vista at simi valley offering memorandum€¦ · the vista at simi valley is a newly construction...
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Offering Memorandum
Vista At Simi ValleyAssisted Living | Memory Care InvestmentSimi Valley | California | 93065
By accepting this Offering Memorandum, the party in possessionhereof agrees (i) to return it to Owner/Agent immediately uponrequest and (ii) that this Offering Memorandum and its contents areof a confidential nature and will be held and treated in strictconfidence. No portion of this Offering Memorandum may becopied or otherwise reproduced or disclosed to anyone without theprior written authorization of officer of Owner/Agent. Principals andreal estate brokers are prohibited from disseminating thisinformation without the specific written consent of an officer ofOwner/Agent.
This Offering Memorandum is subject to errors, omissions, changesor withdrawal without notice and does not constitute arecommendation or endorsement as to the value of the property asa reference and are based on assumptions proposed byOwner/Agent and their sources. Prospective purchasers shouldmake their own projections and reach their own conclusion ofvalue.
Certain portions of this Offering Memorandum merely summarizeor outline property information and are in no way intended to becomplete nor necessarily accurate descriptions. All prospectivepurchasers are to rely upon their own investigations and duediligence in the formation of their assessment of the condition ofthe property, including engineering and environmental inspections.All relevant documents are expected to be reviewed independentlyby any prospective purchaser.Neither Owner nor the Agent nor any of their respective officers,advisors, agents, or principals has made or will make any
representations or warranties, expressed or implied, as to theaccuracy or completeness of the Offering Memorandum or any ofthe contents, and no legal commitment or obligations shall arise byreason of the Offering Memorandum or the contents. Analysis andverification of the information contained in the OfferingMemorandum is solely the responsibility of the prospectivepurchaser.
Owner reserves the right to reject any or all expressions of interestor offers to purchase this property, as well as the right to terminatediscussions with any party at any time with our without notice.Owner shall have no legal commitment or obligation to anypurchase reviewing this Offering Memorandum or making an offerto purchase this property unless a written agreement for thepurchase of the property has been fully executed, delivered andapproved by Owner and any conditions to Owner’s obligationsthereunder have been satisfied or waived.
The terms and conditions set forth above apply to this OfferingMemorandum in its entirety.
CONFIDENTIALITY AGREEMENT
3
PROPERTY OVERVIEW
Purchase Price: $25,950,000 | 95-unit Assisted Living (105 Beds) ProjectPeak Commercial and Anvers Capital Partners is pleasedto offer for sale to qualified investors a Newly built 105Bed Senior Housing project located in the city of SimiValley.
The subject, identified as The Vista at Simi Valley is aproposed 95-unit assisted living residence. Theimprovements will be completed in 2020, will be in newcondition, and situated on a 1.39-acre site. The physicaladdress is 1236 Erringer Road, Simi Valley, Ventura
County, California. The property will contain a unit mix of75 assisted and 20 memory care units (30 beds).
Project Amenities include a Central Community DiningRoom, game room, arts and craft room, library/computercenter, media room, lounge area, Elevator Access, Laundryfacilities, heath and wellness center, resident storage, mailroom, outside patios/walking areas, gardening areas, andmore.
Investment HighlightsNewly Built 2020 Construction.Property Construction will finish in the fall of 2020. Property to be delivered vacant, and ready for occupancy.
Strong Location | High Barriers to Entry.Property is strategically located on Erringer Road in Simi Valley, on of the busiest streets in the City.
High Quality Construction with various building and in-suite amenities.Brand new 2020 construction, to be delivered ready for occupancy. Class-A build with various amenities.
Strong Physical Location amongst mostly single family homesLocated on Erringer Road near Arcane St, the subject property is nestled in a pocket of Simi Valley consisting of mostly single family homes.
Various Exit StrategiesIdeal investment upon stabilization, either for continued cash flow, or disposition.
Affluent Location With Favorable DemographicsAverage household of income of $120,420 within a 3 mile radius with a median home value of $652,620 and a population of 82,48 2.
