https://lv5capital.com/assets/InvestCottonwoodCreek-DNsl_mcR.js

1import{j as e,S as w,J as c,L as m}from"./index-pnw7vN9z.js";import{H as j,a,F as C,M as g}from"./Footer-BJxCwxzn.js";import{B as s}from"./button-B9_AU6ak.js";import{C as N,a as k}from"./card-DYfi2lB_.js";import{C as u}from"./circle-check-B6EzCCEx.js";import{M as r}from"./message-square-text-A59Uxrw7.js";import{H as f}from"./handshake-g8cd-Dza.js";import{H as T}from"./house-h4LKP__E.js";import{B as R}from"./building-2-B7Gazl9g.js";import{C as L}from"./calendar-days-CsVtwpPb.js";import{C as b}from"./chart-column-CLqtUWEp.js";import{T as d}from"./trending-up-CeXbOOsm.js";import{D as V}from"./dollar-sign-ka5Cxv1f.js";import{S}from"./shield-check-C-r8UHWU.js";const i="(419) 302-3940",l="sms:+14193023940?&body=WAITLIST",x="https://crm.lv5capital.com/widget/bookings/jeff-dulmage-personal-calendar-fpv0anlem",P="[email protected]",A="mailto:[email protected]",n=100,I=0,D=[{src:"/cottonwood-creek/gallery-1.jpg",alt:"Aerial rendering of the planned Trulo Homes Cottonwood Creek build-to-rent community in Waco, Texas"},{src:"/cottonwood-creek/gallery-2.jpg",alt:"Trulo Homes single-family-style rental exteriors (photo from Trulo Jenks, an existing Red River Development community in Oklahoma)"},{src:"/cottonwood-creek/gallery-3.jpg",alt:"Resort-style pool, private yards and gated streets at Trulo Jenks, an existing Red River Development community (representative of planned amenities)"},{src:"/cottonwood-creek/gallery-4.jpg",alt:"Clubhouse and unit interiors at Trulo Jenks, an existing Red River Development community (representative finishes)"},{src:"/cottonwood-creek/gallery-5.jpg",alt:"Clubhouse lounge at Trulo Jenks, an existing Red River Development community (representative finishes)"},{src:"/cottonwood-creek/gallery-6.jpg",alt:"Site location aerial showing the I-35 corridor and Central Texas Market Place near Cottonwood Creek in Waco, Texas"}],h=[{icon:T,label:"Units",value:"206"},{icon:R,label:"Asset Type",value:"Build-to-Rent"},{icon:L,label:"Construction",value:"~23 mo"},{icon:b,label:"Target Hold",value:"~43 mo"},{icon:g,label:"Market",value:"Waco, TX"},{icon:d,label:"Projected IRR",value:"24.5%"}],W=[{label:"Total Project Cost",value:"$55,770,000"},{label:"Construction Debt (65% LTC)",value:"$36,200,000"},{label:"Total Equity (35%)",value:"$19,520,000"},{label:"Loan Structure",value:"Enterprise Bank & Trust — interest-only initial period"},{label:"Equity Funding",value:"Sponsor & LP pari-passu before loan advances"},{label:"Developer / Sponsor",value:"Red River Development (Trulo Homes)"}],M=[{icon:b,label:"Target IRR",value:"24.5%",note:"projected, full cycle"},{icon:d,label:"Equity Multiple",value:"2.01X",note:"projected, full cycle"},{icon:V,label:"Cash-on-Cash",value:"8.8%",note:"projected, begins ~month 30"}],_=[{label:"Projected Exit Cap Rate",value:"5.50%"},{label:"Trended Yield on Cost",value:"8.2%"},{label:"Untrended Yield on Cost",value:"7.5%"},{label:"Targeted BTR Rent Premium",value:"~16.8% vs. traditional multifamily"}],$=[{icon:d,title:"High-Yield Build-to-Rent in Growth Texas",body:"A 206-unit ground-up build-to-rent community in south Waco — single-family-style duplex rentals with private yards, private garages, high-end finishes, and resort-style amenities (pool, fitness center, clubhouse, dog park, gated). BTR is one of the fastest-growing rental categories in Texas."},{icon:g,title:"Prime South Waco Location",body:"Positioned at I-35 & Bagby Avenue, adjacent to Central Texas Market Place (Topgolf, Cinemark, Main Event) and the Cottonwood Creek Golf Course, with Baylor University just minutes away."},{icon:S,title:"Vertically Integrated BTR Sponsor",body:"Sponsored by Red River Development (Trulo Homes), a vertically integrated BTR developer-operator with $599M AUM, 1,903 homes managed, $169M equity invested, and $1.5B+ ground-up development experience across six Trulo communities."},{icon:f,title:"LV5 Invests Alongside You",body:"Red River Development is the developer and sponsor; LV5 Capital co-invests and aggregates accredited investors through an LV5-managed SPV. Jeff Dulmage leads the LV5 side — LV5 does not solely own or c

