Traditions Investor Package
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INVESTMENT OPPORTUNITY
TRADITIONS AT PALM AIRE
The following information is an investment summary provided to prospective investors and others. This information is not an offering to sell either a security or a
solicitation to sell a security. At the request of a recipient, the Company will provide a private placement memorandum, subscription agreement and the Limited
Liability Company Operating Agreement. Blue Lake in no way guarantees the projections contained herein. Real estate values, income, expenses and development
costs are all affected by a multitude of forces outside the the Company’s control. This investment is illiquid and only those persons that are able and willing to risk
their entire investment should participate. Please consult your attorney, CPA and/or professional financial advisor regarding the suitability of an investment by you.
2
TABLE OF CONTENTS
Investment Summary . . . . . . . . . . . . .. . . . . .01
Investment Highlights..................19
Property Overview.................35
Financial Analysis. . . . . . . . . . . . . . 43
Market Overview............. 59
Management Team........ 59
Contact Info............ 59
Glossary.......... 59
INVESTMENT
SUMMARY
INVESTMENT SUMMARY
ING
Blue Lake Capital has identified Traditions at Palm Aire, a 248-unit multi-family property located in 8445 Garden Circle,
Sarasota, FL 34243 for acquisition (“Property”). Blue Lake Capital is extending Investors the opportunity to invest in a BLC
Tradition Investors LLC, an entity that has been created to acquire the fee simple interest of the Property.
The Property is a 1991 institutional-quality asset that enjoys an exceptional A location, newly-renovated amenities, and an
interior renovation opportunity. The business plan is to renovate and modernize the unit interiors and common areas in
order to better compete with high-end luxury product while increasing rental rates and mitigating risk by pursuing a lowleveraged
agency loan of 65% LTV while capitalizing on today’s disproportionately low interest rates.
This private investment will be structured to be a turn-key solution for our investors and give them the opportunity to
participate in real estate partnerships. Cash flow distribution will be available monthly from rental and other operation
incomes of the Property to the extent after expenses, working capital reserves have been allocated. Our investors will
receive the cash distribution first. Blue Lake will be paid after an 8% annualized cash return are distributed to our
investors.
Property Information
Purchase Price $48,856,000
Units 248
Year Built 1991
Occupancy 94%
Hold Period
5 years
Investor Returns
Equity Multiple 1.78X
Average Annual Return* 25%
Cash on Cash** 7%
Internal Rate of Return (IRR) 16%
* includes proceeds from sale ** excludes proceeds from sale
The plan is to hold the Property for 5 years to maximize growth in equity value from operating income. Alternatively, Blue
Lake may refinance the acquisition debt in order to return most investor equity while continuing to realize returns over 8%.
The increase to the net operating income is anticipated to come from rent premiums from an interior renovation program
that has already been initiated by the current owner. Built in 1991, the Property benefits from quality construction and an
appealing amenity program that will help produce long-term sustainable leasing momentum.
WHY INVEST IN THIS DEAL?
OFF-MARKET DEAL BASED ON PRIOR RELATIONSHIPS
Even though Blue Lake was NOT the highest bidder on the property, it was awarded to us at price
lower by $744,000 than asking price, based on Ellie Perlman – Blue Lake’s ECO and founder’s,
prior relationship with the broker.
STRONG A+ LOCATION
Tradition at Palm Aire is located in the highly desirable, affluent submarket of Sarasota submarket
where rent growth in the past 12 months was 5.5%, and is expected to be 5.1% in 2020,
outperforming Tampa as a whole of 2.9%. Additionally, the property is strategically located only 3
miles from the Mall at University Town Center, a world-class fashion and dining destination that
features approximately 880,000 square feet of retail stores and restaurants. In addition, Tradition
at Palm Aire is located a few miles from the i-75 road, allowing quick access to jobs, restaurants,
retail and the Nathan Benderson Park.
TRUE VALUE ADD OPPORTUNITY
Tradition at palm Aire is a very well maintained property with a substantial value-add component.
Though the asset is of institutional quality and built in 1991, interiors finish-outs are more closely
comparable to an early 200’s year of construction; 88% of units are classic and many still have
white appliances without a microwave, old fixtures, dated countertops, and carpet throughout
the unit. Blue Lake will install modern apartment unit finishes such as stainless steel appliances,
vinyl plan flooring, new lighting and hardware, microwave, etc.
