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TEMPLE I isn't accepting new investments

TEMPLE I’s deadline was October 21, 2020

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TEMPLE I

Invest in a smart-tech student housing development next to Temple University
Black Founders Real Estate Residential Real Estate B2C Equity Interest Purchase Agreement (IPA)
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Featured image of TEMPLE I
Sold out
$360,000
Maximum funding goal reached
1,272
Investors
Successfully funded and closed on October 21, 2020.
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Closed on October 21, 2020. Information may not be up-to-date. Campaign closed on October 21, 2020. Information displayed may not be up-to-date.

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Temple I, LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
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Hear from some of the 1,272 investors in TEMPLE I


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The Project

TEMPLE I is the Phase I development of a 100-bed tech-powered student housing development by Temple University being developed by NYCE Companies, Inc. Phase one is 10,000 square foot, 17-bedrooms/coliving units in the North Central Philadelphia area, directly across Temple University’s football training field and two blocks campus. TEMPLE I will include a total of 4 bi-level coliving apartments, with four coliving units/bedrooms in each. Tenants will lease individual bedrooms within the apartments.

The $79 Story...

Back in July of 2014, I arrived in NYC with no SSN, credit, bank account or any network. Just $79 in my PayPal account, making “ends meet” ($500 every three weeks) as a radio host and writer.

Without boring you with trivial boo-hoo details, fast forward to April 2016, I did my first deal, it appraised north of $1 million shortly after and things went from there.

As of today, we’ve helped 800+ first-time investors of color own a piece of prime real estate.

Because of how I started, we thought it would be fitting to bring it all full circle and help others kickstart their wealth-building journey the same way I did mine: with $79.

OK, back to the property...



The first smart-home powered building by Temple University, Forbes called it “the Millennial’s wet dream.” Why, we’re not sure. We do know this, however: We’ve specifically designed and built it for the end user in mind.

AI-powered VIP concierge. 24/7 iPhone Security. esports lounge and roommate-matching technology—powered by Nooklyn. (New York Times called it the “Match.com for Roommates. Seriously.)

PROGRESS: The property was acquired by NYCE in 2018 and the development is expected to be completed in the 4th quarter of 2020.

Press

Development Partners

TEMPLE I is run by a seasoned team of local and international operators. We’re partnering with PBDC as project manager and joint venture partner, a Philadelphia group with over $20 million in projects managed and developed in the Philadelphia metro area. In addition, co-founder is a seasoned real estate developer and former CEO of HTH Kitchen Esbjerg, a leading luxury kitchen/bath retail brand.

The Location

2200 North 11th Street, Philadelphia, PA

TEMPLE I is located right smack in the middle of Temple University’s campus, only two blocks from the class room. In fact, directly from your window, you’ll get a sneak peak of Temple’s football team.

Campus offers an urban experience with many parks, bars, restaurants and coffee shops—all in the shadow of Temple University and just one mile from Fishtown, the “hottest neighborhood in America,” per Forbes. (Did we mention that?)

A five-minute walk to class, students living at TEMPLE I enjoy easy access to Temple University and with the Temple U train station just two blocks away, downtown Philadelphia is less than a 10 minutes away.

Outside of campus life, the property is three blocks from the train that takes you directly to 30th Street Station, Philadelphia’s main transportation hub and Amtrak’s third-busiest station behind Union Station in DC and Penn Station in New York.


Booming Student-Housing Market

Temple University is one of the hottest real estate markets in the country. Sitting in a historic, gentrifying North Philadelphia neighborhood, Temple University has set application and enrollment records every year since 2013—creating insane demand for quality student housing product.

More than 88% of Temple students live off campus and occupancy in North Central Philadelphia was over 95% with the vast majority living in old townhouses. The following table outlines the set of comparable properties that we have used to base our rental assumptions:


The Offering

 We are offering equity interests in the TEMPLE I development project. Investors will receive an 8% preferred return. In addition to having a piece of the project, investors will be able to track their investment in our upcoming app, set to launch in Q4.

Financial Overview

We acquired the TEMPLE I parcel on March 12, 2018, for $113,000 including closing costs. To date, we have completed approximately half of the construction and anticipate additional costs of $600,000. To date, NYCE has been funding the project—there is no outstanding debt on the property.

Operating Pro Forma

Upon completion, we intend to operate Temple I as a student-housing co-living property where students rent individual bedrooms. The chart below provides our estimates for operating the property.

Investor Returns

Investors will receive returns from cash flow derived from our rental operations as well as upon the sale of the property. We are estimating that investors will receive a 12%-15% annualized IRR. The following chart outlines the estimated returns based on a $1,000 investment at the 8% preferred return.

