Previous Investment Opportunity:

Glenmont Abbey Village

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 (learn more)
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 will be located in several buildings around the site.

Apartments: All apartment homes and common area spaces of Glenmont Abbey Village are intelligently designed to meet the needs of its active adult residents.

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

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. The amenities in the clubhouse will 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