RECENT INVESTMENT - TURTLE CROSSING

Turtle Crossing

Type: 99,174SF shopping center 
Location: Coral Springs, Florida 
Purchase Price: $27,350,000

Property Description:

Size: 99,174 s.f. 
Location: Coral Springs, FL
Major Tenants: Super Target (shadow), Tuesday Morning, Buffalo Wild Wings, Auto Zone, Visionworks, Panda Express, Chipotle, Jersey Mikes, AT&T, Panera Bread, GNC, Game Stop

Status at Purchase:

Date: March 3, 2017
Occupancy: 86%
Purchase Price: $27,350,000 ($276 psf / 7.15% 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: $10,454,000

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