Argos Reno, Nevada

We purchased 100 acres of entitled land just 15 minutes west of Reno for $12.5M. We raised an additional $4M to finish out the lots and build the first phase of spec homes. We contracted to sell a portion of the property to a 3rd party, and the proceeds from that sale helped fund the construction on the remaining lots. Investors received their capital back and preferred return in 2022. Investor IRR was approximately 10.5% depending on when capital was invested.