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High Street Recap

Investment Category: Value-Add
Property Type: Class A Mixed-Use (Office, Retail, Multifamily) with 4.9 Acres of Undeveloped Land
Location: Phoenix, Arizona
Description: The investment provides cash flow through the stabilized multifamily and office components, while offering upside through the lease up of the vacant retail spaces, and the sale or development of the vacant land. We believe the Property will benefit from the influx of residents in the Desert Ridge community as robust residential development continues to absorb.
Purchase Price: $131 million
Total Equity: $48 million
Amount of SKB Offering: $4 million
Targeted Hold Period: 5 Years
Targeted Annual Cash-on-Cash: 6.9%*
Targeted Return: 17.8%*
Capital Partner Investment: $44 million

*Targeted returns and IRR and all projections of revenues and cash flows contained in Investment Highlights, as well as other statements about our expectations or anticipated outcomes, are forward looking statements based on assumptions about future events that may not occur and should not be construed as guarantees of performance. For further discussions of this and other risks associated with investments please refer to the Risk Factors section of the Information Memorandum.

Overview

$

131

million

PURCHASE PRICE

$

48

million

TOTAL EQUITY

5

years

TARGETED HOLD

17.8

percent*

TARGETED IRR

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