Vista At Simi Valley | Simi Valley CA
PROEPRTY OVERVIEW
PROPERTY OVERVIEW
Vista At Simi Valley | Simi Valley CA
Units BedsUnit of
Measure
Revenue
Units
Assisted Living 75 75 Units 75
Memory Care 20 30 Beds 30
Total 95 105 105
Primary Unit of Measure
Executive Summary
Location:
Property Name The Vista at Simi Valley
Website: http://www.vistasimivalley.com
Total SqFt: 48,437 (To be determined)
Land Area: 1.39 AC
Number of Buildings: 1
No. Of Stories 2
APN # 0284-201-31-0000
Year Built 2020
Total Units: 95
Total Beds: 105
Use Code: Senior Housing
Property IdentificationThe Vista at Simi Valley is a newly construction assisted living project. The imporvements will
be completed in new conidtion, and situated on a 1.39-acre site. The physical addres is 1236
Erringer Road, Simi Valley, Ventura County, Caifornia. The property will contain a unit mix of
75 assisted and 20 memory care units (30 beds).
1234 Erringer Road, Simi Valley,
Ventura County California 93065
5
5 PROPERTY DEMOGRAPHICS Vista At Simi Valley | Simi Valley CA
Project AmenitiesProperty and unit amenities for the subject property are summarized below.
• Central Community Dining room• Private • Private Dining Room• Game room• Arts & Craft room• Library/Computer center• Beauty/Barber Shop• Media room• Multi-Purpose Room• Lounge Areas• Elevator Access to All Areas
• Laundry Facilities• Trash room• Health and Wellness Center• Resident Storage• Mail room• Outside Patios/Walking Areas• Gardening Areas
The following are the individual living unit amenities and features that are being offered at the subject:
• 24-Hour Emergency Response System• Telephone Outlets• Individual Heating/Colling Controls• Wall-to-Wall Carpeting/Vinyl Flooring• Kitchenettes (AL units)
• Drapes/Window Treaments/Mini blinds• Private Baths• Showers with a Seat and Grab Bars and/or Tub
Shower Combination
INVESTMENT WRITE-UP
INVESTMENT OVERVIEW
The seniors housing and care industry provides accommodation, as well as anarray of services and program options to seniors. The demand for theseproperties is primarily driven by the segment of the seniors population overthe age of 75. The level of services and variety of options available to theseniors housing marketplace continues to evolve as the needs, preferencesand demands of seniors and their families change.
The types of properties that facilitate the delivery of accommodation and careservices to seniors are typically divided into four primary categories:independent living ("IL"), assisted living ("AL"), memory care ("MC") and long-term care ("LTC"). Seniors housing and care properties also include continuingcare retirement communities ("CCRCs"), which typically offer all of the carelevels noted above on a single campus. These property types are collectivelyreferred to as “seniors housing.”
The subject property is located in Simi Valley, Ventura County, California.Simi Valley is most influenced by trends impacting the Oxnard-ThousandOaks-Ventura, CA Metropolitan Statistical Area (MSA).
The immediate neighborhood is supportive of the subject’s proposed use asseniors housing. Development is limited within the subject’s neighborhood.There are some healthcare providers in the neighborhood that are supportiveof the subject with alternate care levels, although primarily residentialhousing which has either seniors or adult children that can act as a feeder.The neighborhood is considered to be in a stage of balance having a favorableimpact on the subject property.
Primary access to the neighborhood is provided the Ronald Reagan (118)Freeway. The Ronald Reagan Freeway is located within one mile north of thesubject. It is an east/west trending freeway connecting with Interstate 405 tothe east and the Moorpark (23) Freeway to the west. Surface street access tothe neighborhood is provided by Los Angeles Avenue, Cochran Street, ErringerRoad, Sycamore Drive and First Street.
The subject consists of a mixture of residential, commercial/retail, andrecreational uses. Directly to the north, south and east of the subject arereligious oriented uses. Additional uses near the subject are primarily single-family in nature. Further north across Los Angeles Avenue are establishedsingle- family residential neighborhoods in the city of Simi Valley. The areaalso includes multi-family uses. Some commercial/retail is found to thenorthwest, north of Los Angeles Avenue.
