Please Contact Jay Yager directly for current financials, too much to include here.
PROJECTED FIGURES FOR HIGHEST AND BEST USE:
ADULT LIFE ESTATES |
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ASSUMPTIONS: |
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73 ACRES @ 11 APARTMENT/CONDO UNITS PER ACRE; 803 Unit Development (1,000 sq.ft./unit) |
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Projected Sales Price for Two Bedroom Apartments/Condos With Life Estate Tenancy |
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$50,000 per adult person life rental/sale |
No rental to anyone less than 65 years of age |
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Life Expectancy Information Obtained From California Continuing Care Rertirement Community (CCRC) |
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Mortality Data Inflationary Adjustment Calculated At Less Than .5% per year |
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1st TERM LEASE-UP/SELLOUT |
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FIRST 24 MONTHS |
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Projected Total Sales Over 24 Month Construction Sellout-1st Term Leases/Sales: $40,150,000 |
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Less: |
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Projected Total Cost |
$19,575,000.00 |
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Gross Profit: |
$20,575,000.00 |
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Less: |
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Marketing Expenses |
$500,000.00 |
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Net Profit From 1st Term Sales |
$20,075,000.00 |
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Less Land Cost |
$12,000,000.00 |
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Net Cash After Construction & 1st Term Sellout |
$7,075,000.00 |
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2nd TERM LEASE-UP/SELLOUT |
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YEARS 15-30 |
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Projected Total Sales |
$40,150,000.00 |
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Inflationary Adjustment |
$4,350,493.00 |
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Renovation Cost: Estimated $5,000.00/Apartment |
$4,015,000.00 |
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Marketing Costs |
$550,000.00 |
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Total 2nd Term Net Profit |
$49,065,493.00 |
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3rd TERM LEASE-UP/SELLOUT |
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YEARS 45-60 |
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Projected Total Sales |
$40,150,000.00 |
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Inflationary Adjustment |
$8,990,441.00 |
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Renovation Cost: Estimated $5,000.00/Apartment |
$4,015,000.00 |
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Marketing Costs |
$550,000.00 |
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Total 3rd Term Net Profit |
$53,705,441.00 |
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| Grand Total | $115,845,934 |
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