1ontrol the project."}],p=[{q:"Who is the sponsor and developer of Cottonwood Creek?",a:"Trulo Homes Cottonwood Creek is developed and sponsored by Red River Development (“RRD”), a vertically integrated build-to-rent developer-operator under the Trulo Homes brand. RRD is led by Managing Partners Ryan Watts, Steven Watts, and Jay Dempsey, with Corbin Cross as Partner/CFO. Their track record includes $599M AUM, 1,903 homes managed, $169M equity invested, and $1.5B+ of ground-up development experience across six Trulo communities. LV5 Capital co-invests alongside its investors and does not solely own or control the project."},{q:"How is LV5 Capital involved if Red River Development is the sponsor?",a:"Red River Development is the developer and sponsor of the project. LV5 Capital co-invests and aggregates accredited investors through an LV5-managed SPV (a fund-of-funds) that invests into the Red River deal. Jeff Dulmage, an LV5 Managing Partner, leads the LV5 side and provides investors with alignment and oversight. LV5 does not solely own or control the project — this is a partnership."},{q:"What are the SPV fees?",a:"Transparency is a feature here. LV5 investors participate through an LV5-managed SPV with the following terms: an 8% preferred return, then a 90/10 split thereafter; a 2% upfront due-diligence fee on the raise; a 0.5% annual fund management fee; and SPV administration costs of $5,000 upfront plus $2,000 per year. These are disclosed up front so you can evaluate the full economics."},{q:"Who can invest and what is the minimum?",a:"This was a Regulation D 506(c) offering for accredited investors only, with a minimum investment of $100,000. LV5's allocation is now fully funded and closed to new commitments. Investing in real estate and ground-up development involves substantial risk, including possible loss of principal. Please review all offering documents and consult your own financial, tax, and legal advisors before investing."},{q:"What are the projected returns and when does cash flow begin?",a:"The business plan targets a 24.5% IRR, a 2.01x equity multiple, and an 8.8% cash-on-cash return beginning around month 30 (post-lease-up), with a 5.50% projected exit cap rate and an 8.2% trended / 7.5% untrended yield on cost. A ~16.8% BTR rent premium versus traditional multifamily is targeted (Zonda market study, May 2025). All figures are forward-looking projections, not guarantees, and cash flow is projected to begin only around month 30. Actual results may differ materially."},{q:"What are the construction risks and the timeline?",a:"Cottonwood Creek is a ground-up development, which involves construction risk — including potential cost overruns, delays, and lease-up timing. The plan calls for approximately 23 months of construction and a target hold of roughly 43 months. Because this is new construction, distributions are projected to begin only around month 30, after lease-up. The capital stack is 65% construction debt ($36.2M, Enterprise Bank & Trust term sheet, interest-only initial period) and 35% equity ($19.52M) at a conservative 65% loan-to-cost, with sponsor and LP equity funded pari-passu before loan advances."},{q:"Will there be depreciation / cost-segregation benefits?",a:"A cost-segregation study is planned for 2027, with estimates to be shared with investors as they become available. As always, consult your own tax advisor regarding the specific impact of depreciation and cost-segregation on your situation."},{q:"Can I still invest in Cottonwood Creek?",a:`No. LV5’s allocation in this round is fully funded and closed to new commitments. Text the word “WAITLIST” to ${i} or schedule a call with the LV5 Capital team, and we’ll add you to the list for future LV5 offerings.