West Lombard

OFFERING HIGHLIGHTS
  • 8% preferred return + profit share
  • New construction housing project
  • Net zero with passive ventilation
  • Transit, restaurants + coffee shops nearby
  • Preferred equity offered
  • 3-yr investment horizon
  • Offering closes Jan 31, 2025
  • Cancel investment through Jan 29, 2025
West Lombard

Brand new multifamily residences. Net Zero.

Highlights
  • Under constructon. The project is underway and making steady progress
  • Making an impact. Self-powered, achieving Net-Zero energy through enhanced insulation, high performance windows, and rooftop solar panels
  • Elevated design. Each unit is a corner, maximizing natural light to all rooms, and includes over-sized private outdoor space
  • Walkable + bikeable. Walk score of 84 and bike-score of 99
  • Easy access. Close to restaurants, coffee shops, retail and transit.
  • Quick build. 12-month construction period + 6 months to stabilization
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About the plan
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About the change

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Renderings
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About the developer

George McCleary has worked in the Portland real estate industry since 2003 as a broker, investor, and developer. He is a veteran of complex sales, rehabs and ground-up developments, ranging from single-family homes to high-rise residential towers. George understands and thrives in the complexity of developing property in Portland. A native since 1988, he values both the old and the new when engaging in a local real estate project, with the goal always being the coveted triple bottom line--people, planet, and profit.

Mitch Powell is the owner of The Powell Group LLC, which he founded in 2012. Previously Mr. Powell had spent more than 18 years working in the construction industry. Mr. Powell started his career as a laborer and after completing his undergraduate degree became a Superintendent for D.R. Horton Inc. During his time at D.R. Horton Mr. Powell constructed more than 150 multi-family homes along with another 250 single family homes in a total of 16 subdivisions. Mr. Powell then transitioned to a custom home building firm Ostercraft homes. During his time with Ostercraft homes Mr. Powell oversaw the construction of 7 different custom homes located in SE Portland and Lake Oswego. Upon completing his graduate degree Mr. Powell became a licensed contractor and founded The Powell Group LLC. Since its inception, The Powell Group has built one custom home in Lake Oswego, completed two commercial tenant improvement projects in Portland and Vancouver Wa, three major remodels, two multi-family projects and 35 ADU’s. The Powell Group is currently active in building two ADU’s in SW Portland at 1244 SW Cheltenham St and 1348 SW Kari Ave. The Powell Group is also engaged in the development of a duplex and 4-plex in Hillsboro.

Jeff Shindler has a Bachelor’s Degree in Psychology from UC Santa Cruz and a Masters in Real Estate Development from Portland State University. Jeff has 15 years’ experience in industrial real estate management and sales, as well as 10 years’ experience in multifamily acquisitions, financing, and development.

Robert Pile grew up in Milwaukie, OR and attended La Salle High School before going to the University of San Diego where he received a Bachelor’s Degree in Economics, Real Estate. He then returned to Portland and started working for TMT Development as an Associate Property Manager in 2006. Over the 13 years he was with TMT, he also served as the Director of Operations, Associate Vice President, COO, and Executive Vice President, Development and Construction. In 2014, he received a Master’s Degree in Real Estate Development from Portland State University. His major professional accomplishments include managing more than a million square feet of Class A office, retail, and residential space; executing millions of dollars in Class A office and retail Tenant Improvements; co-managing the construction of a major mixed use high rise in downtown Portland; and managing the development and construction of a 59-unit mixed use residential/retail project in SE Portland. Robert is a Certified Construction Manager (CCM), and an Oregon Principal Broker. He’s also an active member of the Oregon chapter of NAIOP and serves on the Public Affairs committee.

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How will this work for you?

We have created a mathematical calculation based on our current assumptions about the Project's completion and operations. Cash flow and profits from liquidation are expected to net a total of $1,047,164 over the 3-year period. Our calculation shows that a $5,000 investment might return $6,924 over that period.

Some of our assumptions will prove to be inaccurate, possibly for the reasons described in the Risks of Investing. Therefore, the results of investing illustrated in our calculation are likely to differ in reality, for better or for worse, possibly by a large amount.

Please also review the Company's LLC Agreement and Crowdunding Vehicle Agreement for additional detail on how distributions will be made.

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Construction progress
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About the offering

The Company is engaged in a Regulation Crowdfunding (Reg CF) offering (the “Offering”) to raise money for a real estate project in Portland, Oregon, a three (3) story, twelve (12) one (1) bedroom unit multifamily apartment building engineered to target net-zero energy use.

We are trying to raise a maximum of $100,000, but we will move forward with the Project and use investor funds if we are able to raise at least $50,000 (the “Target Amount”). If we have not raised at least the Target Amount by 11:59 PM EST January 31, 2025 (the “Target Date”), we will terminate the Offering and return 100% of their money to anyone who has subscribed.

The minimum you can invest in the Offering is $1,000. Investments above $1,000 may be made in $1,000 increments (e.g., $2,000 or $3,000, but not $2,136). An investor may cancel his or her commitment up until 11:59 pm EST on January 29, 2025 (i.e., two days before the Target Date). If we have raised at least the Target Amount we might decide to accept the funds and admit investors to the Company before the Target Date; in that case we will notify you and give you the right to cancel.

After we accept the funds and admit investors to the Company, whether on the Target Date or before, we will continue the Offering until we have raised the maximum amount.

You can review the offering documents here or as registered on the SEC website. Investments under Reg CF are offered by NSSC Funding Portal, LLC, a licensed funding portal.

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Construction drawings

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About the risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment.

In making an investment decision, Investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document.

The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.

These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.

There are numerous risks to consider when making an investment such as this one and financial projections are just that - projections. Returns are not guaranteed. Conditions that may affect your investment include unforeseen construction costs, changes in market conditions, and potential disasters that are not covered by insurance. Please review Risks of Investing for a more expansive list of potential risks associated with an investment in this Company.

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