The following table summarizes the area hospitals and their respectivelocation in relation to distance from the subject:
INVESTMENT WRITE-UP
Vista At Simi Valley | Simi Valley CA
Miles From
SubjectBeds
2.17 143
7.94 382
8.56 228
Hospital Summary
Simi Valley Hosp. & Health Care
Los Robles Hosp. & Medical Center
West Hills Hops. & Medical Center
Hospital Summary
7 PROPERTY DEMOGRAPHICS Vista At Simi Valley | Simi Valley CAProperty Information Cap Rate Analysis Financing Assumptions
Sale Price: $25,950,000 As- Is Purchase Price $25,950,000 ALL CASH ANALYSIS
Number of Units: 95 As-Is Stabilized Cap Rate: 8.40%
Number of Beds: 105
Cost Per Bed: $247,143
Approx. Age: 2020 Additional Cash Infusion: $1,911,056
Apx SqFt: 48,437 Total Price: $27,861,056
Apx Unit SqFt: 26,363 Price Per SqFt (TP): $575.20
Price Per SqFt: $536 Price Per Bed (TP): $265,343
Approx. Lot Size: 1.39 AC Cap Rate (TP): 7.82%
Parking: Open Lot
Scheduled Income Estimated Expenses
No. Of
Beds
% of
Total Unit Type Unit SF Avg. Rent
Rent
PSF
Monthly
IncomeExpense Amount Per Unit
Per
Bldg. SF
% of
SGI
57 54% 0+1 AL 270 $3,595 $13.29 $204,915 Real Estate Taxes $259,500 $2,471 $5.36 5.25%
18 17% 1+1 AL 376 $4,495 $11.96 $80,910 Property Insurance $50,916 $485 $1.05 1.03%
Utilities $160,022 $1,524 $3.30 3.24%
10 10% 0+1 MC 230 $4,795 $20.82 $47,950 Administrative & General $309,133 $2,944 $6.38 6.26%
20 19% Shared MC 230 $3,895 $16.91 $77,900 Marketing $61,827 $589 $1.28 1.25%
Resident Care $1,436,560 $13,682 $29.66 29.08%
105 100% $3,920.71 $9.27 $411,675 $4,940,100 Culinary Services $618,266 $5,888 $12.76 12.52%
Level of Care Fees (Middle Tier Service Per Bed) $120,000 Laundry & Housekeeping $141,838 $1,351 $2.93 2.87%
Community Fees ($85 per Bed) $8,925 Repairs & Maintenance $141,838 $1,351 $2.93 2.87%
Other Income ($95 Per Bed) $9,975 Programing $114,561 $1,091 $2.37 2.32%
Monthly Scheduled Gross Income: $550,575 Payroll Taxes & Benefits $481,884 $4,589 $9.95 9.75%
Annualized Scheduled Gross Income: $6,606,900 Management Fee $305,792 $2,912 $6.31 6.19%
Replacement Reserve: $15,750 $150 $0.31 0.32%
Annualized Operating Data Current Monthly
Scheduled Rental Income: $4,940,100 $411,675
Additional Income: 1,666,800 138,900
Less Vacancy Rate Reserve: (330,345) (27,529)
Gross Operating Income: 6,276,555 523,046
Less Operating Expenses: 4,097,887 62.02% 341,491
Net Operating Income: $2,178,668 $181,556
TOTAL OPERATING EXPENSES: $4,097,887 $39,027 $84.58 82.95%
Expense Ratio: 62.02%
Total Price Indicators
5.0%
8 Unit Breakdown Vista At Simi Valley | Simi Valley CAUnit # Type Layout Size Unit # Type Layout Size Unit # Type Layout Size
101 MC Studio 253 134 AL Studio 276 225 MC Studio 301
102 MC Studio 219 135 AL Studio 264 226 MC Studio 285
103 MC Studio 223 136 AL Studio 216 227 MC Studio 287
104 MC Studio 254 137 AL Studio 266 228 MC Studio 271
105 MC Studio 254 138 AL Studio 266 229 MC Studio 317
106 MC Studio 220 139 AL Studio 216 230 MC 1+1 388
107 MC Studio 220 140 AL Studio 265 231 MC Studio 285
108 MC Studio 236 141 AL Studio 277 232 MC Studio 304
109 MC Studio 199 142 AL 1+1 471 233 MC Studio 304
110 MC Studio 272 201 AL 1+1 403 234 MC 1+1 343
111 MC Studio 220 202 AL Studio 254 235 MC 1+1 343
112 MC Studio 220 203 AL Studio 246 236 MC Studio 275
113 MC Studio 236 204 AL Studio 249 237 MC Studio 275
114 MC Studio 248 205 AL Studio 255 238 MC Studio 316
115 MC Studio 220 206 AL Studio 258 239 AL Studio 258
116 MC Studio 221 207 AL Studio 250 240 AL Studio 289