`}];function Z(){const v={"@context":"https://schema.org","@type":"Article",headline:"Trulo Homes Cottonwood Creek — 206-Unit Waco, TX Build-to-Rent Investment (Fully Funded)",description:"Trulo Homes Cottonwood Creek is a 206-unit ground-up build-to-rent community in Waco, TX, developed by Red River Development. LV5 Capital co-invested through an LV5-managed SPV, and LV5's investor allocation is fully funded.",image:"https://lv5capital.com/cottonwood-creek/og.jpg",author:{"@type":"Organization",name:"LV5 Capital",url:"https://lv5capital.com"},publisher:{"@type":"Organization",name:"LV5 Capital",logo:{"@type":"ImageObject",url:"https://storage.googleapis.com/msgsndr/ZOeUisEhjfzl73OOLLPm/media/6928b2b0362bfeb1e4ba8691.webp"}},datePublished:"2026-07-14",dateModified:"2026-09-28"},y={"@context":"https://schema.org","@type":"FAQPage",mainEntity:p.map(t=>

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1new commitments."]})]}),e.jsx("p",{className:"text-white/40 text-xs mt-4 text-center max-w-2xl mx-auto",children:"The LV5 allocation was offered through an LV5-managed SPV that invests into the Red River deal. 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Sponsor and LP equity are funded pari-passu before construction loan advances."})]})}),e.jsx("section",{className:"py-20 bg-background","data-testid":"section-returns",children:e.jsxs("div",{className:"max-w-7xl mx-auto px-6 lg:px-8",children:[e.jsxs("div",{className:"text-center mb-12",children:[e.jsx("h2",{className:"font-heading text-3xl md:text-4xl font-bold text-foreground mb-3",children:"Projected Returns"}),e.jsx("p",{className:"text-muted-foreground font-body max-w-2xl mx-auto",children:"Targeted performance over the projected hold period. These are forward-looking projections, not guarantees. 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All return figures are projections and are not guaranteed."})]})}),e.jsx("section",{className:"py-20 bg-muted/30","data-testid":"section-gallery",children:e.jsxs("div",{className:"max-w-7xl mx-auto px-6 lg:px-8",children:[e.jsxs("div",{className:"text-center mb-12",children:[e.jsx("h2",{className:"font-heading text-3xl md:text-4xl font-bold text-foreground mb-3",children:"Community Gallery"}),e.jsxs("p",{className:"text-muted-foreground font-body max-w-2xl mx-auto",children:["Trulo Homes Cottonwood Creek — ","Waco, Texas","."]})]}),e.jsx("div",{className:"grid grid-cols-2 md:grid-cols-3 gap-4",children:D.map((t,o)=>e.jsx("div",{className:`overflow-hidden rounded-lg border border-border ${o===0?"col-span-2 md:col-span-2 md:row-span-2":""}`,"data-testid":`img-gallery-${o}`,children:e.jsx("img",{src:t.src,alt:t.alt,loading:"lazy",decoding:"async",className:"w-full h-full object-cover aspect-[4/3] hover:scale-105 transition-transform duration-500"})},t.src))}),e.jsx("p",{className:"text-muted-foreground text-xs mt-6 text-center max-w-3xl mx-auto","data-testid":"text-gallery-note",children:"Cottonwood Creek is a ground-up development that is not yet built. Images shown are architectural renderings and photographs of existing Trulo Homes communities (Trulo Jenks, OK) shown for representative purposes only — they are not the finished Waco property."})]})}),e.jsx("section",{className:"py-20 bg-brand-haiti","data-testid":"section-partnership",children:e.jsxs("div",{className:"max-w-4xl mx-auto px-6 lg:px-8",children:[e.jsxs("div",{className:"flex items-center gap-3 mb-6",children:[e.jsx(f,{className:"w-8 h-8 text-primary"}),e.jsx("h2",{className:"font-heading text-3xl md:text-4xl font-bold text-white",children:"A Red River Development Partnership"})]}),e.jsxs("div",{className:"space-y-4 text-white/80 font-body leading-relaxed",children:[e.jsxs("p",{children:["Cottonwood Creek is"," ",e.jsx("span",{className:"text-white font-semibold",children:"developed and sponsored by Red River Development (“RRD”)"}),", a vertically integrated build-to-rent developer-operator under the Trulo Homes brand. RRD is led by Managing Partners Ryan Watts, Steven Watts, and Jay Dempsey, with Corbin Cross as Partner/CFO. Their track record includes $599M AUM, 1,903 homes managed, $169M equity invested, and $1.5B+ of ground-up development experience across six Trulo communities — Jenks, OK (stabilized); Quail Village, OKC and Twin Creeks, Kansas City (leasing up); and Tara Ridge (Bentonville, AR), Bridle Creek (Whitestown, IN), and Stone Ridge (Centerville, OH) (under construction)."]