PROVEN TRACK RECORD
Together with our strategic partners, Blue Lake Capital owns over 2,000 units across the U.S. and
has successfully implemented value-add strategy throughout the Southeast. The Blue Lake team
has diverse background in multifamily acquisitions, lending, asset management, and value-add
execution.
SOLID RETURNS & COMMITMENT TO OUR INVESTORS
Investors will receive 7% Preferred Return. Thereafter, proceeds shall be split 75% to Investors
and 25% to the Managers.
We are projecting 7% Cash on Cash Returns (5 Year Average). Distributions will be paid monthly.
Blue Lake provides transparency and fully auditable operations.
CONSERVATOVE UNDERWRITING AND LOW RISK FINANCING: Blue Lake will secure a low
leveraged agency loan of 65% LTV with a fixed interest rate of approximately 3.6% with 5 full
years of interest only payments. This fixed-rate loan tremendously lowers the risk of interest rate
rise. Blue Lake Capital is raising $23M in funding for capital improvements and for contingency
and unexpected repairs.
EXIT STRATEGY: Blue Lake plans to hold the property for 5 years, and then to sell it to an
institutional buyer. Blue Lake will also examine refinancing prior to selling the property, as long as
it attainable. This is a conservative deal. We underwritten the deal at 50 basis points higher cap
rate at exit, to account for market fluctuations.
INVESTMENT
HIGHLIGHTS
INVESTMENT HIGHLIGHTTS
1
UNIT RENOVATION
Blue Lake plans to complete interior renovations for an expected budget of
$7,000 per unit. This will yield a premium of $150 per month rent for each
renovated unit. In addition, Blue Lake will add 74 Tech Packages s and charge $50
premium per unit.
5
LOW RISK LOAN
Blue Lake Capital will place a new fixed-rate loan with a 10 year term with a
conservative 65% LTV. The loan’s rate will be approximately 3.6% and will
carry 60 months of interest only payments and amortizes based on a 30 year
period.
2
EXTERIOR RENOVATION
The exterior at Tradition at Palm Aire requires only cosmetic touch-ups, such as
restriping the parking lot and renovate the Dog Park.
6
EXIT STRATEGY
Blue Lake Capital will seek to sell the properties in approximately 5 years to
an institutional buyer.
ENHANCE PROPERTY APPEAL
3
Blue Lake will improve the property’s appeal by cleaning the parking lot,
enhancement of the green areas and renovating the second floor in the clubhouse.
In addition, Blue Lake will rebrand the property.
Debt Financing*
Principal Balance $31,756,400
4
ADDITIONAL INCOME CREATION
• Pet Yards: many tenants own pets, and the demand for pet yards is high. Blue
Lake will build pet yards for first floor units and charge premium for it.
• RUBS (Ratio-Utility-Billback-System): Blue Lake will increase RUBS from 46% to
70% to match market standard.
• Smart Homes: Blue Lake will implement a smart home program (Nest) in all
units for a monthly premium of $50.
Loan to Purchase Price 65%
Interest Rate 3.6%
Fixed or Adjustable
Interest Only
Term
Fixed
60 months
10 years
Amortizing Period (Years) 30
• Valet Trash: Blue Lake will increase the valet trash fee to match comps fee.
* Subject to final lender approval
STRONG VALUE ADD POTENTIAL
Blue Lake
Renovation
Tradition at Palm Aire’s is well positioned for an implementation of a value-add
program to increase rents, since 88% of the units have not been renovated
and is subject to Blue Lake’s renovation program. On-going renovations in
comparable properties are achieving rental premiums of $150+ higher than
Tradition at Palm Aire. This proves the market is willing to pay a premium,
and that there is significant room for growth, both of which mitigate risk for
investors.
Current Unit
UPGRADES
$150
Avg. Premiums
• Granite countertops
• Stainless steel Appliances
• Modern interior color scheme
• Upgraded Fixtures & Hardware
• Painted Cabinet Doors
• Luxury Vinyl Plank Flooring
PET YARDS AND SMART HOME PACKAGES OFFER
IMMEDIATE UPSIDE
Blue Lake plans to add several revenue generating amenities:
1. Pet Yards to select units (1 st floor)
2. Smart Home Packages
3. Match fees to market, such as Valet Trash and Loft Fees.
These opportunities creating nearly $75,000 in additional annual
revenue per year.
