LowellT Investor Updates
Watch your quarterly update and then, if you have any questions, book a 15min appointment in a time that best fits your schedule at https://irontoncapital.com/booknow or email us at ir@irontoncapital.com
1Q25 LowellT Investor Update
Click anywhere on the video to begin 1Q25P2 of the Update…
5/14/25 Notes from 1Q25P1:
Here’s a Q1 update for our project. Above is a Part1 PDF with a market update from myself, Andrew Darlington (our listing agent), Brent Guyor (on the investment committee at Ironton) and Eric Romero (lead managing broker at YCRE). To save you five pages of reading, the key points are:
- The market continues to be very soft in general
- Attached products (condos, townhomes) are taking the biggest hit
- Prices are continuing to decline for attached product, esp: in neighborhoods where builders have added lot of supply (like ours)
- We likely need to reduce the asking price $15K per unit from our last discussion
- We will list at this new, lower price point and see what reaction we get. In 6-8 weeks we should have specific market insight for our product, and if needed, we can discuss our options as a group. The majority of you preferred to sell now vs. wait and rent. I’ll follow that guidance. If the prices have to drop a lot to sell, I’ll update you on the IRR impacts as needed
Construction Update:
- 1372 is very close to CO (certificate of occupancy). We should have at least two units ready for the market this week. Staging is scheduled.
- 1370 has the foundation complete and they are backfilling this week. All underground plumbing is underway. Should start framing in the next couple weeks.
Going on the Market Walkthrough Pictures:
4Q24 LowellT Investor Update
Click anywhere on the video to begin… 4/18/25 replay 11min
Click anywhere on the video to begin… 4Q24 replay