Confidential · Accredited Investors Only

Build-to-Rent
Townhome
Community

A purpose-built 184-unit BTR community on 20.6 acres in Collin County, TX — one of the fastest-growing counties in the United States.

$31M
Total Dev. Cost
184
BTR Units
25.21%
Projected IRR
~60%
Total Return / 30 Mo.
$7M
Equity Raise
20.6 ac
Site Area
Investment Highlights

Why Invest in
Preserve at Princeton

A high-conviction BTR development in the DFW market with institutional-grade structure and compelling risk-adjusted returns.

#1
Prime Location
Collin County, TX — #1 fastest-growing county in the US. Princeton ISD. Proximity to McKinney and Frisco employment hubs.
25%
Compelling Returns
25.21% projected annualized IRR (base case). $100K investment projected to return ~$175,426 over ~30 months.
5–6%
Institutional Exit
Stabilized BTR assets actively acquired by institutional capital at 5–6% cap rates across DFW. Multiple exit paths available.
30 Mo.
Defined Hold Period
Clear 30-month execution timeline from land close (Apr 2026) to full stabilization (Oct 2028) with phased delivery.
Development Timeline

30-Month Development Schedule

Apr 2026
Land Close
Jan 2027
Site Work Begins
Apr 2027
Vertical Start
Mar 2028
Phase A CO
May 2028
Phase B CO
Aug 2028
Phase C CO
Oct 2028
Full Stabilization
Financial Summary

Investor Return Profile

Conservative underwriting across three scenarios. Base case assumes $1,850–$2,150/mo rents at 95% occupancy.

25.21%
Projected IRR
(Base Case)
~60%
Total Return
~30 Months
$175K
Returned per
$100K Invested
1.75x
Equity Multiple
(Base Case)
Scenario Capital Returned Net Profit IRR
Best Case $209,258 $109,258 34.36%
Expected Case ★ $175,426 $75,426 25.21%
Worst Case $133,575 $33,575 12.28%

Per $100,000 investment (1% preferred share). Returns subject to execution, market conditions, and construction costs.

Capital Structure

$31M Capital Stack

22.6% Equity
77.4% Senior Debt @ 9%
$7M Equity (Accredited Investors) $24M Construction Loan
Use of Funds
Land & Acquisition
9.7%
Infrastructure / Site Dev.
18.5%
Vertical Construction
61.5%
Financing Costs (9%)
8.1%
Overhead & G&A
2.2%
Investment Structure

Investors acquire Preferred Common Stock in The Preserve at Princeton, Inc. (Texas Corporation). 40 total shares at $100,000 per share. Priority return of capital before sponsor participation. Independent CPA oversight with quarterly reporting.

Market Overview

Why DFW, Why Now

Dallas–Fort Worth leads the nation in population growth, job creation, and BTR demand — a confluence of tailwinds supporting this investment.

#1
U.S. Real Estate Market
PwC Emerging Trends · 2025 Ranking
7.1M+
Metro Population
US Census Bureau · Fastest-growing US MSA
130K+
Net New Residents Annually
DFW Regional Planning
$85B+
Annual GDP Growth
Dallas Fed · Corporate Relocations
No State
Income Tax
Business-Friendly Environment
Texas Comptroller
2%
Rental Vacancy Rate
CoStar 2025 · DFW Suburban BTR
Princeton, TX Submarket

The Right Place at the Right Time

22%+ YoY population growth. Median home prices below McKinney ($420K) and Frisco ($580K), driving renter demand. Competing BTR communities achieving $1,800–$2,750/mo rents at 95%+ occupancy.

22%+
YoY Population Growth
95%+
Occupancy at Comps
$1,980
Blended Avg Target Rent
30 min
To McKinney/Plano
Site & Location

2213 County Road 447
Princeton, TX 75407

20.6 acres in Collin County with City-approved concept plan, phased delivery, and direct SH-380 access.

📍
Collin County, TX
Located within Princeton city limits, Collin County — the #1 fastest-growing county in the United States by population percentage growth.
🏫
Princeton ISD
Highly-rated school district attracting families seeking quality suburban living. A primary demand driver for BTR tenants with children.
🛣️
SH-380 Direct Access
30-minute drive to McKinney, Allen, and Plano employment corridors. SH 380 provides direct access to major retail and employment hubs.
🏛️
City-Approved Concept Plan
Zoning and entitlement risk substantially mitigated. Concept plan approved by the City of Princeton prior to investor close. 184 lots individually platted.
🌊
Lake Lavon Proximity
Adjacent proximity to Lake Lavon and extensive outdoor recreation amenities — a lifestyle draw for target demographic of families and professionals.
🏗️
20.6 Acres · Phased Delivery
Phase A (62 units) → Phase B (60 units) → Phase C (62 units). Detention pond approved. 60ft setback from County Road 447 in compliance.
📍 2213 County Road 447 · Princeton, TX · Collin County
Coordinates
33.1429° N, 96.5052° W
County
Collin County, Texas
Site Area
20.6 Acres
Zoning
City-Approved Concept Plan
Build-to-Rent Market Thesis

Why BTR, Why Now

Structural undersupply, affordability constraints, and institutional capital demand have converged to create a generational BTR opportunity in DFW.

