Property #ST1205 - Request more information
• Single Tenant TIC Investment
• Minimum Investment Amount: $25,000
• NNN Structure (landlord only responsible for roof and structure)
• 24 Hour Fitness Super-Sport in Portland MSA
• Cap Rate: 8.81%
• Total Offering Size: $5,520,000
• Purchase Price: $14,620,000
• Loan: $9,100,000
• Loan-to-value: 62.24%
• Anticipated Loan Terms: 6.94% fixed, 10-years, 25-year amortization 15 year corporate guaranteed lease runs through August 15, 2025
• 15 year corporate guaranteed lease runs through August 15, 2025
• Three 5-year extension options with fixed rate rental increases of 12% during each option period
• 7.0% rent increase in 2012. 12.0% increase in 2015 and every 5-years thereafter
• 24 Hour Fitness USA, Inc. is the world's largest privately-owned and operated fitness center chain with over 400 locations in 17 states and 3 countries
• The company boasts more than 3.8 million members and over $1.25 billion in annual revenue. It was ranked #1 in Club Industry's Top 100 list and has been on Forbes Top 500 largest private company list multiple times
• The property is a 45,172 square foot facility, built in 2010 and located in the a densely populated Portland suburb.
• There are 202 parking spaces
• 3,000 new residential units have been built within proximity to the property within the last 10 years.
• Currently, over 137,000 people live within a 3-mile radius of the property.
• Average household income is $92,807 within a 1-mile radius.
• Located in the fourth largest city in the Portland MSA and the fifth largest in Oregon
• The property is serviced by bus and light rail, and daily traffic counts are over 110,000
Wed, 10 Aug 2011 14:03:03
Property #MF375. Request more information
• Multi-Family Property TIC
• TIC = Tenant in Common proportionate interest in the property.
• Constructed in 2001
• Class A- suburban multifamily property
• 13.83+ Acres with 15.32 units / acre
• 94.81% Occupied (as of 6/13/2011)
• The minimum investment is $1 million equity which will end up with a $1 million proportionatte share of the underlying mortgage for a total investmet price of $2 million. If interested in a all cash purchase for 100% of the property, this may also be possible early on and prior to committments to smaller TIC investors.
• Type: Multi-family
• Size: 212 units
• Price: $20,100,00 ($94,811/unit)
• Cap Rate: 7.38%
• This is a 212-unit, class A garden-style multi-family neighborhood. It is the only multi-family property located on a golf course as well as in the highest income quadrant in all of Kentucky. Convenient location allows residents to access the central business district if this major city. Numerous prominent universities and hospitals and employers such as Humana Headquarters, Ford, General Electric and the world headquarters of KFC/YUM brands and a large assortment of retail amenities has enabled This property to consistently rank in the top occupancy levels of this submarket.
Mon, 1 Aug 2011 13:44:59