VIRTUA 99 th A Potential Value Add Investment Opportunity 1
Executive Summary • $3.25MM offering Class A Equity • Projected 54.67% IRR • Anticipated 36 month term • Proposed Purchase Price of $1.76 per square foot • Located in Phoenix MSA • Planned Mixed-Use Development • Horizontal Development Play • 4 Parcels Pre-Sold to Virtua Affiliates 2
Conceptual Site Plan 3
The Location University of Phoenix Stadium Banner Estrella Hospital Costco 4
The Location 99 th Avenue & Encanto Blvd, Avondale, AZ 5
Opportunity and Business Plan 99 th Avenue Banner Estrella Hospital 101 Freeway Virtua 99 th 6
Opportunity and Business Plan Business Plan Obtain all necessary entitlements • Sub-divide and sell parcels to others over a 12-36 month period • Agreement on Senior Debt of $2,250,000 • Sell Parcel #2 for $10.00/SF within one year of closing to an Affiliate of Virtua • Sell Parcel #3 for $8.00/SF within one year of closing to an Affiliate of Virtua • Sell Parcel #4 for $10.00/SF on or before the third anniversary of closing to an Affiliate of Virtua • Sell Parcel #7 for $7.00/SF on or before the third anniversary of closing to an Affiliate of Virtua • Parcel #1—Medical Office Parcel #2—Hotel Parcel #3—Apartments North Parcel #4—Apartments South Parcel #5—Retail Parcel #6—Restaurant Parcel #7—Townhomes Parcel #8—Clustered SFR 7
Exit Analysis • Purchase price of $1.76/SF • Average Anticipated exit value of $7.42/SF • Exit values based on Sponsors’ view of current market conditions • Table below shows a breakout of anticipated per parcel sales prices Parcel # Land Use Square Footage Approx. Acreage $/SF Value 1 Medical Office 165,528 3.80 $8.00 $1,324,224 2 Hotel 130,680 3.00 $10.00 $1,306,800 3 Apartments North 357,192 12.00 $8.00 $4,181,760 4 Apartments South 522,720 8.20 $10.00 $3,571,920 5 Retail 117,612 2.70 $10.00 $1,176,120 6 Restaurant 60,984 1.40 $12.00 $731,808 7 Townhomes 339,768 7.80 $7.00 $2,378,376 8 Clustered SFR 862,996 19.81 $5.00 $4,314,980 Total 2,557,480 58.71 $7.42 $18,985,988 8
Capital Stack Anticipated Capital Stack Senior Financing: $2,250,000 Equity Capital: $3,250,000 Acquisition Deposit: $50,000 Parcel 2, 3, 4, & 7 Deposits: $565,000 Total Capitalization: $6,115,000 Senior Financing Equity Capital Acquisition Deposit Parcel 2, 3, 4, & 7 Deposits 9
Principals & Management Team Quinn Palomino Lloyd W. Kendall Jr. Principal of Virtua Partners, Versant, Chairman of Virtua Partners Clear Vista Management, Quyp Development Matt Mueller Nick Montague Derek Uldricks President VP Finance President Versant Commercial Brokerage Versant Commercial Virtua Capital Management Brokerage 10
Corporate Organization Deal Sourcing Asset Management Sponsorship Capital Markets Investor Relations Vertical Fund Management Horizontal Vertical Development Development Investor Relations Development 11
Investment Summary • Projected close October 20, 2016 1 • Anticipated 54.67% IRR • Projected hold period of 36 months • Real Estate Portfolio Diversification: Short Term Equity Growth • Offering: $3,250,000 • $25,000 minimum investment • Sponsor co-invest 5%+/- 2 • 7% commission available 1. Sponsors have the right, in their sole discretion, to extend the offering until January 13, 2018 2. Sponsors have the right, but no obligation, to invest in this Offering. 12
Recommend
More recommend