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30 Cards in this Set
- Front
- Back
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How many units |
348 |
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Partner? |
Liv |
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Why is high quality important |
It’s a long term hold. Build to last |
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Are we co-gp or lp |
We are co-gp |
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Offering size |
46mm |
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Minimum |
100k |
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Loan in place at what LTC? |
61% |
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What is the preferred return |
8% |
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The preferred is compounded ____? |
Annually |
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Waterfall is |
8 pref with 80-20 split |
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10 year hold starts when? |
From the date of the last investor |
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Is there a lookback provision |
Yes- manager is required to make investors whole 100% by clawback any distributions received |
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Construction loan is with? |
Trust |
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Projecting delivery? |
Early 2025- 2 years |
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Knoxville I haul index ranks Tennessee? |
Number 1 |
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Knoxville population |
Over 900k |
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How much has Knoxville invested in the area for parks, river walk green fund…and how much private money |
Knoxville 60mm Private 400mm
Less that 10 years |
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Knoxville occupancy |
95% + |
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What does TIF stand for |
Tax increment financing |
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How much was tif for us and what do we do forit |
Continue river walk and set aside 35 of the 348 apartments for workforce housing |
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Who force housing is what |
People who make 80% of median income |
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After 10 years workforce apts will do what |
Convert to market rent |
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What is tenant target |
Young professionals Graduates Grad students Empty nesters |
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Who is gc |
Southern building group |
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Supply? |
Bullish on rent growth No other apartments under construction And only 306 total units over 2 projects that are in planning stages |
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What makes Knoxville different than nation because nationally there is rent weakness |
Combo low supply, population growth, UT etc. big employers department of energy health system etc |
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Yardi matrix |
Knoxville one of few with rent growth projected upward |
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Oz created why |
Capital to undercapitalized areas |
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Stabilize ? Cash out refi? |
End of 2025 40-60% |
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Multiple? IRR? Development risk? |
2.6-2.7 Mid to high teens Minimal- already started |
