Page 16 - NOLASky_OfferingMemorandum_GSP
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Financing Request
Joint Venture Equity Request
Type Joint Venture Equity Partnership
Total JV Equity Required $10,721,256
JV Equity Required per Unit 67,008
Investment Horizion Approximatley 3 Years | 36 Months
Waterfall Structure Open to Discussion | In Line with Market Terms
Control Rights Major Decisions
Joint Venture Equity Return Metrics 1
Project Level IRR 29.07%
Project Level MOIC 1.87x
Project Level Peak Equity $12,622,238
Project Level Whole Dollar Profit $11,019,684
Project ROI (Year 3) 4.4%
Project Return on Cost 6.2%
¹ Above equity metrics assume:
• 65% LTC ($23,417,996) Senior Construction Loan priced at 1-Month LIBOR (1.00% at first loan draw) + 6.00% = 7.00%
• 12 Months after obtaining certificate of occupancy, the Construction Loan is to be refinanced into a $30,392,362 bridge
loan, floating at 1-Month LIBOR + 5.00%
• Upon holding for 3 years the property is to be sold for approximatley $51,187,137 ($319,919/unit), representing a 4.75% cap
rate. A sales broker fee of 1.25% of Sales Price is also assumed
• This presentation only contemplates JV Equity returns. Waterfall structure to be mutually agreed upon
16 | NOLA Sky