}),e.jsxs("p",{children:[e.jsx("span",{className:"text-white font-semibold",children:"LV5 Capital co-invests in this deal"})," and aggregates accredited investors through an LV5-managed SPV (a fund-of-funds) that invests into the Red River deal. LV5 does not solely own or c

1ontrol the project — this is a partnership."," ",e.jsx("span",{className:"text-white font-semibold",children:"Jeff Dulmage, an LV5 Managing Partner, leads the LV5 side"}),", providing LV5 investors with alignment and oversight."]})]}),e.jsx("div",{className:"mt-8 grid sm:grid-cols-3 gap-4",children:[{value:"$599M",label:"Assets under management"},{value:"1,903",label:"Homes managed"},{value:"$1.5B+",label:"Ground-up development experience"}].map(t=>e.jsxs("div",{className:"rounded-lg bg-white/5 border border-white/10 p-5 text-center","data-testid":`stat-rrd-${t.label.toLowerCase().replace(/[^a-z0-9]+/g,"-")}`,children:[e.jsx("div",{className:"text-2xl font-bold text-primary",children:t.value}),e.jsx("div",{className:"text-white/60 text-sm",children:t.label})]},t.label))})]})}),e.jsx("section",{className:"py-20 bg-background","data-testid":"section-why-waco",children:e.jsxs("div",{className:"max-w-4xl mx-auto px-6 lg:px-8 text-center",children:[e.jsx("h2",{className:"font-heading text-3xl md:text-4xl font-bold text-foreground mb-4",children:"Why Waco, Texas"}),e.jsx("p",{className:"text-muted-foreground font-body leading-relaxed mb-6",children:"South Waco sits along the I-35 corridor between Dallas–Fort Worth and Austin, one of the nation's busiest growth spines. The site at I-35 & Bagby Avenue is adjacent to Central Texas Market Place (Topgolf, Cinemark, Main Event) and the Cottonwood Creek Golf Course, with Baylor University just minutes away. Build-to-rent demand — driven by renters seeking single-family living without the responsibilities of ownership — supports a targeted rent premium versus traditional multifamily."}),e.jsxs("div",{className:"flex flex-wrap justify-center gap-4",children:[e.jsx(s,{asChild:!0,variant:"outline","data-testid":"button-request-package-waco",children:e.jsx(m,{href:"/contact",onClick:()=>a.trackConversionClick("request_deal_package","market_section","cottonwood_creek"),children:"Request the Deal Package"})}),e.jsx(s,{asChild:!0,variant:"outline","data-testid":"link-schedule-call-waco",children:e.jsx("a",{href:x,target:"_blank",rel:"noopener noreferrer",onClick:()=>a.trackConversionClick("schedule_call","market_section","cottonwood_creek"),children:"Schedule a Call with Jeff"})})]})]})}),e.jsx("section",{className:"py-20 bg-muted/30","data-testid":"section-faq",children:e.jsxs("div",{className:"max-w-3xl mx-auto px-6 lg:px-8",children:[e.jsx("h2",{className:"font-heading text-3xl md:text-4xl font-bold text-foreground mb-10 text-center",children:"Frequently Asked Questions"}),e.jsx("div",{className:"space-y-6",children:p.map((t,o)=>e.jsxs("div",{className:"rounded-lg bg-card border border-border p-6","data-testid":`faq-${o}`,children:[e.jsxs("h3",{className:"font-heading text-lg font-semibold text-foreground mb-2 flex items-start gap-2",children:[e.jsx(u,{className:"w-5 h-5 text-primary flex-shrink-0 mt-0.5"}),t.q]}),e.jsx("p",{className:"text-muted-foreground font-body leading-relaxed pl-7",children:t.a})]},o))})]})}),e.jsx("section",{className:"py-20 bg-brand-haiti","data-testid":"section-cta",children:e.jsxs("div",{className:"max-w-3xl mx-auto px-6 lg:px-8 text-center",children:[e.jsx("h2",{className:"font-heading text-3xl md:text-4xl font-bold text-white mb-4",children:"Join the Waitlist for Future LV5 Offerings"}),e.jsx("p",{className:"text-white/70 font-body mb-8 max-w-xl mx-auto",children:"This Cottonwood Creek round is fully funded and closed to new commitments. Join the waitlist and you'll be first to hear when the next LV5 allocation opens."