CURRENT INVESMENTS

1501 Northpoint is a 5 tenant, 70K sqft industrial property in W Palm Beach. The manager plans to re-lease the property over next 5 years to improve rents by 50% and sell at similar cap rate of 5.5%.

Ankeny, Iowa Multi-Family acquisition direct from developer. 93-unit townhouse with above market rents with target 2.2x MOIC in 7-years.

Invest in existing business and provide growth capital for 3rd leg of growth (Taco Bell acquisition?)

Timber Lake is a $30m multi-family acquisition with nearly $6m renovation budget to improve rents by 11-13% in East Lansing. The investment will produce >15% IRR on a conservative underwriting base case while leaving room for significant improvements both inside the units and for the exterior of the property.

Smart cart with initial interest from Amazon is key commercial opportunity with concessions on first large launch.

Cranbury is an 11-acre, 2 building open industrial storage area in Cranbury, NJ that should lease up for $10-15K/acre for a stabalized cap rate of 11-12%.

Pacifica Union is a 10 building, 108 unit industrial real estate site in Colorado. The manager plans to release units over next several years to drive better returns.

Needs $1.2m to buy equipment and working capital for first commercial level expansion that could lead to $10m of revenue in a year.

Tiseo Paving is a family-owned paving business based in Texas. Deal would replace CEO with external hire, overall price about $60-70m ($11m of EBITDA) with $40-50m of equity required.

143 Franklin is a luxury apartment development with 5-units (4 base units at $14-16m and penthouse at $35m). The company is offering $4-9m of preferred equity at 14-18% to finalize their financing.