CURRENT INVESTMENT – GARDEN OF THE GODS PLAZA
GARDEN OF THE GODS PLAZA
Size: 96,322 s.f.
Location: Colorado Springs, CO
Description: Multi-tenant retail and flex industrial/office
Status at Purchase:
Date: November 15, 2019
Purchase Rate: $11,540 ($120 psf / 8.0% cap rate)
Three-Part Business Plan:
Lease vacant spaces and stabilize tenancy.
Reduce Operating Expenses:
Actively manage property utilizing SunCap’s platform and key vendor relationships in order to reduce operating expenses.
Improve NOI by 26% over the five year holding period.
Forecast Investor Returns:
10+% average current cash-on-cash
14+% IRR over five year hold
Investment Multiple: 1.7