Exclusive Investment Opportunity
Invest in Black Hawk Apartments in Fort Wayne, IN
Projected 16% – 18% IRR, 7% Preferred Return, 2.0x Equity Multiple, 100% Bonus Depreciation Back — with an assumable agency loan in place.
7 reasons Why we love this deal
Premium Townhome Layouts
67% of units are spacious townhomes — rare in the area. Drives retention, attracts families, and commands higher rents.
Proven Value-Add with Scalable Upside
Only 15 of 209 units have been renovated — those generate up to $345/month rent bumps. 194 units remain to be updated.
Fast-Growing, Job-Rich Market
Fort Wayne has 2.7% unemployment and over $1B in new corporate investment from Amazon, GM, FedEx, and healthcare systems.
Strong Cash Flow + Downside Protection
92% current occupancy, 73% breakeven, and assumable Fannie Mae debt at 5.49% with 17 months interest-only.
Accelerated Depreciation via Cost Seg Study
100% bonus depreciation back for LPs in 2025. K-1s delivered annually for tax optimization.
$460 Rent vs. Own Gap
Even post-reno, rents are $460/month below housing costs — delivering affordability and protection in downturns.
Vertically Integrated Management Team
Hudson Residential will lead operations with AI-enhanced leasing, maintenance, and underwriting efficiencies.
INVESTOR SNAPSHOT
Target IRR
Cash-on-Cash
Equity Multiple
Minimum Investment
Hold Period
First Distribution
Legal Structure
Bonus Depreciation
Financing
Financing
16% – 18%
7% Preferred Return
2.0x
$100,000
5 Years
Q1 2026 (from Q4 2025)
506(c) - Accredited Only
Yes - 100% in Year 1
Assumable Fannie Mae Loan
@ 5.49%
Property Summary
Venus Capital Partners is proud to present our newest value-add opportunity!
the black hawk
Venus Capital Partners present Black Hawk Apartments, a 209-unit, townhome-heavy value-add community located in Fort Wayne, Indiana—one of the Midwest’s fastest-growing and most economically resilient secondary markets.
Surrounded by over $1B in regional investment and boasting submarket-leading rent growth, Fort Wayne offers a compelling backdrop for both cash flow and appreciation.
Black Hawk features a rare 67% townhome unit mix, offering larger floorplans and greater tenant retention.
Only 15 units have been renovated to date, achieving rent premiums of up to $345/month. Our vertically integrated team will execute a proven value-add strategy across the remaining 194 units, with additional upside from amenity enhancements, a fiber internet rollout, and clubhouse modernization.
This opportunity combines reliable in-place income (92%+ occupancy), a scalable renovation roadmap, and the option to benefit from accelerated depreciation via a cost segregation study.
With a projected 16–18% IRR and 2.0x equity multiple, Black Hawk is positioned to deliver strong, risk-adjusted returns in a supply-constrained, affordability-advantaged market.
Why we love this deal
Premium Townhome Layouts
67% of units are spacious townhomes — rare in the area. Drives retention, attracts families, and commands higher rents.
Proven Value-Add with Scalable Upside
Only 15 of 209 units have been renovated — those generate up to $345/month rent bumps. 194 units remain to be updated.
Fast-Growing, Job-Rich Market
Fort Wayne has 2.7% unemployment and over $1B in new corporate investment from Amazon, GM, FedEx, and healthcare systems.
Strong Cash Flow + Downside Protection
92% current occupancy, 73% breakeven, and assumable Fannie Mae debt at 5.49% with 17 months interest-only.
Accelerated Depreciation via Cost Seg Study
100% bonus depreciation back for LPs in 2025. K-1s delivered annually for tax optimization.
$460 Rent vs. Own Gap
Even post-reno, rents are $460/month below housing costs — delivering affordability and protection in downturns.
Vertically Integrated Management Team
Hudson Residential will lead operations with AI-enhanced leasing, maintenance, and underwriting efficiencies.
Property Summary
Venus Capital Partners is proud to present our newest value-add opportunity!
the black hawk
Venus Capital Partners present Black Hawk Apartments, a 209-unit, townhome-heavy value-add community located in Fort Wayne, Indiana—one of the Midwest’s fastest-growing and most economically resilient secondary markets.
Surrounded by over $1B in regional investment and boasting submarket-leading rent growth, Fort Wayne offers a compelling backdrop for both cash flow and appreciation.
Black Hawk features a rare 67% townhome unit mix, offering larger floorplans and greater tenant retention. Only 15 units have been renovated to date, achieving rent premiums of up to $345/month.
Our vertically integrated team will execute a proven value-add strategy across the remaining 194 units, with additional upside from amenity enhancements, a fiber internet rollout, and clubhouse modernization.
This opportunity combines reliable in-place income (92%+ occupancy), a scalable renovation roadmap, and the option to benefit from accelerated depreciation via a cost segregation study.
With a projected 16–18% IRR and 2.0x equity multiple, Black Hawk is positioned to deliver strong, risk-adjusted returns in a supply-constrained, affordability-advantaged market.
Equity Structure
*For Accredited Investors*
Built for Cash Flow and Long-Term Upside
This offering features a single equity class designed to deliver a strong balance of income and appreciation. Investors receive a 7% preferred return, along with participation in upside through a profit split structure. With a minimum investment of $50,000, Class B provides aligned incentives, tax benefits, and stable risk-adjusted returns over a 5-year hold.
investment summary
FORT WAYNE
The Heart of the Midwest
#Top 2 Fastest-Growing Metro in the Great Lakes Region
FORT WAYNE, IN
A City on the Rise
Population + Job Market Momentum:
2.1% projected growth (5-mile radius by 2029)
14.3% income growth forecasted within 5 years
Top 2 Fastest-Growing Metros in the Great Lakes Region
250,000+ annual graduates from nearby R1/R2 universities
UNMATCHED
MEET YOUR SPONSOR
Venus Capital + Hudson Investing
Vanessa Alfaro
CEO, Venus Capital
$87M+ Acquisitions • Multiple Exits Exceeding Plan • Forbes Business Council
Curtis Edwards
Managing Partner, Hudson Capital
$249M+ Acquisitions • Multiple Exits Exceeding Plan • 1,553 Units Under Management
OUR TRACK RECORD
Preserving Capital. Producing Results.
35
Properties Acquired
$150M+
Raised
2,500+
Units
LP IRRs: 16%–22%
Full-Cycle Exits
Beating Plan
Vertically Integrated Operations
Regulation D 506(c) Offering — For SEC Accredited Investors Only. All investors must verify accreditation status via third party.
Disclaimers, subscription instructions, and portal access via InvestNext.
This is a Regulation D 506c offering for SEC Accredited Investors only. All investors will need to go through a third party accreditation verification process. This is not a solicitation for non-accredited investors to participate in this offering.
© 2025 | Venus Capital, LLC