The GRID 217 U 217 Uni nit S Stud udent ent H Housi using D ng Dev evelo elopment ment i in B n Buf uffalo lo N NY Ne Neal Da Dave ve Ju Justin An Anna Bawa Bawa My Myers Freem Freeman Ea Earl
We will start in The GRID 217 U 217 Uni nit S Stud udent ent H Housi using D ng Dev evelo elopment ment i in B n Buf uffalo lo N NY Ne Neal Dave Da ve Ju Justin Anna An Bawa Bawa My Myers Freem Freeman Ea Earl
TODAY’S AGENDA 2 1 3 Why hy thi his s market, Why hy st stud udent nt Who ho sub submarket & property? housi ho using ng? ? ar are we we? ? Let’s understand the An introduction to the Grid What’s different and special opportunity Management Team about this market segment 5 4 6 How long ng and nd Wha hat ar are the he Wha hat did did how muc ho uch? h? numbers? num ? we we fo forget et? ? Minimum investment Assumptions, loans, Q&A session amount and timeframe splits, returns and more
HOUSEKEEPING & LEGAL Feel free to type your questions in the text box. We will answer them at the end. This presentation is being recorded. You will automatically be sent a copy. All numbers shown are estimates and subject to change as we negotiate with contractors to reduce costs, the architect to add units, and make improvements where possible.
HOUSEKEEPING & LEGAL This material does not constitute an offer or a solicitation to purchase securities. An offer can only be made by the Private Placement Memorandum (PPM). This document is an informational summary of the prospective investment opportunity only. The PPM and its exhibits contain complete information about the Property and the investment opportunity.
HOUSEKEEPING & LEGAL This presentation has been prepared to summarize such information for prospective investors in the Company. The information contained herein is not a substitute for an investor’s complete review of all of the information attached to the PPM as part of their own due diligence regarding this investment opportunity and its suitability for their investment portfolio.
WHO ARE WE? An Introduction to the Grid Management Team Neal Ne Dave Da ve Ju Justin An Anna Bawa Bawa My Myers Freem Freeman Ea Earl
Meet Neal President and CEO, Grocapitus About Neal Key Focus Neal’s companies have owned / managed a portfolio of over $120 In Inves estor Managem emen ent Million Lea Leasing g and Ten enant Marketing Over 1,600 units of Multifamily and Student housing, in 7 states Submarket and Property Select ction Neal Bawa Nationally known Multifamily mentor and speaker Operations and metrics cs CEO & Founder Grocapitus About 4,000 investors attend his Multifamily webinar series and hundreds attend Multifamily Boot camps Co-founder of the largest Multifamily Investing Meetup in the U.S. with 3000+ members.
Meet Dave Principal, Blackfish About Dave Key Focus A Founding Partner and Principal for Blackfish Student Housing Acq cquisition Investments. He has participated in the acquisition of over Commerci cial Mortgage Lending $1Billion of student housing properties. Was the Executive Vice President of Acquisitions Property Management Pr Dave Freeman and President of a new brand for Campus Crest Communities (NYSE – CCG) from 2011 to 2013. Asset Management and Metrics cs Principal Blackfish Dave secures a $200M equity commitment from Rothschild while he served as the President / CEO of Glenwood Student Communities. Over the past 25+ years, Mr. Freeman as an owner and operator has overseen the acquisition, development, renovation, and management of over $80 million of student housing assets for the GSC partnership.
Meet Justin Principal, Blackfish About Justin Key Focus A Founding Partner and Principal for Blackfish Acq cquisitions and Development Investments who works with acquisitions, development, design, and financing of new projects. Property Management Pr He served as Director of Acquisitions and Leasing Lea g and Un Under erwriting Development with the largest multifamily Justin Earl developer in Utah, ICO (Ivory Commercial). Land Acq cquisition Principal He was responsible for the growth and Blackfish development objectives of ICO Development in the commercial real estate product types (retail, office, industrial) and in Student Housing. He underwrote more than $1.3 billion in potential new acquisitions in 24 states.
