Peoria Gateway is a newly developed 200-unit Class A multifamily community in Peoria, Arizona, one of the fastest-growing submarkets in the Phoenix MSA. Positioned in a high-income corridor with strong population growth, expanding employment, and continued in-migration, the project is designed to deliver institutional-quality housing in a market with durable long-term demand.

The development is now approaching a major inflection point: vertical construction is about to begin. Reaching this stage significantly reduces development risk by moving the project beyond the early entitlement, planning, and horizontal infrastructure phases and into the construction phase, where value creation becomes substantially more visible and measurable.

This offering represents the final capital tranche into the project, providing investors with a preferred equity position in the capital stack. As the last money into the deal and first money out, preferred equity investors receive priority distributions ahead of common equity and benefit from enhanced downside protection relative to traditional equity investments.

Viking Capital is offering this opportunity with a targeted 16% IRR, 6% annual cash-on-cash distributions, and an anticipated 2.5-year hold period, with a target exit between June and November 2028. The combination of a late-stage development entry point, a preferred position in the capital stack, and a rapidly growing Phoenix submarket creates a compelling risk-adjusted investment opportunity for accredited investors.