We are writing to offer you an extraordinary opportunity to invest $100 million of equity in the above recapitalization
which will produce extraordinary returns.
The portfolio characteristics are as follows:
– You will be investing at a 7% unlevered cap rate based on existing in-place NOI.
– Existing rents are 10% to 15% below market and the portfolio currently enjoys an 84% occupancy which
will rise to 90% in the short term.
– A newly originated first mortgage will be placed simultaneous to you investing your equity.
– The property is located in five major U.S. markets offering tremendous diversity as this portfolio consists of
30 Class A properties located in strong markets throughout the United States.
– The sponsors are best in class managers and this transaction is certain to make hundreds of millions of
dollars in profit.
Howard L. Michaels