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Glenmont Abbey Village

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Offering Start Date: March, 2014
Location: Bethlehem, NY
Development Type: 148 Unit Age Restricted, 55+ Class A Senior Housing Rental Community
Total Raise: $4,850,000
Investment Units: $50,000 (97 available)
Minimum Investment: $25,000
Preferred Return: 8%
Projected IRR: Provided in offering materials
Target Investment Period: 7 years
Issuer: Van Wies, LLC
Developer: United Development Corporation
Operator: United Plus Property Management, LLC
Fully Funded January 2, 2015

Property Sold and Investors paid final distributions and sales proceeds June 17, 2019 (2 years earlier than projected).

Overview

Glenmont Abbey Village is a senior residential property consisting of 148 apartments with nine unique floor plans. 68 are two-bedroom units and 80 are one-bedroom units. All units have either patios or balconies. The units are contained in two four-story buildings with ample surface parking. In addition, 56 garage units are located in several buildings around the site. All apartment homes and common area spaces of Glenmont Abbey Village are intelligently designed to meet the needs of its active adult residents. 

 

A state of the art community clubhouse is available to all residents for personal use. The clubhouse acts as the “hub” of the Glenmont Abbey Village Community. Residents utilize it on a daily basis to meet friends, socialize, and take advantage of educational programs and activities.

Apartment features include:

  • Spacious, open floor plans heat, hot water, water, sewer, and trash included

  • Fully-applianced kitchen with laminate wood flooring

  • Ceramic tile bathrooms

  • Granite Countertops

  • Washer and dryer

  • Cable and internet ready

  • Patio or balcony

  • 24-hour emergency call system

  • Pet-friendly

  • Covered outdoor community deck at the second floor elevator lobby area

  •  Private garages with storage space available

Community Features include:

  • Great Room for Socializing

  • Fully-equipped community kitchen and pantry

  • State-of-the-art fitness center

  • Media center

  • Salon

  • Game room

  • Library

  • Arts and crafts room

  • Indoor heated pool

  • On-site management, maintenance staff, and courtesy officers

DISCLAIMER: UISRealEstate.com is a website owned and operated by United Investor Services Corp. (UISC). UISC is not a registered broker, dealer, registered investment advisor, investment manager or registered funding portal. This website contains a preliminary summary of the purpose and principal business terms of the investments offered by certain investment vehicles (“Issuers”) who are related to UISC. This summary information does not purport to be complete and is qualified in its entirety by reference to the more detailed discussion contained in the actual text of the offering materials and definitive documentation (collectively, “Offering Materials”) for each Issuer regarding each such investment which will be made available upon request after completion and submission of the request form found under “Get Started”. Further, the summaries presented on the UISC website do not constitute an offer to sell or a solicitation of an offer to make an investment herein. No such offer or solicitation will be made prior to the delivery of the Offering Materials relating to such investment. The information on this website does not constitute an offer of, or the solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful.


The securities offered pursuant to the Offering Materials of each Issuer are available only to “Accredited Investors” – generally, natural persons must have a net worth of over $1 million (exclusive of residence) or income in excess of $200,000 individually or $300,000 jointly with a spouse. See “What is an Accredited Investor” found under “Get Started” for additional information. Each prospective investor should be aware that his or her status as an Accredited Investor must be verified by means acceptable to the Issuer which are described in more detail in the Offering Materials and may include (i) a certification by a registered broker-dealer, registered investment adviser, certified public accountant or licensed attorney, (ii) copies of tax returns, Form W-2, Form 1099 and similar reports, together with a representation relating to current income, and (iii) copies of bank statements, brokerage statements, certificates of deposit, tax assessments and appraisal reports relating to assets and a consumer report relating to liabilities. Only investors who provide acceptable verification of their status as “Accredited Investors” will be eligible to acquire make an investment in any Issuer.

Before making an investment decision with respect to any offering, potential investors are advised to carefully read the Offering Materials to be provided and to consult with their tax, legal and financial advisors. UISC does not give investment advice or recommendations regarding any offering posted on the website.

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