Page 21 - BRC 3-deal package - 072417

sale proceed disbursements
Net Cash Flow
Cash Flow (Sale of Project - Year 5)
NET BENEFIT FROM SALE MARKET VALUE (6.0%) 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 $37,849,744 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 IRR 30.41%
1/1/19 1/1/19
1/1/19 $917,181
$0
$0 $917,181
1/1/19
$0
$1,719,715 $0 $0 $0
1/1/19
$0
$2,292,953 $0 $0 $0
1/1/19
$0
$0 $0
1/1/19
$0
$0
1/1/2018 -$11,464,764 1/1/2019 $0 11/1/2019 $0 11/1/2020 $0
11/1/19 11/1/19
11/1/19 $1,528,300.21
$0
$0 $1,528,300
11/1/19
$0
$1,719,715 $0 $0 $0
11/1/19
$0
$2,292,953 $0 $0 $0
11/1/19
$0
$0 $0
11/1/19
$0
$0
Sponsor
$0
$0 $0 $0 $0
$11,684,754 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
12/31/22
$0
$0 $0 $0 $0 $0
$0
$0 $0 $0 $0 $0
$324,944
7/1/21
$0
$0 $0 $0 $0
7/1/21 $3,053,585.02
$324,944 $0 $2,728,641
7/1/21
$0
$1,719,715 $0 $0 $0
7/1/21
$0
$2,292,953 $0 $0 $0
7/1/21
7/1/21
$1,979,033
7/1/22 $71,642,505 $33,622,518
$1,666,789
$2,149,275 $34,203,923
7/1/22 $3,645,822 $1,979,033
$0 $1,666,789
7/1/22 $34,203,923
$1,719,715 $1,719,715 $1,289,786
$429,929
7/1/22 $32,484,208
$2,292,953 $2,292,953 $1,605,067
$687,886
7/1/22 $30,191,255 $19,624,316 $10,566,939
1/5/00 $26,164,991 $11,684,754
The Fairways at Flying Horse Date Project
7/1/2021 7/1/2022 7/1/2023 7/1/2024 7/1/2025 7/1/2026 7/1/2027 7/1/2028 7/1/2029 7/1/2030 7/1/2031 7/1/2032 7/1/2033 7/1/2034 7/1/2035 7/1/2036
19 | BOUTIQUE RETIREMENT CLUBS | OVERLAND PROPERTY GROUP | LEAWOOD, KANSAS
Construction
Lease Up 11/1/20
$0
11/1/20
$0
$0 $0 $0 $0
11/1/20 $2,445,481
$0
$0 $2,445,481
11/1/20
$0
$1,719,715 $0 $0 $0
11/1/20
$0
$2,292,953 $0 $0 $0
11/1/20
$0
$0 $0
11/1/20
$0
$0
LP -$11,464,764
$0 $0 $0 $0
$26,164,991 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 20.13%
Stabilized 5
7/1/21 7/1/22
$0 $0 $0
$0 $0