Page 28 - BRC 3-deal package - 072417

sale proceed disbursements
Net Cash Flow
Cash Flow (Sale of Project - Year 4)
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 $31,581,434 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 IRR 33.44%
1/1/19 1/1/19
1/1/19 $724,251
$0
$0 $724,251
1/1/19
$0
$1,357,970 $0 $0 $0
1/1/19
$0
$1,810,627 $0 $0 $0
1/1/19
$0
$0 $0
1/1/19
$0
$0
1/1/2018 -$9,053,135 1/1/2019 $0 10/2/2019 $0 10/2/2020 $0
10/2/19 10/2/19
10/2/19 $1,146,498.95
$0
$0 $1,146,499
10/2/19
$0
$1,357,970 $0 $0 $0
10/2/19
$0
$1,810,627 $0 $0 $0
10/2/19
$0
$0 $0
10/2/19
$0
$0
Sponsor
$0
$0 $0 $0 $0
$9,829,652 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
5/1/2021 5/1/2022 5/1/2023 5/1/2024 5/1/2025 5/1/2026 5/1/2027 5/1/2028 5/1/2029 5/1/2030 5/1/2031 5/1/2032 5/1/2033 5/1/2034 5/1/2035 5/1/2036
12/31/21
$0 $0
$0 $0 $0 $0
$0
$0 $0 $0 $0 $0
$164,410
5/1/21
$0
$0 $0 $0 $0
5/1/21 $2,290,220
$164,410 $0 $2,125,810
5/1/21
$0
$1,357,970 $0 $0 $0
5/1/21
$0
$1,810,627 $0 $0 $0
5/1/21
5/1/21
$1,661,387
5/1/22 $58,216,517 $26,549,974
$1,188,674
$1,746,496 $28,731,373
5/1/22 $2,850,061 $1,661,387
$0 $1,188,674
5/1/22 $28,731,373
$1,357,970 $1,357,970 $1,018,478
$339,493
5/1/22 $27,373,403
$1,810,627 $1,810,627 $1,267,439
$543,188
5/1/22 $25,562,776 $16,615,804
$8,946,972
1/5/00 $21,751,782
$9,829,652
BRC Omaha
Date Project
25 | BOUTIQUE RETIREMENT CLUBS | OVERLAND PROPERTY GROUP | LEAWOOD, KANSAS
Construction
Lease Up 10/2/20
$0
10/2/20
$0
$0 $0 $0 $0
10/2/20 $1,870,750
$0
$0 $1,870,750
10/2/20
$0
$1,357,970 $0 $0 $0
10/2/20
$0
$1,810,627 $0 $0 $0
10/2/20
$0
$0 $0
10/2/20
$0
$0
LP -$9,053,135
$0 $0 $0 $0
$21,751,782 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 22.43%
Stabilized 4
5/1/21 5/1/22
$0 $0 $0
$0 $0