Court Street RAD Preservation Newark, NJ Jonathan Rose Companies - PowerPoint PPT Presentation

Court Street RAD Preservation Newark, NJ

Jonathan Rose Companies Firm Overview Rose Investments Culture, Health & Education Rose Development

Jonathan Rose Companies Overview Jonathan Rose Companies has completed $1.6B of development, transformation and project management work, including more than 5,300 multifamily housing units. Across its nine real estate investment funds, the Firm currently owns 22 properties and has more than $292M in capital commitments. Approximately 88% of the Firm ’ s funds ’ housing units are affordable.

Jonathan Rose Companies Court Street, Newark, NJ

Jonathan Rose Companies Court Street Newark, NJ - Existing Court Street, Newark, NJ

Jonathan Rose Companies Court Street Newark, NJ Court Street, Newark, NJ Mission: Repair the Fabric of Communities While Preserving the Land Around Them

Jonathan Rose Companies Court Street, Newark, NJ

Jonathan Rose Companies Court Street Newark, NJ Court Street, Newark, NJ Mission: Repair the Fabric of Communities While Preserving the Land Around Them

Jonathan Rose Companies Court Street Newark, NJ Court Street, Newark, NJ Court

Court Street – Sources and Uses Jonathan Rose Companies Sources Loan� Proceeds $� � � � � � � � 17,775,000 IRP $� � � � � � � � � � 2,305,000 Release� of� seller� Environmental� Escrow* $� � � � � � � � � � 1,064,970 Release� of� NJHMFA� Replacement� Reserve $� � � � � � � � � � � � � � � � � � � � � - Release� post� rehab TOTAL� SOURCES $� � � � � � � � 21,144,970 Uses Acquisition� Cost $� � � � � � � � � � � � � � � � � � � � � - Mortgage� Payable� to� NJHMFA $� � � � � � � � � � 2,876,179 Hard� Cost� Building $� � � � � � � � � � 5,209,264 Hard� Costs� Remediation $� � � � � � � � � � 2,865,110 Soft� Costs $� � � � � � � � � � 1,930,703 TOTAL� USES $� � � � � � � � 12,881,255 Net� Proceeds� at� Closing $� � � � � � � � � � 8,263,715 Intial� Fund� Equity $� � � � � � � � � � 8,626,454