117 MC Studio 224 208 AL Studio 250 241 AL Studio 289
118 MC Studio 224 209 AL 1+1 462 242 AL Studio 291
119 MC Studio 224 210 AL 1+1 336 243 AL 1+1 322
120 MC Studio 219 211 AL Studio 249 244 AL Studio 275
121 AL Studio 285 212 AL Studio 250 245 AL Studio 267
122 AL Studio 303 213 AL Studio 248 246 AL Studio 216
123 AL Studio 303 214 AL 1+1 431 247 AL Studio 316
124 AL 1+1 346 215 AL Studio 217 248 AL Studio 316
125 AL 1+1 346 216 AL Studio 217 249 AL Studio 216
126 AL Studio 275 217 AL Studio 257 250 AL Studio 283
127 AL Studio 275 218 AL Studio 245 251 AL Studio 278
128 AL Studio 316 219 AL Studio 248 252 AL 1+1 335
129 AL Studio 258 220 AL Studio 251 253 AL Studio 254
130 AL Studio 290 221 AL Studio 253
131 AL Studio 290 222 AL Studio 253
132 AL Studio 291 223 AL Studio 346
133 AL 1+1 322 224 AL 1+1 414
# of Units
95
Total Rentable
26,363
Average Unit Size
278
9 Cash Flow Schedule (Year 1) Vista At Simi Valley | Simi Valley CA
Market Growth Assumptions M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12 Total
Current Average Per Unit: $3,920.71 $3,920.71 $3,920.71 $3,920.71 $3,920.71 $3,920.71 $3,920.71 $3,920.71 $3,920.71 $3,920.71 $3,920.71 $3,920.71
# of Units Rented 5 5 5 5 5 5 5 5 5 5 5 5
Total Rented: 5 10 15 20 25 30 35 40 45 50 55 60
% Rented 4.76% 9.52% 14.29% 19.05% 23.81% 28.57% 33.33% 38.10% 42.86% 47.62% 52.38% 57.14%
Income M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12 Total
Gross Potential Residential Rent $411,675 $411,675 $411,675 $411,675 $411,675 $411,675 $411,675 $411,675 $411,675 $411,675 $411,675 $411,675 $4,940,100
Other Income -Misc $6,614 $13,229 $19,843 $26,457 $33,071 $39,686 $46,300 $52,914 $59,529 $66,143 $72,757 $79,371 $515,914.29
Less: ResidentialPhysical Vacancy ($392,071) ($372,468) ($352,864) ($333,261) ($313,657) ($294,054) ($274,450) ($254,846) ($235,243) ($215,639) ($196,036) ($176,432) ($3,411,021)
Effective Gross $26,218 $52,436 $78,654 $104,871 $131,089 $157,307 $183,525 $209,743 $235,961 $262,179 $288,396 $314,614 $2,044,993
Expenses:
Real Estate Taxes $21,625 $21,625 $21,625 $21,625 $21,625 $21,625 $21,625 $21,625 $21,625 $21,625 $21,625 $21,625 $259,500
Property Insurance $4,243 $4,243 $4,243 $4,243 $4,243 $4,243 $4,243 $4,243 $4,243 $4,243 $4,243 $4,243 $50,916
Utilities $13,335 $13,335 $13,335 $13,335 $13,335 $13,335 $13,335 $13,335 $13,335 $13,335 $13,335 $13,335 $160,022
Administrative & General $25,761 $25,761 $25,761 $25,761 $25,761 $25,761 $25,761 $25,761 $25,761 $25,761 $25,761 $25,761 $309,133
Marketing $5,152 $5,152 $5,152 $5,152 $5,152 $5,152 $5,152 $5,152 $5,152 $5,152 $5,152 $5,152 $61,827
Resident Care $119,713 $119,713 $119,713 $119,713 $119,713 $119,713 $119,713 $119,713 $119,713 $119,713 $119,713 $119,713 $1,436,560
Culinary Services $51,522 $51,522 $51,522 $51,522 $51,522 $51,522 $51,522 $51,522 $51,522 $51,522 $51,522 $51,522 $618,266
Laundry & Housekeeping $11,820 $11,820 $11,820 $11,820 $11,820 $11,820 $11,820 $11,820 $11,820 $11,820 $11,820 $11,820 $141,838
Programing $9,547 $9,547 $9,547 $9,547 $9,547 $9,547 $9,547 $9,547 $9,547 $9,547 $9,547 $9,547 $114,561
Payroll Taxes & Benefits $40,157 $40,157 $40,157 $40,157 $40,157 $40,157 $40,157 $40,157 $40,157 $40,157 $40,157 $40,157 $481,884
Management Fee $25,483 $25,483 $25,483 $25,483 $25,483 $25,483 $25,483 $25,483 $25,483 $25,483 $25,483 $25,483 $305,792
Replacement Reserve: $1,313 $1,313 $1,313 $1,313 $1,313 $1,313 $1,313 $1,313 $1,313 $1,313 $1,313 $1,313 $15,750
