BH BRADLEY 2013 PROJECT SUMMARY
BH New Opportunity Fund 2013, L.P. has been formed to acquire, through investments in Operating Companies, garden‑level, multi‑family apartment communities and special purpose properties for condominium conversion. The Partnership has established the following criteria for the type of Properties to be acquired:
Type: Garden Level or Midrise
Size: Between 100 and 1,000 Apartment Units
Location: Continental United States, primarily in the South and Southeast
Cash available for Distribution will be distributed semi-annually in the following order of priority:
First, pro rata, to the “Class A” Limited Partners in an amount sufficient to provide the Partners with an 8% priority return on their investment.
Second, to the “Class B” Limited Partners, the next 2% of distributions after the “Class A” Limited Partners have received their 8% priority return.
Third, all distributions remaining will be distributed 50% to the “Class A” Limited Partners and 50% to the “Class B” Limited Partners. Any distribution to the “Class A” Limited Partners which provides them with a return of over 10% will be allocated to reduce their capital balance.