Size: 155,622 s.f. retail center 
Location: Margate (Broward County), FL 
Description: Retail center with two out-parcels (existing bank and future development) 
Penn Dutch Grocer, Florida Career College, YouFit Health Club, Bright Star Credit Union

Status at Purchase:

Date: October 16, 2015 
Occupancy: 92% 
Purchase Price: $18,500,000 ($119 psf / 7.8% cap rate)

Four-Part Business Plan:

Stabilize Tenancy:
Negotiate lease extensions with major tenants having upcoming renewals and lease vacant space. 

Capture Outparcel Value: 
Existing bank outparcel: sell separately at a compressed cap rate. New outparcel: develop and collect ground lease or sell separately.

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

Increase NOI: Increase NOI by 28% over a five year holding period. 

Investment Returns:

Equity Invested: $7,067,600 

Forecast Investor Returns:
10%+ current cash-on-cash
17+% IRR over five year hold;
Investment Multiple:  2.0