Multifamily Investment
Ranchland
Apartments
1212 E. Wadley · Midland, TX 79705.
A value-add multifamily recapitalization project.
506(c) Reg. D — Available for Accredited Investors only
Projected Returns
Underwritten for outperformance.
Property Overview
A 204-unit opportunity, led by an operator with deep multifamily roots.
IILIFE, the Manager, presents Ranchland Apartments, a 204-unit multifamily investment in Midland, TX. Our management team brings decades of multifamily industry experience and a proven record of executing value-add business plans at scale.
506(c) Reg. D — Available for Accredited Investors only
Highlights
A clear path from acquisition to stabilized core-plus.
Location
E. Wadley Avenue in Midland, TX — three blocks west of the new $492.6M Midland High School (3,800 students, opening Aug 2028), with easy access to Highway 250 and I-20.
Value Add
A $1.5M program to lease 37 vacant units from 80.4% to the 94% market average and renovate 100–160 interiors, with an exit underwritten in years 3–5 at a 7.25% cap.
Management
Upon recap, IILIFE manages the property directly — stabilizing occupancy through the bridge year, executing the renovation program, and refinancing into agency debt at ~57% LTV.
Why now: Midland market alpha.
- Permian Advantage, Per-capita income $143K (#2 among U.S. metros); unemployment ~3.1%; Permian output 6.6M bbl/day.
- Rent Growth, IPA ranked Midland the highest rent-growth MSA in the U.S. (Jan 2026, +10% YoY); this underwriting assumes just 3.0%.
- Supply Constrained, Essentially zero multifamily units under construction metro-wide; Ranchland dominates the affordable tier.
- Modernization, $1.5M program on 100–160 units underwritten at a $175/mo premium (sponsor targets $250).
- Corporate Pilot, 8 brand-new units in Bldg #15 — Section 8 at $1,500 underwritten, corporate housing at $2,500+ as upside.
- Exit, Years 3–5 at a 7.25% cap: $19.7M–$21.0M gross against a $13.5M basis.
Forced appreciation, structurally protected.
- Capital committed so far: $2M of the $5.5M total equity, with limited seats remaining.
- Financing, An $11.0M Avatar bridge (SOFR+6.89%, 10.49% floor, IO) with an agency take-out at ~6% needing only ~57% LTV and covering 1.76x.
- Insurance Alpha, $2M+/- insurance-funded, new-code Building #15 with sprinklers — free equity to the partnership.
- Projected, Class A-3 net 19.8% IRR / 1.70x in the conservative base case; 29.3% / 2.13x in the sponsor case.
Special situation to institutional core-plus.
Bridge to $1.44M NOI in Year 2, $1.56M by Year 3.
Lease 37 vacant units from 80.4% to the 94% market average over ~18 months. Every point of occupancy is worth roughly $29K of NOI.
A conservative $175/month premium on 160 renovated interiors — below the sponsor's $250 target and the observed $200–$400 comp gap.
Eight new-code, sprinklered units underwritten at Section 8 rents of $1,500 — roughly 16% inside the $1,780 Midland FMR — with corporate housing at $2,500+ as unmodeled upside.
GP Insight, The "Fire Rebuild" Bonus: Every dollar used to rebuild the fire-damaged units is funded by insurance proceeds, not investor capital.
$1.5M deployed for institutional curb appeal and modern interiors.
160 units at roughly $3,766 each — kitchens, appliance packages, flooring, and baths — targeting a $175/month premium.
Siding, repainting, parking, roofs, HVAC, and site security across the 16 garden buildings.
Down-unit restoration of 4 units ($80,000), CM fee and 10% contingency ($114,260), plus soft costs, working capital and reserves ($243,140).
506(c) Reg. D — Available for Accredited Investors only
Value-Add Levers
Buy Below Every Opinion of Value
Four broker opinions since 2024 concluded $14.0M–$16.9M. This negotiated recapitalization enters at $13.5M ($66,176/unit) — roughly 45% of estimated replacement cost.
Close the Occupancy Gap
Ranchland is 80.4% occupied against a ~92–94% market. Every point of occupancy is worth roughly $29K of NOI; recovering to 94% adds about $390K of annual revenue before any renovation premium.
