Joint Venture Equity/Preferred Equity

Joint Venture Equity

$1MM – $7MM

INVESTMENT STRATEGY:Value-add, Core-plus, Opportunistic
EQUITY CONTRIBUTION:Up to 90%
PROPERTY TYPES:MultifamilyStudent HousingSenior HousingRetail (Anchored and Unanchored)Multi-Tenant OfficeIndustrialWarehouseFlex PropertiesSelf-Storage FacilitiesManufactured Home CommunitiesSemi Blind Funds
HOLD PERIOD:1 – 10 years
SPONSOR CO-INVEST:Minimum 10% of JV equity
LEVERAGE:Maximum 80%
OCCUPANCY:Minimum 70%
INCOME:Existing and cash-flowing assets only
TARGET INVESTOR RETURNS:Minimum 13% IRRMinimum 7% Cash-on-Cash
MARKET POPULATION:Greater than 30,000 people within 5-mile radius
SPONSOR EXPERIENCE:Sponsors with greater than $25 million in acquisitions experience. (However, Sponsors are evaluated on a case-by-case basis.)
EXCLUDED PROPERTIES:Development or Ground Up ConstructionLand PlaysBlind Funds (Semi-Blind Funds OK)Properties Located on Indian ReservationsProperties that are Utilized as a Place of WorshipSingle Family ResidentialSpecial Purpose
TIMING:35 – 45 days
STRUCTURE:Single consolidate entity: one K-1, one distribution, one report

Preferred Equity

$1MM – $7MM

INVESTMENT STRATEGY:Value-add, Core-plus, Opportunistic
PREF. EQUITY CONTRIBUTION:Up to 85% of cost
PROPERTY TYPES:MultifamilyStudent HousingSenior HousingRetail (Anchored and Unanchored)Multi-Tenant OfficeIndustrialWarehouseFlex PropertiesSelf-Storage FacilitiesManufactured Home CommunitiesBuild-to-Suite NNN
HOLD PERIOD:1 – 7 years
SPONSOR CO-INVEST:Minimum 10% of JV equity
LEVERAGE:Maximum 80%
RATE:11% – 13%
MARKET POPULATION:Greater than 30,000 people within 5-mile radius
SPONSOR EXPERIENCE:Sponsors with greater than $25 million in acquisitions experience. (However, Sponsors are evaluated on a case-by-case basis.)
EXCLUDED PROPERTIES:Development or Ground Up Construction (Build-to-Suite NNN considered on a case-by-case basis)LandProperties Located on Indian ReservationsProperties that are Utilized as a Place of WorshipSingle Family ResidentialSpecial Purpose
TIMING:35 – 45 days
STRUCTURE:Single consolidate entity: one K-1, one distribution, one report