CAPITAL EXPENDITURE BUDGET
Capital Expenditure Budget
Interior Rehab Total/Unit Total
Stainless Steel Appliances $1,750 $423,500
Paint Cabinets Doors and Granit Countertop $2,950 $728,650
Modern Fixture and Hardware Package $500 $92,500
Vinyl Wood Plank Flooring $1,250 $211,250
Microwave $250 $60,500
Smart Home Packages (74 units) $200 $14,800
Total Interior Rehab/Unit $6,956 $1,531,200
Exterior Rehab
Total
Rebranding $10,000
Dog Park $15,000
Landscaping $15,000
Roof Maintenance $220,000
Restriping Parking Lot $10,000
Pet Yards (50) $45,000
Total Exterior Rehab $315,000
Misc and Contingency (for interior or exterior renovations) $190,100
Total CapEx Budget $2,036,300
PROPERTY
OVERVIEW
COMMUNITY
AMENITIES
•Clubhouse/Leasing
Center with Cyber
Cafe
•24 Hour Fitness
Center
•Laundry Facility
•Playground
•Sports Court
•Heated Lap Pool
•Hot Tub
•Dog Park
•Tennis Court
•Car Care Center
•Two Beautiful Lakes
•Rocking Chair
Porches
UNIT FEATURES
•White Appliances
•Air Conditioner
•Dishwasher
•Efficient Appliances
•Lake Views
•Lanais
•Large Closets
•Refrigerator
•Vinyl Plank Flooring*
•Washer/Dryer
•Stainless Steel appliances*
* Select Units
UNIT MIX & FEATURES
Unit Mix & Current Market Rents
Units Unit Type Size (SF) Market Rent Effective Rent
Effective
Rent/SF
16 1BR 638 $0 $1,176 $1.84
16 1BR 709 $0 $1,150 $1.62
24 1BR 747 $0 $1,179 $1.58
24 1BR 834 $0 $1,233 $1.48
64 2BR 1,029 $0 $1,363 $1.32
64 2BR 1,132 $0 $1,366 $1.21
8 2BR 1,276 $0 $1,456 $1.14
32 3BR 1,254 $0 $1,518 $1.21
248 Total/Averages 1,001 $861 $1,331 $1.33
Unit Mix
UNIT MIX SUMMARY
Unit F inish N o. of Size In-place Mark et
Type Level
55%
13%
32%
1 Bedroom
2 Bedrooms
3 Bedrooms
FLOOR PLAN
1 BR/1 BA, 649 Sq Ft 1 BR/1 BA, 697 Sq Ft
1 BR/1 BA, 766 Sq Ft
1 BR/1 BA, 790 Sq Ft
2 BR/2 BA, 1,032 Sq Ft 2 BR/2 BA, 1,151 Sq Ft 3 BR/2 BA, 1,147 Sq Ft 3 BR/2 BA, 1,324 Sq Ft
FINANCIAL
ANALYSIS
PRO FORMA
Year 1 Year 2 Year 3 Year 4
May 2021 May 2022 May 2023 May 2024
REVENUE % Per Unit
Gross Potential Rental Revenue $4,540,731 100.00% 18,309 4,874,781 5,166,643 5,348,932
Vacancy (319,238) 7.03% (1,287) (308,436) (308,436) (308,436)
Loss to Lease (136,222) 3.00% (549) (73,122) - -
Concessions - 0.00% - - - -
Bad Debt (18,163) 0.40% (73) (19,499) (20,667) (21,396)
Model Unit (18,468) 0.41% (74) (18,468) (18,468) (18,468)
Employee Unit - 0.00% - - - -
Other Loss - 0.00% - - - -
Effective Rental Income 4,048,640 89.16% 16,325 4,455,256 4,819,073 5,000,633
OTHER INCOME
Other Income 177,441 3.91% $715 246,008 265,288 275,900
Utility Reimbursements (RUBS) 230,580 5.08% $930 230,580 239,808 249,396
Total Other Income 399,153 8.79% $1,609 476,588 505,096 525,296
Effective Gross Income 4,447,793 98.0% 17,935 4,931,844 5,324,169 5,525,929
EXPENSES FCM % Per Unit
Payroll (334,800) 7.53% 1,350 (338,416) (345,184) (352,088)
Repairs and Maintenance (192,200) 4.32% 775 (194,276) (198,161) (202,125)
Contract Services - 0.00% - - - -
Turnover (93,000) 2.09% 375 (94,004) (95,885) (97,802)
Utilities (229,400) 5.16% 925 (231,878) (236,515) (241,246)
General/Admin (62,000) 1.39% 250 (62,670) (63,923) (65,201)
Marketing (45,880) 1.03% 185 (46,376) (47,303) (48,249)
Insurance (147,776) 3.32% 596 (149,372) (152,360) (155,407)
Franchise Tax - 0.00% - - - -
Other - 0.00% - - - -
Real Estate Taxes (604,095) 13.58% 2,436 (739,473) (770,143) (802,010)
Property Management Fee (133,434) 3.00% 538 (147,955) (159,725) (165,778)
Total Expenses (1,842,584) 41.43% 7,430 (2,004,419) (2,069,199) (2,129,906)
Net Operating Income 2,553,951 57.4% 10,298 2,927,425 3,254,970 3,396,023
PROJECTED RETURNS
Equity Structure
Preferred Return 7%
Equity Split from Cash Flow
