With several new investment products introduced over the last few months, Arrived is consolidating the performance report of each asset class to this monthly email and blog. This monthly performance report will include the Arrived Funds monthly performance, leasing updates of Single Family Residential Properties, and booking updates for Vacation Rental Properties.
Rental income dividends are now paid monthly to your Arrived Cash Balance!
Read more about the Arrived Cash Balance here.
Arrived Private Credit Fund
Another milestone has been reached with the Arrived Private Credit Fund—The Arrived Private Credit Fund will pay an 8.1% annualized yield first expected dividend in July! Since the Fund's launch, 10 new loans have been added, ranging in size and type to ensure built-in diversity. In addition, the Arrived Private Credit Fund's first loan was paid off in June.
Cameron Wu, Arrived VP of Investments, comments on the first loan repayment milestone:
"We’re excited to share that the first loan in the Arrived Private Credit Fund has just been paid off. This $206,250 bridge loan was in Knoxville, TN. No remodeling or rehab was involved; the borrower was simply buying time to secure long-term conventional financing.
We strategically purchased this loan while it was already seasoned. This approach can significantly reduce risk, as acquiring a loan closer to its maturity and payback phase minimizes uncertainty.
Arrived Private Credit Fund has 11 loans total, with 6 new ones added since its launch. This loan repayment is an exciting milestone, and we’re eager to build on this success for our investors in this Fund."
The table below details the loans in the Arrived Private Credit Fund.
Arrived Single Family Residential Fund
The Beasley, The Harry, and The Sally were added to the Arrived Single Family Residential Fund in June. One property in the Fund, The Alfie, secured a lease. See the tables below for more details.
If you've invested in this Fund, you can expect to directly benefit from the following leases secured and new properties added. As the Fund grows, your built-in diversification expands with it.
Single Family Residential
In May, we secured new tenants for 3 Arrived single family residential homes across 3 markets for an average lease duration of 22 months. Of these homes, 1 property was leased over the forecasted amount.
All rental income generated from Arrived properties benefits its investors by adding to the property’s cash reserves or by being paid out as future monthly dividends.
Overall, Arrived single family residential properties had a stabilized occupancy of 95%* with 325 occupied properties* collecting a total of $654,536*+ rent revenue in May.
May Leasing Activity
*All rents listed are per the property’s lease agreement and what we expect to collect for the property’s lease term.
Vacation Rental
May Gross Booking Revenue & Guest Ratings
Arrived vacation rentals generated $250,040 in gross booking revenue for 38 booking-ready properties in May.*
Arrived vacation rentals are beginning to see an uptick in bookings as we turn the season to summer. Our guest rating remains at 4.9 out of 5 stars and many Arrived vacation rentals rank as Airbnb guest favorites.
The table below presents each bookable vacation rental’s gross booking revenue and guest rating score in May.
It's important to note that vacation rentals are highly seasonal, which may lead to greater gross booking revenue deltas depending on the market or location of the property. Newly bookable vacation rentals typically require more time to reach revenue potential.
*Gross vacation rental revenue from the month of May reflects bookings from 5/1/2024 through 5/31/2024. Our guest rating is a weighted average for all bookable vacation rentals from the property's bookable date to current (6/26/24).
Want to stay at an Arrived vacation rental? Add it to your Airbnb wishlist ✨
Guest Review Highlights
"This beautifully decorated Airbnb near the beach was a perfect getaway. Tasteful decor and a short stroll to the shore made for an unforgettable stay. I would definitely stay here again!" - Guest review of The Sandbar, 5/5 stars
"Absolutely amazing. This property was perfect. My family of 16 had more than enough room to sleep, eat, and enjoy the house. The pool and basketball as well as the golf putting outside kept us busy and entertained all day. We didn’t want to leave. Icing on the cake was the unbelievably considerate host who got us in early last minute when we were in a bind. Very thankful. I hope to be back in AZ just to enjoy the house again. Thanks for the great vacation." - Guest review of The Cardinal, 5/5 stars
"Wonderful family getaway! This home was everything, I hoped it would be and more! This home provided the luxurious feel I wanted, while also being fun and entertaining for my kids. We’ve stayed at several Airbnbs and this was our best stay to date. The home was beautiful, clean and provided all the amenities one needed to feel right at home. Highly recommend!" - Guest review of The Cactus, 5/5 stars
"Our family of 4 had a wonderful stay here! Great location, very close to dining, shopping and easy to get to old town Scottsdale and downtown Phoenix! The home was spectacularly clean and had all the amenities we needed. The back yard space was very relaxing and well kept. We will definitely stay here again when we visit Scottsdale!" - Guest review of The Koi, 5/5 stars
"My family and I could not asked for a more perfect place to stay .The house is so beautiful, very well-maintained, and extremely clean. Customer service is top-notch. The hosts were very friendly and responsive. The kitchen is well stocked and the beds were super comfy. The backyard is beautiful and very private—it felt like our own little piece of tropical paradise. We were able to grill outside , enjoy the pool , and later at night, the kids had a blast making s’mores at the fire pit.There is plenty of space to lounge. It’s the perfect house to stay in South Florida. Five stars all across the board. Don’t scroll past this review—go book now! Trust me, you won’t regret it." - Guest review of The Palm, 5/5 stars
Vacation Rental Status Updates
Update on The Vita
Over the past year, we've encountered unexpected challenges while onboarding The Vita, such as property management changes and contractor delays, which have unfortunately kept this property from becoming rent-ready. Our team is actively working on a plan to address this situation. Significant updates will be shared within the next few months.
Learn more about our vacation rental preparation process.
*These figures include only stabilized IPO properties. All figures are unaudited and may be subject to change.
*Stabilized Occupancy includes homes that are occupied or are 90+ days rent-ready from their initial improvements (single family residential properties only). Properties may be removed from stabilized if significant impairment outside of the ordinary course of operations requires material action for an extended period of time.
*In an effort to improve the accuracy of our property performance reporting, we will be adjusting the content and cadence of some metrics to provide the most accurate information in alignment with associated SEC filings.