TOTAL OPERATING EXPENSES $329,671 $329,671 $329,671 $329,671 $329,671 $329,671 $329,671 $329,671 $329,671 $329,671 $329,671 $329,671 $3,956,049
NOI ($303,453) ($277,235) ($251,017) ($224,799) ($198,581) ($172,364) ($146,146) ($119,928) ($93,710) ($67,492) ($41,274) ($15,056) ($1,911,056)
NOI & REP. RESERVE ($303,453) ($277,235) ($251,017) ($224,799) ($198,581) ($172,364) ($146,146) ($119,928) ($93,710) ($67,492) ($41,274) ($15,056) ($1,911,056)
Less Loan Payments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Plus Cash Infusion $303,453 $277,235 $251,017 $224,799 $198,581 $172,364 $146,146 $119,928 $93,710 $67,492 $41,274 $15,056 $1,911,056
Pre-Tax Cash Flow $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
10 Cash Flow Schedule (Year 2) Vista At Simi Valley | Simi Valley CA
Market Growth Assumptions M13 M14 M15 M16 M17 M18 M19 M20 M21 M22 M23 M24 Total
Current Average Per Unit: $4,018.73 $4,018.73 $4,018.73 $4,018.73 $4,018.73 $4,018.73 $4,018.73 $4,018.73 $4,018.73 $4,018.73 $4,018.73 $4,018.73
# of Units Rented 4 4 4 4 4 4 4 4 4 4 4 1
Total Rented: 64 68 72 76 80 84 88 92 96 100 104 105
% Rented 60.95% 64.76% 68.57% 72.38% 76.19% 80.00% 83.81% 87.62% 91.43% 95.24% 99.05% 100.00%
Income M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12 Total
Gross Potential Residential Rent $421,967 $421,967 $421,967 $421,967 $421,967 $421,967 $421,967 $421,967 $421,967 $421,967 $421,967 $421,967 $5,063,603
Other Income -Misc $86,779 $92,203 $97,627 $103,051 $108,474 $113,898 $119,322 $124,745 $130,169 $135,593 $141,017 $142,373 $1,395,250.50
Less: ResidentialPhysical Vacancy ($164,768) ($148,693) ($132,618) ($116,543) ($100,468) ($84,393) ($68,318) ($52,244) ($36,169) ($20,094) ($18,707) ($18,707) ($961,723)
Effective Gross $343,978 $365,477 $386,976 $408,474 $429,973 $451,472 $472,970 $494,469 $515,967 $537,466 $544,276 $545,632 $5,497,130
Expenses:
Real Estate Taxes $22,058 $22,058 $22,058 $22,058 $22,058 $22,058 $22,058 $22,058 $22,058 $22,058 $22,058 $22,058 $264,690
Property Insurance $4,328 $4,328 $4,328 $4,328 $4,328 $4,328 $4,328 $4,328 $4,328 $4,328 $4,328 $4,328 $51,934
Utilities $13,602 $13,602 $13,602 $13,602 $13,602 $13,602 $13,602 $13,602 $13,602 $13,602 $13,602 $13,602 $163,222
Administrative & General $26,276 $26,276 $26,276 $26,276 $26,276 $26,276 $26,276 $26,276 $26,276 $26,276 $26,276 $26,276 $315,316
Marketing $5,255 $5,255 $5,255 $5,255 $5,255 $5,255 $5,255 $5,255 $5,255 $5,255 $5,255 $5,255 $63,064
Resident Care $122,108 $122,108 $122,108 $122,108 $122,108 $122,108 $122,108 $122,108 $122,108 $122,108 $122,108 $122,108 $1,465,291
Culinary Services $52,553 $52,553 $52,553 $52,553 $52,553 $52,553 $52,553 $52,553 $52,553 $52,553 $52,553 $52,553 $630,631
Laundry & Housekeeping $12,056 $12,056 $12,056 $12,056 $12,056 $12,056 $12,056 $12,056 $12,056 $12,056 $12,056 $12,056 $144,675
Programing $9,738 $9,738 $9,738 $9,738 $9,738 $9,738 $9,738 $9,738 $9,738 $9,738 $9,738 $9,738 $116,852
Payroll Taxes & Benefits $40,960 $40,960 $40,960 $40,960 $40,960 $40,960 $40,960 $40,960 $40,960 $40,960 $40,960 $40,960 $491,522
Management Fee $25,992 $25,992 $25,992 $25,992 $25,992 $25,992 $25,992 $25,992 $25,992 $25,992 $25,992 $25,992 $311,908
Replacement Reserve: $1,339 $1,339 $1,339 $1,339 $1,339 $1,339 $1,339 $1,339 $1,339 $1,339 $1,339 $1,339 $16,065
TOTAL OPERATING EXPENSES $336,264 $336,264 $336,264 $336,264 $336,264 $336,264 $336,264 $336,264 $336,264 $336,264 $336,264 $336,264 $4,035,170
