[RealEstate] $2,525,000 Sale/Leaseback Near Atlanta, Georgia
NetLeaseX Realty Markets, Inc. is working with a real estate development group to raise the required capital so that they can develop 74 single family building lots on 38 acres in Lithonia, Georgia, approximately 25 miles east of downtown Atlanta. The development group has already begun the entitlement process and expects to receive their land disturbance permit on July 30, 2006. They plan to commence construction immediately thereafter and finish construction by October 1, 2006.
Specifically, a net lease investor will (a) purchase the project for $1,185,000 and (b) provide $1,340,000 in additional financing to the developer to cover specified development and soft costs. At closing, the net lease investor will lease the project to the development group for 2 years on a triple-net basis and grant the development group a 2 year option to purchase the project for $3,800,000. Based on the development group's proforma, they project that they can sell the building lots for approximately $4,521,400 (net of sales commissions). Accordingly, the development group expects to earn approximately $721,400 profit, while the net lease investor should earn a $1,275,000 preferred profit.
Based on the above profit, the net lease investor’s IRR will be 20.6% (based on a 24 month term) or 27.6% per annum (based on an 18 month proforma term). In actuality, the net lease investor’s IRR will be even higher because a significant portion of his/her investment will not be advanced until after construction commences.
If you would like to review a more detailed Executive Summary regarding this net lease investment, please reply to this e-mail or call me to discuss.
Ron
_____________________________________________________
Ronald B. Zimmerman, President
NetLeaseX Realty Markets, Inc.
119 East Court Street
Cincinnati, Ohio 45202
Tel: (513) 861-1031 Fax: (513) 632-9577 Mobile: (513) 325-2909
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Atlanta Real Estate
Atlanta Real Estate
For sale in Pensacola,Fl. 118 acres in Pensacola that is currently a golf course. It has 25-30 acres that is buildable. Can get up to 25 units per acre. Great for a gated community of condo's or townhomes with their own golf course. an over 55 community with a golf course.
Michael Blackwell
michaelc21@mchsi.com
For sale in Pensacola Florida. 118 acres in town currently a golf course. has 25-30 acres that is buildable. zoned for up to 25 units per acre. Good gated community with glaf course or over 55 community.
Michael Blackwell
michaelc21@mchsi.com
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