Investors 75%
Blue Lake Capital 25%
Ownership Structure
Up to 16% IRR 75%-25%
Above to 16% IRR 75%-25%
Investor Returns Based on $1,000,000Investment
Investment Year 1 Year 2 Year 3 Year 4
Investor Annual Percent Return 4.94% 6.65% 8.16% 8.55%
Investor Return from Operations ($1,000,000) $49,379 $66,517 $81,584 $85,501
Investor Return from Sale $1,493,442
Investors will receive the cash distributions first. Blue Lake will be paid after an 8% annualized cash
return are distributed to our Investors.
Investor Returns
Equity Multiple 1.78X
Average Annual Return* 25%
Cash on Cash** 7%
Internal Rate of Return (IRR) 16%
* includes proceeds from sale ** excludes proceeds from sale
MANAGEMENT
TEAM
MANAGEMENT TEAM
Blue Lake Capital specializes in buying value-add apartment communities and apply a comprehensive
plan to increase profitability. The Company has focus across strong markets such as Texas and Florida.
Blue Lake Capital is a results-oriented company that has in-depth experience from beginning to end in
all aspects of real estate, such as uncovering off-market opportunities, identifying and implementing
unique investment strategies, financial analysis, value enhancement, property management, debt and
equity financing, cash flow optimization and value growth.
ELLIE PERLMAN, CEO & FOUNDER
The founder of Blue Lake Capital, Ellie Perlman, has over 10 years of experience in real estate investment, law,
and property management. Ellie started her career in Israel as a commercial real estate lawyer, leading
commercial real estate transactions for Israel’s largest development company. Later, as a property manager
for one of Israel's most prominent oil and gas companies, she oversaw properties worth over $100M.
Ellie owns, along with her partner, both passively and actively over 2,000 units across the U.S. worth over
$250M.
Ellie is a Forbes author on real estate investing, the host of the podcast “REady2Scale” and an avid real estate
investing blogger at www.ellieperlman.com.
Ellie holds an MBA from MIT Sloan School of Management Bachelor's and Masters in Law from Bar-Ilan
University in Israel.
MANAGEMENT TEAM
Blue Lake Capital specializes in buying value-add apartment communities and apply a comprehensive
plan to increase profitability. The Company has focus across strong markets such as Texas and Florida.
Blue Lake Capital is a results-oriented company that has in-depth experience from beginning to end in
all aspects of real estate, such as uncovering off-market opportunities, identifying and implementing
unique investment strategies, financial analysis, value enhancement, property management, debt and
equity financing, cash flow optimization and value growth.
JOHN HARRISON, ACQUISITIONS MANAGER
As Manager of Acquisitions for Blue Lake Capital, John is responsible for the company’s acquisitions and asset
management. He is Level 3 CFA candidate who has developed a passion for multifamily investing.
Professionally, John strives to execute transactions in order to exploit the risk-adjusted return potential and
diversification benefits of various arbitrage strategies prevalent in the multifamily apartment sector. Prior to
Blue Lake, John worked as a multifamily debt underwriter with Arbor Realty Trust, a nationally recognized
multifamily GSE financing firm.
Academically, John has spent over 3 years in pursuit of the Chartered Financial Analyst® designation and holds
a Bachelor's Degree in Business Administration with a dual concentration in Finance & Economics from Babson
College. During his time at Babson, John was also a member of the Men's NCAA Division III Lacrosse Program.
