Acquisition Portfolio

Traverse Point - Las Vegas, NV

On July 16, 2009, the Fund purchased 26 residential multi-family units in Las Vegas, in a complex called Traverse Point. There are a total of 296 units in the complex. Traverse Point offers easy access to the finest shopping centers, dining, and recreational activites found in Las Vegas. Just minutes from the famed Las Vegas strip, the lifestyle combines elegant living with the excitement and attractions that the world entertainment capital has to offer.

Financial Performance Summary

Shortly after this acquisition, Traverse Point has seen net rent increases while occupancy rates have remained at reasonable levels (averaging 83%). Optimus maintained use of office space in the clubhouse in fall 2010 to increase rental presence and maximize occupancy of its 24 units. An internal unaudited 2010 financial summary of Traverse Point is presented in Schedule F, and shows the property had net earnings of $84,720 on a revenue of $227,092 producing a property cap rate of 5.65% (based on a purchase price of $1,500,000).

Photo Gallery

Below are photos of the Riverwalk project. Click on the thumbnail to view a larger version of the photo.