Close the Rent Gap
In-place rents average $992 while the renovated 1976–1983 comp set runs $1,177–$1,450 at 95%+ occupancy. This summary underwrites a $175/month premium — beneath the sponsor's $250 target.
Insurance-Funded Building 15
A tenant-negligence fire took 8 units offline. The carrier is rebuilding to current code with sprinklers at its full cost of $2M+/-, and the $250K deductible is borne by current ownership, not this offering.
Land Use Restriction — A Benefit
A TDHCA LURA restricts 72 units (41 at 50% AMI, 31 at 80% AMI) through March 2034, underwritten at restricted rents that sit above today's actual rents. Roughly 132 units are unrestricted market product.
Property Highlights
16 two-story garden buildings on roughly 7 acres.
Built in 1983 and totaling ~161,300 sq ft, Ranchland features a clubhouse, multiple courtyards, a swimming pool for hot Texas days, and washer/dryer connections in every unit. The mix is 84 one-bedrooms (610 sf), 32 two-bed/one-bath (875 sf), and 88 two-bed/two-bath (932 sf). Building 15 — 8 units taken offline by a fire — is being rebuilt to current code with sprinklers, funded entirely by insurance.
506(c) Reg. D — Available for Accredited Investors only
Midland’s Growth Boom
Real estate development that shows no signs of slowing down.
Midland's economy is anchored by the Permian Basin — 6.6M barrels a day, the most productive oil field in America — with ExxonMobil, Chevron, ConocoPhillips, Oxy, Diamondback, and Halliburton all on the ground. Metro GDP is $53.7B, population 150,351 and up 8.1% since 2020, and unemployment sits near 3.1%.
Per-capita income of $143K ranks #2 among U.S. metros. Institutional Property Advisors called Midland the highest rent-growth MSA in the country in January 2026 at over 10% year-over-year, while essentially zero multifamily units are under construction metro-wide. Midland is, however, a single-industry economy tied to oil prices — which is why this underwriting assumes only 3.0%rent growth and stresses the exit to a 7.75% cap.
Investors
This is for you if you are…
An Accredited Investor
Not sure if you qualify? We’ll point you to a quick definition and the verification process.
With $250K+ to Invest
Minimum investment is $250K with a projected hold period of 3+ years.
506(c) Reg. D — Available for Accredited Investors only
High-yield opportunity, limited to accredited investors only
Why Invest
Multifamily, done well.
Cash Flow
Steady, dependable income from properly underwritten multifamily.
Capital Appreciation
Receive back more than you invested over the hold.
Tax Benefits
Significant potential shelter, consult your tax professional.
Stability
Lower volatility than public-market equities.
Inflation Hedge
Multifamily values rise with inflation.
Diversification
Uncorrelated with corporate earnings cycles.
Generational Wealth
One of the most reliable paths to lasting legacy.
Why Work With Us
Expertise & execution.
Experience
Leadership team with 100+ combined years across multifamily.
Specialization
Focused expertise in markets we know on the ground.
Research
Wall Street-grade underwriting and analysis.
We Own & Manage
Vertically integrated, no third-party operators.
Vested Interest
We invest our own capital alongside yours.
Proven Track Record
Consistent 25%+ annualized returns in value-add deals.
Core Values
Integrity, transparency, excellence, every deal.
Investment Structure & Snapshot
Compliant, transparent, and built around investor protection.
The property is owned by RANCHLANDMTX LLC, a single-purpose entity 100% owned by the recapitalization vehicle RANCHLANDMTX1 LLC. Investors are admitted as Members of the HoldCo, while IILIFE serves as Manager. All operating documents are drafted by securities counsel to ensure regulatory compliance.
This offering is conducted under Regulation D, Rule 506(c) and is strictly limited to Accredited Investors. Per SEC mandates for general solicitation, the Manager must verify each investor’s status via a third-party verification letter (CPA, attorney, or RIA) dated within 90 days of subscription.
Ready to begin?
Invest in Ranchland Apartments,
Build Legacy Wealth.
Schedule a 1:1 with Ravi or download the full Offering Memorandum for property details, market analysis, and financial projections.
506(c) Reg. D — Available for Accredited Investors only
Disclaimer: This opportunity is available to accredited investors only and requires verification of accredited status to participate. Returns are projected, not guaranteed, and subject to change.