Executive Summary
• Seeking LP: to co-invest (90%/10%) in $53M equity funding for mixed-use senior housing • IL, AL and MC: 261 Units Total in 2 buildings (with Medical Office & Retail) • Other Details: $106MM Construction Costs, $27MM Land, $80MM Debt • Sustainability: LEED certification goals, roof top solar, Battery Storage (redundancy) Heat pumps 19.8% Levered IRR ~$105m NPV 2.3x initial equity Analysis • Driven by strong monthly cash flows from assisted living care services plus medical office rent • Community fee (first month’s rent) provides extra cash flow during lease up period • 10 year holding period provides ample opportunity for NOI growth leading to strong sale price at exit (~447M)
Made with FlippingBook Online newsletter maker