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TAMPA-ST. PETE DEVELOPMENT CONFERENCE Nicholas Husak Engler Financial Group.

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Presentation on theme: "TAMPA-ST. PETE DEVELOPMENT CONFERENCE Nicholas Husak Engler Financial Group."— Presentation transcript:

1 TAMPA-ST. PETE DEVELOPMENT CONFERENCE Nicholas Husak Engler Financial Group

2 2 Overview 2012 TAMPA ST. PETE DEV CONFERENCE EFG Introduction Investment Sales Update Sourcing JV Development Equity

3 Raising JV Development Equity DEVELOPEREQUITY PARTNER 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update

4 2012 TAMPA ST. PETE DEV CONFERENCE Investment Sales Update 4 Investment Sales Activity Tampa, FL

5 2012 TAMPA ST. PETE DEV CONFERENCE Investment Sales Update 5 Seneca at Cypress Creek Tampa, FL

6 6 DEAL SPECIFICS Broker Sale Date Year Built No. of Units Average Sq. Ft. In Place Effective Rent Rent/Sq. Ft. Price/Unit Cap Rate (T3 Inc./T12 Exp.) EFG Sept $1,134 $1.07 $138, % Investment Sale Seneca at Cypress Creek Tampa, FL 2012 TAMPA ST PETE DEV CONFERENCE Investment Sales Update

7 2012 TAMPA ST. PETE DEV CONFERENCE Investment Sales Update 7 Investment Sale Villas at Gateway St. Petersburg, FL

8 8 DEAL SPECIFICS Broker Sales Date Year Built No. of Units Average Sq. Ft. In Place Effective Rent Rent/Sq. Ft. Price/Unit Cap Rate (T3 Inc./T12 Exp.) EFG Nov $1078 $1.08 $120, % Investment Sale Villas at Gateway St. Petersburg, FL 2012 TAMPA ST PETE DEV CONFERENCE Investment Sales Update

9 2012 TAMPA ST. PETE DEV CONFERENCE Investment Sales Update 9 Investment Sale Estates at Countryside Clearwater, FL

10 10 DEAL SPECIFICS Broker Sales Date Year Built No. of Units Average Sq. Ft. In Place Effective Rent Rent/Sq. Ft. Price/Unit Cap Rate (T3 Inc./T12 Exp.) EFG Nov $865 $0.86 $92, % Investment Sale Estates at Countryside Clearwater, FL 2012 TAMPA ST PETE DEV CONFERENCE Investment Sales Update

11 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update 11 Pier House Developed by Related Group of Florida Tampa, FL

12 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update 12 Bayway Apartments Developed by MCRT St. Petersburg, FL

13 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update 13 Broadstone Hyde Park Developed by Alliance Residential Tampa, FL

14 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update 14 JV DEVELOPMENT EQUITY Market Terms Southeast US Q Return on Cost Debt Equity Coinvestment (Dev Equity) Returns / Promotes % % % % 8 – 10% Pref 70 / 30 to a 15-17% 60 / 40 to a 17-20% 50 / 50 thereafter

15 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update 15 JV DEVELOPMENT EQUITY Market Terms Southeast US Q Put / Call Completion Guarantee Post Completion Guarantees Development Fees GC Fees Management Fees Yes 3-5% 5-6% 3%


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