BIC-015 fund in conjunction with Aster Avenue Associates raises $10 million; Sunnyvale townhome project now underway
Opportunities are often fleeting, but this one was particularly short-lived. Borelli Investment Company raised $10 million in only one week for its latest investment fund—BIC-015—offered in conjunction with Aster Avenue Associates. Investors snapped up the $100,000 shares, which are projected to pay an annual return of 12 percent over the expected 18- to 24-month holding period.
With the money for the project now raised, KB Home—California’s largest builder of new homes and one of the nation’s top five—has begun construction of a community of 80 townhomes in a close-in location near Lawrence Expressway and Monroe in the heart of Sunnyvale. The townhomes will put residents close to high-tech jobs and near major transportation arteries, in addition to CalTrain. KB Home plans to price the townhomes toward the affordable end of the spectrum for Silicon Valley.
“Affordable housing remains critical for Silicon Valley’s vitality,” said Ralph N. Borelli. “KB Home recognized that, and so did the investors who bought into the fund. We continue to look for other projects that make economic sense as the target vehicles for future investment funds.”
Interested parties who would like more information about the recently closed fund, or who would like to inquire about future investment opportunities, can reach Ralph Borelli at (408) 453-4700, or e-mail firstname.lastname@example.org.
This is not an offer to sell, nor a solicitation of an offer to buy shares in any current or future investment funds offered by Borelli Investment Company. Investment shares in BIC funds are offered only in conjunction with the offering prospectus. Please read carefully before you make any investment decision, and consult with an investment professional for advice and guidance regarding your personal financial situation.