Our Mission

Millennials of color—women in particular—have been dealt one of the worst hand in recent history, inheriting a wealth gap that will take 228 years to close. The main driver behind this wealth inequality is the fact that Millennial minorities don’t own real estate. We want to help ERASE this troubling trend.

According to Duke University, real estate/home ownership would narrow the racial wealth gap by 31%. So this is why we launched a mission to help marginalized groups become first-time investors

Since April, over 800 first-time investors of color have invested $727K+ in our real estate portfolio. Our goal is to bring on over 100,000 Millennial moguls to co-own the real estate with us and collectively build generational wealth.

Press


Property details


Name
TEMPLE I
Address
2200 North 11th Street
Philadelphia, PA
Type
Co-living
Investment profile
New development
Year built
2020
The property was built (or is expected to be completed) in 2020.
Total capitalization
$1,525,000
The total cost of the property or project.
Anticipated hold period
7-10 years
The amount of time the property will be held before being sold.
Targeted IRR
12–15%
IRR (Internal Rate of Return) is the annual rate of growth an investment is expected to generate. Note: this is an estimate.

Deal terms


Minimum investment

$250

The smallest investment amount that TEMPLE I is accepting.
Learn more

Funding goal

$100K – $360K

TEMPLE I needs to raise $100K before the deadline. The maximum amount TEMPLE I is willing to raise is $100K – $360K.
Learn more

Deadline
TEMPLE I needs to reach their minimum funding goal before the deadline (). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd IPA

Crowd IPA (Interests Purchase Agreement) is a simple agreement to acquire membership units of a limited liability company.
Learn more

Price per security

$1

The price of each membership unit.
Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Temple I, LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov

Why others invested

See all reviews (0) See all (0)

I have joined up with Phil. He breaks everything down well about real estate as well as other investments. This is my second time investing with Phil and I'm looking forward to work with him on other upcoming real estate investments in the near future.

Profile picture of Edward Flounoy Jr.
Edward Flounoy Jr.
Active investor
almost 2 years ago

I invested in TEMPLE I because providing students with a safe, clean, and affordable housing option is extremely important for the future of our economy. Without these things, students transfer, fail out, or transfer to a place with better options. Temple is an amazing school with a rich history and the students deserve this.

Profile picture of Markia Brown
Markia Brown
Investor
almost 2 years ago

Number one. I have an emotional alliance to Temple University, being that I'm an alumni. I also believe in the power of real estate and recognize that real estate is one arena where wealth is built. I was also impressed with the founder of the company and energized about a black professionals who have a legit investment opportunity.

Profile picture of Omar  Branch
Omar Branch
Active investor
almost 2 years ago

About NYCE

Legal Name
Temple I, LLC
Founded
Jun 2020
Form
Pennsylvania LLC
Employees
0
Website
nycegroup.co
Social Media
Headquarters
Google Map location of of TEMPLE I
85 Broad St 27 , NEW YORK, NY
Headquarters
85 Broad St, 27, NEW YORK, NY, United States 10004

NYCE Team
Everyone helping build NYCE, not limited to employees

Profile picture of Philip Michael
Philip Michael
Founder, NYCE
Featured in Superheroes · Read
Philip is an award-winning entrepreneur, author and real estate developer. He’s built an eight-figure development portfolio since 2017.
Profile picture of Martin Braithwaite
Martin Braithwaite
Co-founder, NYCE
Profile picture of Vineet Kumar
Vineet Kumar
Head of Creative
Profile picture of Nat Remy
Nat Remy
Head of Community
Profile picture of Dmitriy Ishimbayev
Dmitriy Ishimbayev
General Counsel
Profile picture of Michael Hallett
Michael Hallett
Project Manager/Builder
5 more team members
Philip Michael
Founder, NYCE
Martin Braithwaite
Co-founder, NYCE
Vineet Kumar
Head of Creative
Nat Remy
Head of Community
Dmitriy Ishimbayev
General Counsel
Michael Hallett
Project Manager/Builder

Press

FC Barcelona star and business partner want to create 100...
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·
Jul 2, 2020

International soccer star Martin Braithwaite and his business partner Philip Michael are on a mission to convert 100,000 ...

New Barcelona Signing Martin Braithwaite And His Uncle Ju...
Forbes Forbes

It's not often that football players can make a seamless transition into business, let alone doing so during their playin...

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TEMPLE I

TEMPLE I successfully raised $360,000 from 1272 investors on October 21, 2020
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Wendell, Brayan, Bella, APOLONE, Irving, and 1267 others invested. 256 Reviews

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