Meet the management team The strength of the project is in the team Nadine Fortich Anna Myers Julianne Feliza Jennifer Pineda Property Administrator Vice President & Transaction Coordinator & Tenant Leasing & Investor Relations Operating Partner Marketing
Core Competencies What we are really good at FIND & VERIFY ACQUIRE & CONSTRUCT 5 to 7 YR EXIT LEASE UP & STABILIZE After uncovering an project We are leasing experts with Our goal is to sell the We identify high quality that meets our stringent plenty of experience to get the property and return capital opportunities with significant criteria, our Asset Managers newly constructed building and profits to investors in a upside and a very favorable and Principals spring into leased up at a good pace. 5 - 7 year time period. risk to reward ratio. action and work hand in hand With continued effective with our developer team to management we are able to We take pride in We employ a proprietary acquire the land and build the maintain high occupancy rates communicating regularly research-focused process to asset. and increase rent rates, with our investors on uncover the best metros, We select our developers resulting in increased property progress toward reaching sub-markets, neighborhoods very carefully values and higher cash flow for the projected exit price. and target properties. happy investors. .
How we select markets Location, Location, Location EMPLOYMENT RENT GROWTH SUPPLY & DEMAND SALES TRENDS We monitor the supply of The 5-year rent growth We continuously monitor We look for metros and local units carefully to ensure forecast is one of our key local sales to compute cap submarkets that are adding a it will not spike the vacancy indicators. We use a powerful rates and determine whether significant number of high- rates and negatively impact our cap rates are on target to proprietary method to paying jobs, resulting in a rents. calculate this value. reach our projections. stable local economy
GROCAPITUS PORTFOLIO & TRACK RECORD 14 14 Equinox on Prince The Point on Flamingo Art City Purchased March 2019, our first property in Tucson, AZ is an older 114 192-unit C class property in Las Vegas Art City Center is a beautiful new unit property in a growth area with new purchased in May 2017. Borders UNLV construction mixed use project in medical centers and malls nearby. campus on two sides, and is now Springville, UT. The iconic mid-rise Under market rents and tired units transformed into purpose built student secure access residential facility provide true value add opportunity. housing. It is run as full-service, has 102 units. The project was We’ve boosted occupancy by 10% in furnished housing, rented by the bed completed in April 2018 and is our 1st month of ownership as we re- to individual students. First 100 halfway through lease-up. brand and renovate to create a modern students now in. apt community. Rails on Main Chelsea Place Woods of Ridgmar 322 unit new construction purpose- 174 unit Class C property in East 235-unit stabilized property built student housing project next to Atlanta, 95% occupied. Value Add acquired in Ft. Worth, TX in Dec the university in Buffalo, NY. First raise project with under market rents, will 2016. We have rehabbed 150+ of $6.2MM used to buy land, demo, undergo light rehab and rents pushed units to a higher spec. And have to market . Two miles from our other land remediation & rezoning. Project successfully raised rents and Atlanta property, so lots of well timed as Buffalo economy surged improved tenant base. Now efficiencies here. in 2017. Starting construction 2018, for issuing regular distributions. 2020 completion. Property purchased December 2018 Lakewood Oaks Park Canyon Windward Forest Our first project in Jacksonville FL is a 151 unit Class B Property in Dalton 138 unit Class C (vintage 1974) in an 216 unit Class C Property in GA, Chattanooga Metro. Under emerging Class B area, acquired in East Atlanta. 94% occupied market rents and 20 down units from Feb 2019. With under market rents, property, will undergo light a fire gives us opportunity to add and no renovated units, this is a true rehab on all units. significant value in this project. value add. We will re-brand it, re- position it, then explore the Property purchased Sept 13, Property purchased November 2018 possibilities to build 32 additional 2018 Commerce Slides units.
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