The Woodlands - Archive - ULI

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FINANCIAL METRICS (cont.)<strong>The</strong> Preferred Equity/Mezz Debt willbe repaid in Year 3 (2016) through anew permanent loan or a sale of thecommunity.Year 3 Perm Loan Assumption (2016)LTV 70%DSRC 1.25Underwriting Rate 6.00%Amortization30 YearsPerm Loan Amount $17,260,000Repay Construction Debt -$13,475,000Repay PE/Mezz -$3,200,000Net Proceeds $585,000Year 3 Sale Assumption (2016)NOI (Trended) $1,552,291CAP 5.50%CAP Value 28,000,000Cost of Sale -$1,130,000Construction Loan Balance -$13,475,000Repay PE/Mezz -$3,200,000Net Proceeds $10,195,000THE WOODLANDS - Evergreen HousingDevelopment Group, LLC
EVERGREEN HOUSING DEVELOPMENT GROUP, LLCFounded in 2005• Conservative firm seeking Preferred Equity/Mezz Debt Capital Partner to expandmarket rate apartment development and construction• $90,000,000 Current Portfolio of Evergreen Developed Product:• 228 units of market rate housing• 532 units of LIHTC affordable housing• Integrated 6 person team – Development and Construction, CPA on Staff• Experienced with Institutional Level of Due Diligence and Operations• Steady, measured multifamily development growth• Consistent best in class design and specification• Best in market 3 rd party professional management• Select suburban Pacific North West locations with land constraints.• 1 st Tier City suburban neighborhoods• 2 nd Tier Cities with strong performing marketsTHE WOODLANDS - Evergreen HousingDevelopment Group, LLC
Page 4 and 5: LOCATION• 1,343 Acre Quadrant dev
Page 6 and 7: TYPICAL FLOOR PLAN - 3 Bed 2.5 Bath
Page 9: MARKET DATA - BEST RENT COMPARABLEE
Page 14: WOODLANDS PROJECT REQUEST• $3,200

The Woodlands - Archive - ULI

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