom, Aster Cucine. This connection ensures access to high-quality materials & design services at significantly reduced costs, allowing Zada to develop a superior product at a low basis for its investors.

Investor Autonomy

Additionally, the project's flexibility in allowing both long-term and short-term rentals, uncommon in condo developments, presents a lucrative investment avenue. Short-term rentals, in particular, offer the potential for 3-4x the revenue compared to long-term rentals, further underscored by Cincinnati's appeal as a top destination, new attractions, and the overall strength of the local market.

Project Financials

For Pre-Sale investors, Heberle Loft condos range in price between $285,000 - $455,000 and are expected to appraise & sell at a +10% markup to Pre-Sale prices once completed. The charts below show rental income and return potential in Long-Term and Short-Term Rental scenarios.