NOI $7,714 $29,213 $50,711 $72,210 $93,709 $115,207 $136,706 $158,205 $179,703 $201,202 $208,012 $209,368 $1,461,960
NOI & REP. RESERVE $7,714 $29,213 $50,711 $72,210 $93,709 $115,207 $136,706 $158,205 $179,703 $201,202 $208,012 $209,368 $1,461,960
Less Loan Payments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Plus Cash Infusion $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Pre-Tax Cash Flow $7,714 $29,213 $50,711 $72,210 $93,709 $115,207 $136,706 $158,205 $179,703 $201,202 $208,012 $209,368 $1,461,960
11 Cash Flow Schedule (5-Year Projections) Vista At Simi Valley | Simi Valley CA
Market Growth Assumptions Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
Current Average Per Unit: $3,920.71 $4,018.73 $4,119.20 $4,222.18 $4,327.73 $4,435.93
Revenue Growth Per Year: 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%
Operating Expense Growth Per Year: 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
Vacancy: 5.00% 5.00% 5.00% 5.00% 5.00%
Income: $/Unit
Gross Potential Residential Rent $4,940,100 $47,049 $4,940,100 $5,063,603 $5,190,193 $5,319,947 $5,452,946 $5,589,270
Other Income -Misc $1,666,800 $15,874 $515,914 $1,395,251 $1,751,182 $1,794,961 $1,839,835 $1,885,831
Less: ResidentialPhysical Vacancy ($247,005) 5.00% ($3,411,021) ($253,180) ($259,510) ($265,997) ($272,647) ($279,463)
Effective Gross $6,359,895 $60,570 $2,044,993 $6,205,673 $6,681,865 $6,848,911 $7,020,134 $7,195,637
Expenses:
Real Estate Taxes $259,500 $2,471 $259,500 $264,690 $269,984 $275,383 $280,891 $286,509
Property Insurance $50,916 $485 $50,916 $51,934 $52,973 $54,032 $55,113 $56,215
Utilities $160,022 $1,524 $160,022 $163,222 $166,487 $169,817 $173,213 $176,677
Administrative & General $309,133 $2,944 $309,133 $315,316 $321,622 $328,054 $334,616 $341,308
Marketing $61,827 $0 $61,827 $63,064 $64,325 $65,611 $66,924 $68,262
Resident Care $1,436,560 $13,682 $1,436,560 $1,465,291 $1,494,597 $1,524,489 $1,554,979 $1,586,078
Culinary Services $618,266 $5,888 $618,266 $630,631 $643,244 $656,109 $669,231 $682,616
Laundry & Housekeeping $141,838 $1,351 $141,838 $144,675 $147,568 $150,520 $153,530 $156,601
Programing $114,561 $1,091 $114,561 $116,852 $119,189 $121,573 $124,005 $126,485
Payroll Taxes & Benefits $481,884 $4,589 $481,884 $491,522 $501,352 $511,379 $521,607 $532,039
Management Fee $305,792 $2,912 $305,792 $311,908 $318,146 $324,509 $330,999 $337,619
Replacement Reserve: $15,750 $150 $15,750 $16,065 $16,386 $16,714 $17,048 $17,389
TOTAL OPERATING EXPENSES $3,956,049 $37,677 $3,956,049 $4,035,170 $4,115,873 $4,198,191 $4,282,155 $4,367,798
NOI $2,403,846 $22,894 ($1,911,056) $2,170,503 $2,565,991 $2,650,720 $2,737,979 $2,827,840
Operating Expense Ratio 62.2% 65.0% 61.6% 61.3% 61.0%
Plus Cash Infusion $1,911,056 $0 $0 $0 $0 $0
Pre-Tax Cash Flow $0 $2,170,503 $2,565,991 $2,650,720 $2,737,979 $2,827,840
Y0 Stabalized
$3,920.71
12 IRR and Cash Flow Analysis Vista At Simi Valley | Simi Valley CAASSUMPTIONS CURRENT RETURN/RESIDUAL VALUE RATIO - UNLEVERAGED YEAR 5
Total Equity Required Y0 $27,861,056 Percent of
Cost per Unit $247,143 IRR Total Return
Analysis Period 5 Years Total Unlevered IRR 14.59% 100.00%
Terminal CAP Rate 6.50% Cash Flow with No Apppreciation 6.97% 47.80%
Terminal Price Determination Following Year NOI Apreciation Return 7.62% 52.20%
Y5 Sale Price $43,505,226
Cost of Sale 2.00% Equity Multiple 1.89
RETURNS - UNLEVERAGED
Year Ending: Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
