Page 14 - BRC 3-deal package - 072417

sale proceed disbursements
Net Cash Flow
Cash Flow (Sale of Project - Year 5)
NET BENEFIT FROM SALE MARKET VALUE (6.5%) Cap Rate Less: Remaining Debt
Less: Accrued Preferred Return Less: Transaction Costs (3.0%) NET BENEFIT FROM SALE
Tier 1 - Preferred Return
Preferred Return (8%)
Preferred Return distribution LP Operations Preferred Return distribution LP Dev Budget Preferred Return Accrued
Tier 2 - Return Threshold up to 15% Remaining Cash Flow - after Tier 1 Required to hit Hurdle
Cash Flow Available Tier 2
LP Distribution Sponsor Distribution
Tier 3 - Return Threshold up to 20% Remaining Cash Flow - after Tier Required to hit Hurdle
Cash Flow Available Tier 3
LP Distribution Sponsor Distribution
Tier 4 - Return Threshold greater than 20% Cash Flow Available Tier 3
LP Distribution
Sponsor Distribution
Total Cash Flow by Entity LP Distribution
Sponsor Distribution
Initial Investment
$0 $0 $0 $40,824,409 $12,705,607 $28,118,802 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 IRR 30.10% 20.28%
$681,622
10/1/21
$0
$0 $0 $0 $0
10/1/21 $3,432,965.51
$681,622 $0 $2,751,343
10/1/21
$0
$1,754,620 $0 $0 $0
10/1/21
$0
$2,339,493 $0 $0 $0
10/1/21
10/1/21
$2,500,299
10/1/22 $74,875,324 $34,304,955
$1,186,841
$2,246,260 $37,137,269
10/1/22 $3,687,140 $2,500,299
$0 $1,186,841
10/1/22 $37,137,269 $1,754,620 $1,754,620 $1,315,965 $438,655
10/1/22 $35,382,649 $2,339,493 $2,339,493 $1,637,645 $701,848
10/1/22 $33,043,156 $21,478,051 $11,565,105
1/5/00 $28,118,802 $12,705,607
Construction
1/1/19 11/30/19 11/30/20
Stabilized 5
10/1/21 10/1/22
Lease Up $0 $0 $0
1/1/19 11/30/19 11/30/20
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
1/1/19 11/30/19 11/30/20 $935,797 $1,715,201 $2,650,998 $0 $0 $0 $0 $0 $0 $935,797 $1,715,201 $2,650,998
1/1/19 11/30/19 11/30/20
$0 $0 $0 $1,754,620 $1,754,620 $1,754,620 $0 $0 $0 $0 $0 $0 $0 $0 $0
1/1/19 11/30/19 11/30/20
$0 $0 $0 $2,339,493 $2,339,493 $2,339,493 $0 $0 $0 $0 $0 $0 $0 $0 $0
1/1/19 11/30/19 11/30/20
$0 $0 $0 $0 $0 $0 $0 $0 $0
1/1/19 11/30/19 11/30/20
$0 $0 $0 $0 $0 $0
BRC - Chesterfield Parkway
Date Project Sponsor LP
1/1/2018 -$11,697,465 $0 -$11,697,465 1/1/2019 $0 $0 $0 11/30/2019 $0 $0 $0 11/30/2020 $0 $0 $0
$0 $0 $0
$0 $0
10/1/2021 10/1/2022 10/1/2023 10/1/2024 10/1/2025 10/1/2026 10/1/2027 10/1/2028 10/1/2029 10/1/2030 10/1/2031 10/1/2032 10/1/2033 10/1/2034 10/1/2035 10/1/2036
13 | BOUTIQUE RETIREMENT CLUBS | OVERLAND PROPERTY GROUP | LEAWOOD, KANSAS