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TAMPA-ST. PETE DEVELOPMENT CONFERENCE. Nicholas Husak Engler Financial Group. Overview. EFG Introduction Investment Sales Update Sourcing JV Development Equity. 2012 TAMPA ST. PETE DEV CONFERENCE. Raising JV Development Equity. DEVELOPER. EQUITY PARTNER.

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TAMPA-ST. PETE

DEVELOPMENT CONFERENCE

Nicholas Husak

Engler Financial Group


Overview

EFG Introduction

Investment Sales Update

Sourcing JV Development Equity

2012 TAMPA ST. PETE DEV CONFERENCE


Raising JV Development Equity

DEVELOPER

EQUITY PARTNER

2012 TAMPA ST. PETE DEV CONFERENCE

JV Development Update


Investment Sales Activity

Tampa, FL

2012 TAMPA ST. PETE DEV CONFERENCE

Investment Sales Update


Seneca at Cypress Creek

Tampa, FL

2012 TAMPA ST. PETE DEV CONFERENCE

Investment Sales Update


Investment Sale

Seneca at Cypress Creek

Tampa, FL

DEAL SPECIFICS

Broker

Sale Date

Year Built

No. of Units

Average Sq. Ft.

In Place Effective Rent

Rent/Sq. Ft.

Price/Unit

Cap Rate (T3 Inc./T12 Exp.)

EFG

Sept 2012

2010

451

1059

$1,134

$1.07

$138,027

5.35%

2012 TAMPA ST PETE DEV CONFERENCE

Investment Sales Update


Investment Sale

Villas at Gateway

St. Petersburg, FL

2012 TAMPA ST. PETE DEV CONFERENCE

Investment Sales Update


Investment Sale

Villas at Gateway

St. Petersburg, FL

DEAL SPECIFICS

Broker

Sales Date

Year Built

No. of Units

Average Sq. Ft.

In Place Effective Rent

Rent/Sq. Ft.

Price/Unit

Cap Rate (T3 Inc./T12 Exp.)

EFG

Nov 2012

2004

300

994

$1078

$1.08

$120,000

5.25%

2012 TAMPA ST PETE DEV CONFERENCE

Investment Sales Update


Investment Sale

Estates at Countryside

Clearwater, FL

2012 TAMPA ST. PETE DEV CONFERENCE

Investment Sales Update


Investment Sale

Estates at Countryside

Clearwater, FL

DEAL SPECIFICS

Broker

Sales Date

Year Built

No. of Units

Average Sq. Ft.

In Place Effective Rent

Rent/Sq. Ft.

Price/Unit

Cap Rate (T3 Inc./T12 Exp.)

EFG

Nov 2012

1998

320

1000

$865

$0.86

$92,187

5.40%

2012 TAMPA ST PETE DEV CONFERENCE

Investment Sales Update


Pier House

Developed by Related Group of Florida

Tampa, FL

2012 TAMPA ST. PETE DEV CONFERENCE

JV Development Update


Bayway Apartments

Developed by MCRT

St. Petersburg, FL

2012 TAMPA ST. PETE DEV CONFERENCE

JV Development Update


Broadstone Hyde Park

Developed by Alliance Residential

Tampa, FL

2012 TAMPA ST. PETE DEV CONFERENCE

JV Development Update


JV DEVELOPMENT EQUITY

Market Terms

Southeast US Q 4 2012

Return on Cost

Debt

Equity

Coinvestment (Dev Equity)

Returns / Promotes

6.5 - 7.75%

55 - 70%

30 - 45%

5 - 20%

8 – 10% Pref

70 / 30 to a 15-17%

60 / 40 to a 17-20%

50 / 50 thereafter

2012 TAMPA ST. PETE DEV CONFERENCE

JV Development Update


JV DEVELOPMENT EQUITY

Market Terms

Southeast US Q 4 2012

Put / Call

Completion Guarantee

Post Completion Guarantees

Development Fees

GC Fees

Management Fees

Yes

Yes

Yes

3-5%

5-6%

3%

2012 TAMPA ST. PETE DEV CONFERENCE

JV Development Update


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