CURRENT INVESTMENT – NORTHRIDGE BUSINESS CENTER

NORTHRIDGE BUSINESS CENTER

Status at Purchase:

Date: December 23, 2020
Occupancy: 92%
Purchase Rate: $18,500,000 ($106 psf / 6.9% cap rate)

Business Plan:

Implement Capital Improvements Plan:
Address significant deferred maintenance.

Stabilize Tenancy:
Lease large vacancy.

Increase NOI:
Actively manage property utilizing SunCap’s platform and key relationships in order to increase NOI by 34% over the five-year holding period.

Investment Returns:

Equity Invested:
$8,191,000

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