Seventeen Modern Manor residences across five buildings in one of Charlotte's
fastest appreciating corridors. Funded by a single equity raise:
no construction lender, no draw approvals, no debt service.
First closings inside seven months.
A high conviction infill play built on the Missing Middle.
The Beatties Ford Collection targets the gap institutional supply has refused to fill:
attainable, design-led density between traditional single family homes and commodity
apartment blocks. Seventeen residences across two quadplexes and three triplexes,
drawn to read as high end single family estates from the curb.
We call this Stealth Density. Maximum unit count, premium aesthetic,
and none of the community resistance that typically slows multi family infill.
The result is a Modern Manor product that commands top of market pricing in a corridor
appreciating faster than the rest of the Charlotte MSA.
I.
Distressed Land Basis
A roughly $290K payoff of the landowner's distressed mortgage secures all five parcels. The landowner contributes the land for a fully subordinated 40% profit interest: no guaranteed return, no voting rights.
II.
Stealth Density
17 residences across five buildings, drawn as estate grade architecture. Upscale buyers, no NIMBYism, maximum yield per acre.
III.
All-Equity Structure
One raise funds the whole project. No lender in the capital stack means no interest expense, no inspection-gated funding, and no debt-service penalty if the schedule moves.
02 · The All-Equity Advantage
We removed the lender. The margin stayed.
The prior underwriting carried a construction loan. Restructuring to a single
$3.5M equity raise deleted an entire expense category and every lender-driven
delay from the critical path.
Cost of Schedule SlippageInterest accrues dailyNo debt service
Carrying Costs Over HoldDebt service + taxes + insurance$144,000 · no debt service
Investor PriorityBehind the bankFirst out
Sponsor still commissions independent progress inspections at foundation, framing,
dry-in and final for investor reporting. Discipline without the lender's drag.
Front Elevation · Type A TriplexCharlotte NC
03 · The Modern Manor Standard
White board and batten. Black trim. Quiet minimalist rooflines.
Every elevation is intentional. The architectural language is the current
Charlotte preference, executed without compromise, so the product feels
bespoke and never commoditized.
Interior Spec
Quartz islands. Floating shelves. Nine foot master ceilings.
· 9'0" volume ceilings in every master suite
· Quartz islands, floating natural wood shelves
· Modern fireplaces, grey and white diamond tile surrounds
· Black minimalist fans, integrated lighting throughout
Resident Experience
Built in office. Integrated garage. Estate grade utility.
· Purpose built entry office for hybrid work
· Integrated garage and mudroom with custom bench and hooks
· Open concept main floor flowing kitchen, dining, great room
Front Elevation · Type AKitchen & DiningEntry Office & Stairs
010203
04 · The Floor Plans
~1,500 sq.ft. of open concept utility per residence.
Two building typologies, Quadplex and Triplex, totaling 25,500 buildable square feet.
Each unit pairs a main level great room, kitchen, dining, integrated garage and mudroom
with a private upper level containing three bedrooms and a nine foot master suite.
Quadplex · Type Q4 Units / Building
Main LevelUpper Level
2Buildings
8Units
6,000sq.ft. each
Triplex · Type T3 Units / Building
Main LevelUpper Level
3Buildings
9Units
4,500sq.ft. each
Aggregate
5 Buildings. 17 Residences. 1 Raise.
Two architectural typologies, one Modern Manor language, engineered to look like five custom estates from the street. All funded by a single equity close.
Seven thousand builds of muscle memory. Forty-five days per structure.
The Collection is built by Slate Building Group of Cornelius NC,
with vertical cost contracted at $97 per square foot. Slate's
contracted commitment is 45 days per structure, mobilizing the next at framing,
a stagger that finishes all five buildings in a 137 day vertical window.
Completed Jobs
0+
Permitted Projects in NC
0
BuildZoom Score
111 · Top 4% Statewide
Vertical Cost
$97/SF Contracted
Build Cycle
45 Days / Structure
“
The only builder in Charlotte that pays you back if the project
does not finish on the agreed timeline. That structural skin in the game
is why we chose Slate to build the Collection.
Slate Principal
Brent Zande
Founder · Slate Building Group
Investor first, builder second. Brent built Slate around a "high five in the drive"
delivery culture, with real time client updates, a documented community build out
process, and a fixed timeline guarantee that puts the firm's own capital at risk
against missed schedules.
Foundation to punch in four phases: slab, framing and dry-in, MEP and envelope, interior finish.
02
Staggered Mobilization
The next structure breaks ground when the prior completes framing, overlapping crews without doubling trades.
03
Contracted Pricing
$97/SF vertical cost set by a fixed-price builder commitment. Breakeven for the project sits at $147/SF, 34% above Slate's price.
04
On-Time Guarantee
Slate pays the client back if delivery misses the agreed schedule.
06 · The Timeline
Ground breaks Month 5. Revenue starts Month 7.
A conservative 120 day front-end absorbs Charlotte permitting risk. Then five
staggered 45 day builds complete all vertical work by Day 257, and closings
begin months before the final structure finishes.
M1M5M8.6M14M18
Close & Land Acquisition
Plans, Permitting & Civil
Site Prep & Utilities
Quadplex 1 · 4 Units
Quadplex 2 · 4 Units
Triplex 1 · 3 Units
Triplex 2 · 3 Units
Triplex 3 · 3 Units
Marketing & Showings
Sequential Closings
Contingency Buffer
Day 0
Day 0Syndication closes. Capital funded, land acquired.
Day 120Vertical begins after a full 4 month permitting buffer.
Day 165First certificate of occupancy. First four units listed.
Day 195First closings. Revenue flows back to the project.
Day 257All five structures complete. Every unit on market.
Day 420Target full sellout. Capital and preferred returns paid.
