Page 6 - OPG - Boutique Retirement Clubs

PROJECT DETAILS
Total Development Budget: Construction Loan: Investment Required: Project Cash on Cash: Project IRR:
INVESTOR RETURN
$28,000,000 $21,000,000 $ 7,000,000 14.6%
30.%
8%
21.5% $17,000,000 $10,000,000 2.40x
$ 4,600,000 ($4.64/sqft) ($4.34/sqft)
$2,200,000
Preferred Return: IRR:
Investor Distribution: Investor Pro t: Equity Multiple:
REVENUE
1-Bedroom (54): 2-Bedroom (36):
EXPENSES
Total Expenses:
$ 3,500 / mo $ 4,500 / mo
*Assumes 90 units and a 6.5% Cap, sale in year 5 (per year)
financial
Development Financials
The assumptions detailed below are based on the underwritten nancials of the 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.
5 | BOUTIQUE RETIREMENT CLUBS | OVERLAND PROPERTY GROUP | LEAWOOD, KANSAS