Hi Andzrej,

We've reopened The Jasper - a preferred equity investment in a boutique Class A mixed-use development on Tennyson Street in Denver's Berkeley neighborhood - to a limited number of new investors.

Since the initial offering closed in early 2025, the project has advanced significantly. The building is now approximately 90% complete, with final inspections underway and a Temporary Certificate of Occupancy projected for June 2026. The property manager has been engaged, marketing launches this month, and pre-leasing is on target for May.

This additional raise funds the remaining costs to reach completion. With minimal construction risk remaining and a clear line of sight to stabilization, the current entry point offers a substantially de-risked position in the capital stack.

Investment Highlights

ATTRACTIVE BASIS, LIMTED REMAINING RISK

The investment's last-dollar basis of $463K per unit reflects a 17% discount to the project's as-stabilized appraised value and a 6% discount to comparable transactions. Market rents in the submarket are currently tracking approximately 5% above original underwriting, and Denver's Class A multifamily fundamentals continue to strengthen as new supply deliveries decline.

ALIGNED SPONSORSHIP & CONTRACTOR

First Stone Development, a Denver-based sponsor with 800K+ SF of completed projects, has contributed equity alongside Schneider Building Company, the general contractor, which is reinvesting its fee into the project. The GMP contract ensures cost control, and the combined sponsor/GC equity stake represents the majority of the equity - aligning their interests directly with investors.

PREMIER BERKELEY LOCATION

Situated on one of Denver's top retail and dining corridors, the 34-unit property with 2,510 SF of street-level retail benefits from strong walkability, proximity to Downtown Denver, and excellent transit connectivity. GreenStreet and Niche both rate the zip code an A, with A+ in Nightlife and A- in both Jobs and Commute.

INVEST IN THE JASPER →

If you have any questions, please reach out to ir@equitymultiple.com or schedule some time to chat with our team below.

Happy Investing,

		events.equitymultiple.com

		646-813-3722

		ir@equitymultiple.com

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Net Returns: All internal rates of return or IRR are net of fees and entity level expenses unless explicitly stated otherwise. In certain cases, entity expenses are allocated on a flat, per investor basis and are not netted from returns due to the variable impact on individual investors. Such expenses are generally $100 or less annually and detailed in the offering documents.

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