Every month saved matters: preferred returns accrue at roughly $26,250 per month
on the full raise. Exiting at 14 months instead of 18 preserves about $105,000.
If city review runs past the Day 120 buffer, vertical start moves and preferred
returns continue accruing; that risk is priced into the outside window.
07 · Pro Forma
Stressed to $110/SF and an 18 month hold. Preferred returns still covered 2.1 times.
Line ItemBase Case
Gross Revenue · 17 Units at $300K$5,100,000
Land Acquisition · Incl. Closing$301,700
Pre-Development · Incl. Platting$175,000
Vertical Construction · 25,500 SF$2,473,500
Holding Costs · No Debt Service$144,000
Construction Contingency · 7.5%$185,513
Disposition Costs · From Proceeds$459,000
Total Project Costs$3,738,713
Gross Profit$1,361,288 · 26.7%
LP Preferred Obligation$367,500 · 14 mo
Preferred Coverage Ratio3.70×
Disposition costs, 3% closing and 6% commissions, are paid from sale proceeds at exit,
not funded by the raise. The stress case carries the full $110/SF cost and the slower
18 month sellout at once. Breakeven build cost is $147/SF; Slate's contracted price
sits 34% below it. On the revenue side, $300K per unit is below current 28216
comparables of $315K to $320K.
Price sensitivity: the model assumes the worst row
Price / UnitSelloutGross ProfitMarginUpside vs Model
$330K · Expected at Delivery$5,610,000$1,825,38832.5%+$464,100
$340K · Expected at Delivery$5,780,000$1,980,08834.3%+$618,800
Current 28216 comparables are $315K to $320K today. Every number on this page is
built on the $300K row anyway; the comps rows are upside the model refuses to count.
The distribution waterfall
01
Return of Capital
100% of the $3.5M raise returned to LPs. First out, before anyone else is paid.
02
Preferred Return
10% annualized to Class A, 8% to Class B. Equal first-out priority.
03
LP Residual · 15%
LPs share 15% of post-preferred profit. First-loss capital earns upside, not just a coupon.
04
Landowner · 40%
Fully subordinated interest for contributing the land. Paid after investors are whole.
05
Sponsor · 60%
The GP is paid last. Sponsor economics sit behind every investor dollar.
08 · Model Your Return
Two share classes. One priority.
Class A units, $500,000 and above, earn a 10% annualized preferred return.
Class B units below $500,000 earn 8%. On top of the preferred, LPs share
15% of post-preferred profit, so first-loss capital participates in the
upside instead of being capped at a coupon. Neither class is subordinate
to the other: every investor dollar is first out, ahead of the landowner
and the sponsor.
Illustration only, based on the current model's preferred return terms,
projected residual pool and target timelines. Returns are not guaranteed
and final terms are defined in the Private Placement Memorandum, which is
in preparation. No commitments are being accepted until it is complete.
Every number above holds before counting the upside.
This underwriting was rebuilt line by line after independent diligence review.
It is built to work on its worst day, so anything the market gives back lands
as pure margin.
Pricing held below today's compsSellout is modeled at a flat $300K per unit. Current 28216 comparables run $315K to $320K, and expected pricing at delivery is $330K to $340K. Every dollar above the model is additive.
A 16.4% risk buffer against hard costsA budgeted 7.5% construction contingency of $185,513 plus a $220,288 unallocated reserve puts $405,800 of buffer in the raise, well above the 5% to 10% industry norm.
Breakeven at $147/SF, contracted at $97Slate's executed contract holds vertical cost 34% below the project's breakeven. Even a $140/SF blowout, a 44% overrun, still returns capital with profit.
Four months of permitting bufferVertical is scheduled for Day 120 even though permits are expected by Day 105. Charlotte review risk is absorbed before ground breaks, and the site is already improved and plan-reviewed.
An 18 month outside windowThe target exit is 14 months. The model carries preferred accrual and holding costs to 18 months anyway, pricing in four months of slippage that the staggered closings work against.
10 · The Location
Inside 28216, the corridor closing the gap to Uptown.
Five contiguous parcels: 2912 and 2920 Beatties Ford Road plus 2143, 2145
and 2147 Wilson Heights Avenue. Minutes from the Uptown core and on the
trajectory of every major infill capital flow into the city. The parcels
are improved and plan-reviewed, with formal entitlement in process.
One raise funds land, construction, carry and a full 7.5% contingency, with
a $220,288 unallocated reserve on top. Investors hold first-out priority on
every dollar that comes back, plus a 15% share of post-preferred profit.
Class A$500,000 minimum
10%
Preferred + 15% residual share
First-out priority alongside Class B
~$79,600 total on $500K at the 14 month target
13.65% effective annualized at target
$1.75M of the raise allocated to Class A
Class BUnder $500,000
8%
Preferred + 15% residual share
Equal first-out priority, not subordinate to Class A
~$13,600 total on $100K at the 14 month target
11.65% effective annualized at target
$1.75M of the raise allocated to Class B
Sponsor / GPPeople First Property Solutions
Sponsor Track Record300+ Houses Bought & Sold · PF Capital
Project EntityJAM Development LLC
Offering StructureGP/LP Syndication · Reg D 506(c)
Capital Structure100% Equity · No Senior Debt
PriorityCapital + Preferred + 15% Residual, First Out
Hold Period14 Months Target · 18 Months Outside
Subordinated InterestsLandowner 40% · Sponsor 60%, Paid Last
Join the interest list.
We are gauging interest ahead of the offering. The Reg D 506(c) Private Placement Memorandum, amended operating agreement and subscription documents are being prepared by securities counsel; no commitments are accepted until they are complete. The full pro forma, capital deployment schedule, parcel breakdown and diligence record are available to qualified investors on request.
