Page 6 - OPG - Boutique Retirement Clubs
P. 6
FINANCIALS
The assumptions detailed below are based on the underwritten financials of The Fairways of Ironhorse in Leawood, KS which had a loan closing of 4/13/17.
The typical development will cost between $25-30 million, which includes the acquisition of the project site, development and construction costs, and working capital for the start- up of operations.
Assumes 90 units and a 6.5% Cap, sale in year 5
Project Details
• Total Development Budget:
• Loan to Const. Cost:
• Investment Required:
• Project Cash on Cash:
• Project IRR: Investor Return
• Preferred Return • IRR
• Investor Distribution
• Investor Profit
Revenue
• 1-Bedroom (54):
• 2-Bedroom (36):
Expenses
• Total Expenses / Unit
$28,000,000 $21,000,000 $ 7,000,000
14.6% 30%
8% 21.5%
$17,000,000 $10,000,000
$4,600,000 / year
$3,500 / mo $4,500 / mo
($4.64/sqft) ($4.34/sqft)
Copyright © 2017 Overland Property Group, LLC - All Rights Reserved
5
$2,200,000 / year
