For real estate investors who want a piece of Denver's hot housing market.
An office building becoming 48 apartments. Targeting a 22.8% investor IRR.
3595 S Teller Street, Lakewood. 15 to 20 minutes from downtown Denver.
Tired of single-digit, ordinary returns? Outsized returns come from outsized projects, like converting a vacant 1981 office building into apartments, in-house.
The 22.8% is a projected net investor IRR on a sample position, taken from the offering's model, not a guaranteed return.
Four questions. About two minutes.
↓ Start here. Four questions
Question 1 / 4
Which of these describes you?
Most real estate investments ask you to trust a projection on paper. A pitch deck, a rendering, a fund manager you'll never meet, holding your capital until an exit that may or may not happen on schedule.
You've probably heard a version of this pitch before. Strong sponsor, great market, attractive returns. It sounds the same right up until the distributions don't show up on time.
Here's what's different: it's a real, physical building you can drive to and walk through today. Talus Properties bought it for less than it would cost to build new, because the market hadn't priced in what a vacant office building could become.
Talus puts in more than half of the equity, invests alongside you, and takes the first loss if the project underperforms. That's the actual capital structure, not a marketing line.
Talus runs the entire process in-house: acquire below cost, convert the space, lease it up, manage it. The 1981 office building becomes 48 one-bedroom units, split evenly between long-term rental (Lakewood's medical, university, and commuter base) and short-term rental (mountain-bound and medical-tourism demand). Two income streams from one physical asset.
President Chris Robbins has more than 25 years in construction and development, holds a Class-A General Contractor's License, and has developed or repositioned more than two million square feet. That license is what lets Talus convert this building in-house instead of marking up a third-party contractor's fee.
Track Record
Talus has done this before, with its own money. Both exited projects were funded without outside investors, and both sold at IRRs above 95%. Teller Street is Talus scaling the same model up and opening it to investors. Three prior projects, two exited and one still held.
- 2.25x equity multiple
- 37 suites, vacant to fully leased
- Exited 2014
- 4.08x equity multiple
- 14 suites, 40% to full occupancy
- Exited 2016
- 5.9x equity multiple
- 94 units, mixed/underperforming to fully occupied
- Currently owned, held since 2017
Ask for the full return model behind this sample position, the downside case, and a walkthrough of the property, not just the pitch.
A 30-minute call to confirm fit, then a property walkthrough if you want one. For accredited investors. $100,000 minimum.