MANAGEMENT TEAM
Blue Lake Capital specializes in buying value-add apartment communities and apply a comprehensive
plan to increase profitability. The Company has focus across strong markets such as Texas and Florida.
Blue Lake Capital is a results-oriented company that has in-depth experience from beginning to end in
all aspects of real estate, such as uncovering off-market opportunities, identifying and implementing
unique investment strategies, financial analysis, value enhancement, property management, debt and
equity financing, cash flow optimization and value growth.
JEANNETTE ROBINSON, DIRECTOR - INVESTOR RELATIONS
As the Director of Investor Relations, Jeannette Robinson is responsible for facilitating the company’s strategy,
growth opportunities, and business initiatives with Blue Lake Capital’s investor community. She manages
consistent communications and provides support and oversight with all investor relations.
Prior to joining Blue Lake, Jeannette worked as Chief Relationship Officer for a technology-based company
focused on providing support to the veteran community. Jeannette has more than 20 years’ experience in
volunteering and working with non-profits, where she specialized in donors relations. She has received
numerous awards and honors for leadership, most recently named “Woman of the Year” by Operation Supply
Drop for her work and service to the veteran community.
Jeannette received her BAAS from Howard Payne University, and spends her free time serving as a passionate
advocate for children with disabilities.
MANAGEMENT TEAM
Blue Lake Capital specializes in buying value-add apartment communities and apply a comprehensive
plan to increase profitability. The Company has focus across strong markets such as Texas and Florida.
Blue Lake Capital is a results-oriented company that has in-depth experience from beginning to end in
all aspects of real estate, such as uncovering off-market opportunities, identifying and implementing
unique investment strategies, financial analysis, value enhancement, property management, debt and
equity financing, cash flow optimization and value growth.
JEN BELUCCI, MARKETING MANAGER
Jen leads the marketing arm of Blue Lake Capital, and communicates the company’s mission and vision across
all social media platforms. She develops and executes marketing campaigns and responsible for expanding
Blue Lake’s brand by applying various marketing methods and data analytics tools.
Jen brings a solid and diverse background in social media marketing, campaign management and online
communications. She received a Bachelor’s in Science and Master’s in Art from the University of
Massachusetts.
MANAGEMENT TEAM
FIRST COMMUNITIES - PROPERTY MANAGEMENT COMPANY
First Communities Management (FCM) is one of the nation’s most successful apartment management companies. Founded in 1978, FCM has managed over 200,000
units and 1,000 communities, worth over $1B in assets. First Communities market reach has grown to include some of the industry’s most exciting submarkets
including Texas, Florida, Georgia, Washington, DC, South Carolina, and more.
First Communities diverse client family includes national banks, insurance and pension funds, syndicators, individual investors, HUD, FDIC, Freddie Mac, and Fannie
Mae. They are widely recognized as a market leader in the property management of Class A, B, C and Tax Credit communities. They are experienced managers in both
core, core-plus and value add multifamily properties.
The company maximizes growth in Net Operating Income through occupancy gains, elimination of concessions, improving resident retention rates and being vigilant
with rental rates. They are experts in implementing value add plans in class B/C multifamily properties across the U.S.
GLOSSARY
Accredited Investor – An investor who has net worth requirements and/or income requirements set forth by the SEC, and has knowledge and/or
experience in financing and business matters and are capable of evaluating the merits and risks of the prospective investments
Sophisticated Investor – A person that does not meet accredited investor requirements however has knowledge and experience in financing and
business matters and is capable of evaluating the merits and risks of the prospective investments.
Capitalization Rate (Cap Rate) – A rate of return on a real estate investment property based on the expected income that the property will generate.
Cap Rate is calculated by dividing the income the property will generate (after expenses) by the value of the property. The higher the Cap Rate, the
lower the property value (price), and the lower the Cap Rate, the higher the property value is.
Cash Flow – Cash generated from the operations of a company, and defined as revenue minus expenses and debt payment.
Cash on Cash – An annual return on investor’s investment. Cash on Cash return is calculated: Annual Cash Flow / Initial Investment
Debt Service Coverage Ratio (DSCR) – The multiples of cash flow available to meet annual interest and principal payments on debt . This ratio should
ideally be over 1. That would mean the property is generating enough income to pay its debt obligations.
