Size: 75,831 s.f.
Location: Denver, CO
Major Tenants: YouFit, Mountain High Appliance, Total Wine (outparcel), Andy’s Frozen Custard (outparcel)

Status at Purchase:

Date: June 26, 2018
Occupancy: 87%
Purchase Rate: $10,850,000 ($143 psf / 8.0% cap rate)

Four-Part Business Plan:

Implement Capital Improvement Plan: 
Address deferred maintenance, new monument sign.

Sell Outparcels:
Sell Andy’s outparcel (at a lower cap rate than purchase) and potentially sell two additional pad sites.

Reduce Operating Expenses:
Actively manage property utilizing SunCap’s platform and key vendor relationships in order to reduce operating expenses

Increase NOI:
Improve NOI by 17% over the five year holding period.

Investment Returns:

Equity Invested: $4,772,000

Forecast Investor Returns
9+% current cash-on-cash
15+% IRR over five year hold
Investment Multiple: 1.8