Page 2 - OPG Pitch Deck - Ironhorse 14% - 7.1.16
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THE FAIRWAYS OF IRONHORSE
The “FOUR SEASONS” of Senior Living
The Fairways of Ironhorse is a proposed 74-unit market rate, age-restricted (62 and older) independent living development located in the southern portion of Leawood, Kansas. The planned development includes the construction of 74 one and two-bedroom apartment units contained in a two, three, and four- story elevator-serviced mid-rise building with an underground garage and storm shelter. The property will be new construction, and the condition, high- quality of finish, enhanced amenities, and unit sizes will be superior to the competition.
The developer, Overland Property Group, LLC, has purchased the land, successfully re-zoned the property and received final plan approval through the City of Leawood. It is anticipated that permits will be ready for groundbreaking in late summer 2016.
OPG and Midwest Health are contributing a combined $5.5 million towards the investment. OPG is seeking an investor for the remaining $1 million to provide the $6.5 million needed to secure a loan to cost of $18.5 million, (75%) for a total development budget of $24.6 million. In exchange for the investment the partnership is offering a 14% equity stake in the development.