Internal Rate of Return (IRR) - The rate of return that would make the present value of future cash flows plus the final market value of an investment
opportunity equal the current market price of the investment or opportunity. The higher a project's internal rate of return, the more desirable it is to
undertake the project.
Return on Equity (ROE) – The amount of net income returned as a percentage of shareholders equity. ROE is expressed as a percentage and
calculated as: Net Income / Shareholder's Equity
This document is confidential and may not be reproduced or redistributed. The information presented herein has been prepared for informational purposes only and is not an offer to buy or sell, or a solicitation of an offer
to buy or sell any security or fund interest or any financial instrument and is not to be considered investment advice. This presentation is for institutional use only and is not to be distributed to any party other than its
intended recipient.
The following materials present information regarding a proposed creation of a special purpose vehicle (the "Issuer") which would offer securities (the “Securities”) to finance its acquisition of a portfolio of financial assets to
be selected and managed by the portfolio manager referred to herein (the "Manager"). These materials have been prepared to provide preliminary information about the Issuer and the transactions described herein to a
limited number of potential underwriters of the Securities for the sole purpose of assisting them to determine whether they have an interest in underwriting the Securities.
The views and opinions expressed in this presentation are those of Blue Lake Capital LLC (“Blue Lake Capital” or “Company”) and are subject to change based on market and other conditions. Although the information
presented herein has been obtained from and is based upon sources Blue Lake Capital believes to be reliable, no representation or warranty, expressed or implied, is made as to the accuracy or completeness of that
information. No assurance can be given that the investment objectives described herein will be achieved. Reliance upon information in this material is at the sole discretion of the reader.
This data is for illustrative purposes only. Past performance of indices of asset classes does not represent actual returns or volatility of actual accounts or investment managers, and should not be viewed as indicative of
future results. The investments discussed may fluctuate in price or value. Investors may get back less than they invested.
Forward-looking information contained in these materials is subject to certain inherent limitations. Such information is information that is not purely historical in nature and may include, among other things, expected
structural features, anticipated ratings, proposed or target portfolio composition, proposed diversification or sector investment, specific investment strategies and forecasts of future market or economic conditions. The
forward-looking information contained herein is based upon certain assumptions, which are unlikely to be consistent with, and may differ materially from, actual events and conditions. In addition, not all relevant events or
conditions may have been considered in developing such assumptions. Accordingly, actual results will vary and the variations may be material. Prospective investors should understand such assumptions and evaluate
whether they are appropriate for their purposes. These materials may also contain historical market data; however, historical market trends are not reliable indicators of future market behavior.
Information in these materials about the Manager, its affiliates and their personnel and affiliates and the historical performance of portfolios it has managed has been supplied by the Manager to provide prospective
investors with information as to its general portfolio management experience and may not be viewed as a promise or indicator of the Issuer's future results. Such information and its limitations are discussed further in the
sections of these materials in which such information is presented.
Past performance of indices or asset classes does not represent actual returns or volatility of actual accounts or investment managers and should not be viewed as indicative of future results. The comparisons herein of the
performances of the market indicators, benchmarks or indices may not be meaningful since the constitution and risks associated with each market indicator, benchmark, or index may be significantly different. Accordingly,
no representation or warranty is made to the sufficiency, relevance, important, appropriateness, completeness, or comprehensiveness of the market data, information, or summaries contained herein for any specific
purpose.
Past performance is not indicative of comparable future results. Given the inherent volatility of the securities markets, it should not be assumed that investors will experience returns comparable to those shown here.
Market and economic conditions may change in the future producing materially different results than those shown here. All investments have inherent risks.
Blue Lake Capital LLC. All Rights Reserved. No part of this document may be reproduced, stored, or transmitted by any means with the express written consent of Blue Lake Capital.
CONTACT INFORMATION
BLUE LAKE CAPITAL
ELLIE PERLMAN
CEO & FOUNDER
+1 401 477 9804
ellie@bluelake-capital.com
JEANNETTE ROBINSON
DIRECTOR, INVESTOR RELATIONS
+1 210 740 5431
jeannette@bluelake-capital.com
312 Arizona Ave, Santa Monica,
CA 90401
PHONE: +1 323 283 9846
FAX: +1 419 931 1398
www.ellieperlman.com
www.bluelake-capital.com