NOI Return (1,911,056) 2,170,503 2,565,991 2,650,720 2,737,979 2,827,840
Levered Cash Flow (27,861,056) - 2,170,503 2,565,991 2,650,720 2,737,979 2,827,840
NOI Return -6.86% 7.79% 9.21% 9.51% 9.83% 10.15%
Cash to Initial Equity 0.00% 7.79% 9.21% 9.51% 9.83%
Internal Rate of Return 17.46% 21.10% 17.40% 15.63% 14.59%
PRESENT VALUES AT VARIOUS DISCOUNT RATES AND HOLDING PERIODS - UNLEVERAGED
PRESENT VALUES Discount Rate Year 1 Year 2 Year 3 Year 4 Year 5 6
9.50% $29,885,393 $34,075,817 $34,203,894 $34,321,912 $34,430,642
9.75% $29,817,317 $33,920,751 $33,974,792 $34,022,873 $34,065,557
10.00% $29,749,550 $33,766,741 $33,747,748 $33,727,153 $33,705,275
10.25% $29,682,091 $33,613,777 $33,522,741 $33,434,708 $33,349,720
10.50% $29,614,937 $33,461,851 $33,299,747 $33,145,494 $32,998,820
This information has been secured from sources we believe to be reliable, but we make no representat ions or warrant ies, expressed or implied as to the accuracy of the
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
0%
5%
10%
15%
20%
25%
0%
2%
4%
6%
8%
10%
12%
Year 2 Year 3 Year 4 Year 5
IRR
NO
I &
Ca
sh-o
n-C
ash
Re
turn
s
NOI Return Cash on Cash Return IRRYear 2 Year 3 Year 4 Year 5
$33,766,741 $33,747,748
$33,727,153
$33,705,275
Present Value At 10% Discount
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PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
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17 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
18 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
19 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
20 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
21 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
22 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
23 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
24 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
25 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
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27 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
28 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
29 PROPERTY PHOTOS Vista At Simi Valley | Simi Valley CA
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CITY OVERVIEW – SIMI VALLEY Vista At Simi Valley | Simi Valley CA
The city of Simi Valley is a suburban submarket located in the
southeast corner of Ventura County in the greater Los Angeles area.
It is located just northwest of the boarder of Los Angeles city, and less
than 40 miles from downtown Los Angeles.
Simi Valley is surrounded by the Santa Susana Mountain range and
the Simi Hills. The city neighbors Moorpark (to the west), Thousand
Oaks (to the south), and the San Fernando Valley (to the east). The
118 freeway runs through Simi Valley, connecting it to the city of Los
Angeles via the Santa Susana Pass.
The city features a pleasant combination of housing, offices, retail
and industrial building. There are many schools, parks, and
government services such as a public library, USPS, and DMV offices.
Simi Valley is home to the Ronald Reagan Presidential Library and a
rail station service by Amtrak, Metrolink, and local buses.
It is considered one of the safest cities in the area, with a large
proportion of its residents being current or former police officers. FBI
crime statistics from 2016 ranked it as the 7th safest city in the United
States with a population of 100,000 or more, similar to Thousand Oaks
and Moorpark.