}),e.jsx("div",{className:"flex justify-center mb-8",children:e.jsx(s,{asChild:!0,size:"lg",className:"bg-primary hover:bg-primary/90 text-white font-semibold","data-testid":"button-text-invest-cta",children:e.jsxs("a",{href:l,onClick:()=>a.trackConversionClick("text_invest","final_cta","cottonwood_creek"),children:[e.jsx(r,{className:"w-5 h-5 mr-2"}),"Text “WAITLIST” to ",i]})})}),e.jsxs("p",{className:"text-white/80 font-body mb-3",children:["Want to discuss the numbers?"," ",e.jsx("a",{href:x,onClick:()=>a.trackConversionClick("schedule_call","final_cta","cottonwood_creek"),target:"_blank",rel:"noopener noreferrer",className:"text-primary font-semibold underline underline-offset-4 hover:text-primary/80","data-testid":"link-schedule-call-cta",children:"Schedule a 15-minute call with Jeff here."})]}),e.jsxs("p",{className:"text-white/80 font-body",children:["Or simply send us an email!"," ",e.jsx("a",{href:A,onClick:()=>a.trackConversionClick("email_contact","final_cta","cottonwood_creek"),className:"text-primary font-semibold underline underline-offset-4 hover:text-primary/80","data-testid":"link-email-cta",children:P})]})]})}),e.jsx("section",{className:"py-12 bg-background border-t border-border","data-testid":"section-disclaimer",children:e.jsx("div",{className:"max-w-4xl mx-auto px-6 lg:px-8",children:e.jsxs("p",{className:"text-muted-foreground text-xs font-body leading-relaxed",children:[e.jsx("strong",{className:"text-foreground",children:"Important disclosures."})," This page is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security. Any offer is made solely through confidential offering documents provided to eligible, accredited investors under Regulation D Rule 506(c). Trulo Homes Cottonwood Creek is developed and sponsored by Red River Development; LV5 Capital is a co-investment partner that aggregates accredited investors through an LV5-managed SPV and does not solely own or c

1ontrol the project. This is a ground-up development, which involves substantial construction risk — including cost overruns, delays, financing risk, and lease-up risk — and projected cash flow is not expected to begin until approximately month 30, after lease-up. All figures — including total project cost, the capital stack, and the projected 24.5% IRR, 2.01x equity multiple, 8.8% cash-on-cash return, 5.50% exit cap rate, 8.2% trended / 7.5% untrended yield on cost, and ~16.8% BTR rent premium — are estimates and forward-looking projections based on assumptions that may not materialize. They are not guarantees of future performance. LV5-managed SPV terms include an 8% preferred return then a 90/10 split, a 2% upfront due-diligence fee, a 0.5% annual fund management fee, and SPV administration costs ($5,000 upfront plus $2,000 per year). Real estate investments involve substantial risk, including the possible loss of your entire investment, illiquidity, and lack of diversification. Past performance does not guarantee future results. Consult your own financial, tax, and legal advisors before investing."]})})}),e.jsx("div",{className:"fixed bottom-0 left-0 right-0 z-40 bg-brand-haiti/95 glass-effect border-t border-white/10 p-3 sm:hidden","data-testid":"bar-sticky-cta",children:e.jsx(s,{asChild:!0,className:"w-full bg-primary hover:bg-primary/90 text-white font-semibold","data-testid":"button-text-invest-sticky",children:e.jsxs("a",{href:l,onClick:()=>a.trackConversionClick("text_invest","mobile_sticky","cottonwood_creek"),children:[e.jsx(r,{className:"w-5 h-5 mr-2"}),"Text “WAITLIST” to ",i]})})}),e.jsx(C,{})]})}export{Z as default};