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
Occupancy: 84%
Purchase Rate: $11,540 ($120 psf / 8.0% cap rate)
Three-Part Business Plan:
Stabilize Tenancy:
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.
Increase NOI:
Improve NOI by 26% over the five year holding period.
Investment Returns:
Equity Invested:
$5,145,000
Forecast Investor Returns:
10+% average current cash-on-cash
14+% IRR over five year hold
Investment Multiple: 1.7