It’s been ranked as the fifth happiest city in the US, according to a
study by the University of Vermont. Wide open spaces, affordable
rent, easy freeway access, and a laid-back lifestyle in what is
otherwise one of the busiest areas in the United States, all lend
themselves to being a dream place to live, at any stage in one’s life.
Outdoors enthusiasts will find a great deal to love in Simi Valley, as will
fans of shopping and nightlife. With several golf courses located
around the city, and locations like Big Sky Park (which truly lives up to
its name), you’ll never run out of entertainment options in this city
Simi Valley A study done by the University of Vermont also ranked Simi Valley as the fifth-happiest city in the United States. According to crime statistics by the FBI in 2013, it is the seventh-safest city in the U.S.
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CITY OVERVIEW – SIMI VALLEY Vista At Simi Valley | Simi Valley CA
Take a tour of our local Museums and Historical Sites.
Simi Valley is home to multiple museums. From the world renowned Ronald Reagan Presidential Library and Museum to itslocal California Historical Landmark – Grandma Prisbrey’s Bottle Village, visitors will find interesting facts about fascinatingpeople and step back in time as they explore hand curated artifacts. If those don’t spark your interest, maybe Old SantaSusanna Depot Museum and Model Railroad, Strathearn Historical Park or the famous Skatelab will!
Hikes and Trails.
Simi Valley is known for its beautiful landscape and amazing trail system. The city is surrounded by greenbelts and wild lifecorridors with 50 miles worth of trails winding as far as Los Angeles. Mount McCoy and Rocky Peak are local favorites.
Outdoor Concerts
Everything moves outdoors in the Simi summertime where even the hottest day ends with a nice cool breeze. Vistors andresidents can expect to enjoy concerts in the local parks, courtyards and even at the Ronald Reagan Presidential Library andMuseum.
Farmer’s Market
The City’s local Farmer’s Market is one of Simi’s best kept secrets. Ventura County is one of California’s largest agriculturalregions. You cannot get produce much fresher than this. The market is everything artisan from the produce and fully preparedfoods (try the tamales!) to arts, crafts and jewelry.
Simi Valley Days Carnival and Parade!Simi Valley Days has been an annual celebration for over 40 years. Carnival rides, games, food, concerts… and more includingits yearly parade.
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PROPERTY DEMOGRAPHICS Vista At Simi Valley | Simi Valley CA
Radius 1 Mile 3 Mile 5 Mile
Population:
2025 Projection 20,394 82,603 126,949
2020 Estimate 20,287 82,482 126,695
2010 Census 19,646 81,576 124,942
Growth 2020-2025 0.53% 0.15% 0.20%
Growth 2010-2020 3.26% 1.11% 1.40%
Households:
2025 Projection 6,120 26,310 42,070
2020 Estimate 6,085 26,278 41,979
2010 Census 5,888 26,075 41,431
Growth 2020 - 2025 0.58% 0.12% 0.22%
Growth 2010 - 2020 3.35% 0.78% 1.32%
Owner Occupied 4,327 19,650 31,023
Renter Occupied 1,758 6,628 10,956
2020 Avg Household Income $106,621 $120,420 $124,180
2020 Med Household Income $87,861 $98,242 $99,681
2020 Households by Household Inc:
<$25,000 696 2,347 3,943
$25,000 - $50,000 984 3,535 5,456
$50,000 - $75,000 846 3,250 5,100
$75,000 - $100,000 1,003 4,310 6,574
$100,000 - $125,000 664 3,233 5,048
$125,000 - $150,000 731 2,630 3,874
$150,000 - $200,000 546 3,494 5,638
$200,000+ 614 3,479 6,346
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Subject Property
Subject Property
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Subject Property
35 PROPERTY DEMOGRAPHICS Vista At Simi Valley | Simi Valley CA
CONTACT INFORMATION:
David MeirPeak Commercial | Anvers Capital Partners Director | Managing Partner
CA License #008775235900 Canoga Ave #110Woodland Hills, CA [email protected]@anverscp.com
www.anverscp.com | www.peakcommercial.com__________________________________________________
Jack MinassianPeak Commercial | Anvers Capital PartnersDirector | Managing Partner
CA License #012754345900 Canoga Ave #110Woodland Hills, CA [email protected]@anverscp.com
www.anverscp.com | www.peakcommercial.com