Structural Undersupply
The U.S. is short an estimated 3.8M housing units. DFW alone adds 100K+ residents annually, consistently outpacing new housing supply.
Affordability Shift
With median DFW home prices exceeding $380K and mortgage rates at 6.5–7%, an estimated 45% of DFW residents cannot qualify for a home purchase — pushing demand toward BTR.
Renter Preference Trend
BTR units achieve 12–18-month average tenancies vs. 6–8 months for apartments. Lower turnover equals lower management costs and more stable NOI.
Institutional Capital Demand
REITs, PE funds, and family offices are actively acquiring stabilized BTR portfolios in DFW at 5–6% cap rates, providing multiple institutional exit options.
Lower Volatility Profile
BTR assets demonstrated greater NOI stability during market downturns vs. traditional apartments due to longer leases and lower concession requirements.
DFW Comp Validation
Oxenfree at Princeton: $1,799–$2,756/mo at 95%+ occupancy. Avilla Towne Center: $1,301–$4,003/mo. Active market rents support our underwriting assumptions.
The Developer

X-Forge Group

"A fully integrated DFW developer with deep local market knowledge and a proven land-to-lease platform."

X-Forge Group brings disciplined execution to every phase of the development lifecycle — from land acquisition and municipal entitlement through construction management and asset stabilization. No reliance on third-party developers. Every function handled in-house.

With established municipal relationships across Collin, Denton, and Dallas counties, X-Forge carries the credibility and track record needed to execute a project of this scale on schedule and on budget.

Land Acquisition Entitlement Construction Management Asset Management Licensed in Texas
Capital Partner: Anchorstone Capital  ·  Legal Counsel: BOLD Legal PLLC  ·  Issuing Entity: The Preserve at Princeton, Inc. (Texas Corporation)
25+
Communities Delivered in DFW
3
County Relationships
(Collin, Denton, Dallas)
100%
Vertical Integration — No 3rd-Party Developers
506(b)
Reg D Exempt Offering — Accredited Investors
Governance & Oversight

Independent CPA oversight with quarterly investor reporting. Full financial model access granted upon NDA execution. Investor funds held in dedicated project escrow throughout the development period.

Risk Management

Key Risks & Mitigants

Each material risk has been identified and actively mitigated through structural protections, conservative underwriting, and experienced execution.

Entitlement Risk
Concept plan has been approved by the City of Princeton. Zoning and entitlement risk substantially mitigated prior to investor close.
Construction Cost Risk
Pro forma built on conservative DFW market benchmarks. 10% infra contingency + 20% vertical variance buffer. GC contract with fixed-price provisions.
Market / Rent Risk
Target rents of $1,850–$2,150/mo supported by active comparable communities achieving $1,799–$2,756/mo at 95%+ occupancy within 3 miles.
Financing Risk
Construction loan commitment to be secured prior to first equity draw. 77% LTC within institutional lender parameters for DFW BTR projects.
Exit / Liquidity Risk
Multiple exit paths: institutional BTR sale, refinance-and-hold, or bulk disposition. Strong and sustained institutional demand for stabilized BTR in DFW.
Oversight & Reporting
Independent CPA oversight. Quarterly investor reporting. Funds held in dedicated project escrow. Full financials available to investors post-NDA execution.
Exit Strategy

Multiple Exit Paths
Supported by Active Market Liquidity

Three clearly defined exit scenarios, each supported by active DFW BTR market conditions and institutional buyer demand.

01
Institutional BTR Sale
Primary Exit — Oct 2028
Following completion and lease-up, the stabilized asset is marketed to institutional BTR buyers — REITs, PE funds, and family offices actively acquiring DFW communities. At a 5.5% cap rate on stabilized NOI of ~$2.79M, gross valuation exceeds $50M.
02
Refinance & Hold
Alternative — Post-Stabilization
Post-stabilization, a DSCR or agency permanent loan can return a significant portion of investor capital while retaining ownership and long-term cash flow exposure. Suitable if interest rate environment improves by Oct 2028.
03
Bulk Portfolio Sale
Opportunistic
Sale of all 184 units as individual or bulk lots to a single residential buyer or BTR operator. For-sale comps support pricing of $230–$241/SF in a downside scenario, generating $38.8M–$42.4M gross revenue.
Ready to Invest

How to Invest

The Preserve at Princeton offers accredited investors exposure to a high-growth DFW submarket through a resilient BTR asset class. 40 total interests available at $100,000 minimum.

01
Execute NDA
Receive full financial model, site plan, and legal documents. Review the full pro forma with your advisors.
02
Review PPM
Review the Confidential Private Placement Memorandum with legal and financial counsel. All terms disclosed in full.
03
Reserve Interest
Submit subscription agreement and $100,000 minimum. Each $100K entitles you to 1% preferred common stock ownership.
04
Close & Fund
Wire transfer to project escrow. Receive confirmation of stock ownership in The Preserve at Princeton, Inc.

CONFIDENTIAL — FOR ACCREDITED INVESTORS ONLY. This document does not constitute an offer to purchase or issue interests. Any offer or solicitation will only be made pursuant to a Confidential Private Placement Memorandum (PPM) and relevant subscription documents. Financial projections are based on hypothetical performance and assumptions. No representation is made that actual returns will achieve the results portrayed. Past performance is not indicative of future results. Investment is speculative and involves a high degree of risk including construction cost overruns, entitlement delays, interest rate changes, rental market softening, and illiquidity. There is no secondary market for interests. Securities offered pursuant to Regulation D, Rule 506(b) of the Securities Act of 1933. Available only to accredited investors as defined under Rule 501 of Regulation D. Consult your legal, tax, and financial advisors before making any investment decision.