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Passive investment opportunity for accredited investors

Passive investment opportunity for accredited investors. Canvas Apartments. 152 units multifamily investment opportunity in Ocean Springs, MS.<br>

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Passive investment opportunity for accredited investors

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  1. TABLE OF CONTENT PROJECT DETAILS & METRICS................................................ 03 ABOUT US........................................................................................ 04 INVESTMENT DETAILS................................................................. 10 LOCATION OVERVIEW................................................................. 16 MULTIFAMILY FUNDAMENTALS............................................... 19 DISCLAIMER................................................................................... 28

  2. PROJECT DETAILS & METRICS PROPERTY NAME: - CANVAS APARTMENTS • LOCATION: OCEAN SPRINGS, MS • TOTAL OF UNITS - 152 • TOTAL HOLD PERIOD - 5 YEARS • PURCHASE PRICE - $19,760,000O • NEW DEVELOPMENT APARTMENTS 30.74% 5 YEAR TARGETED IRR 18.29% 5 YEAR AVERAGE COC $5.35 MILLION TOTAL EQUITY 152 UNITS CLASS TYPE A 03

  3. STRATEGY The vision of Providence’s leadership is to deliver qualified returns on investment by hedging risk and acquiring multi-family assets that meet or exceed our criteria. Our firm focuses on providing high returns to our partner investors in all targeted capital markets. Location is critical and our priority in identifying when investing. US emerging markets with a high barrier to entry have demonstrated to be vital locations of high potential return on investments. Quality class assets, strong job growth, strong leadership, the path of development, key demographics, high rental demand, and competitive occupancy are proven essentials to a high-yield investment. In addition, we focus on stabilized assets with solid physical qualities requiring minor repairs with potential value-add components. Our goal is to maximize returns for our partners and investors without compromising our conservative approach. 04 ABOUT US

  4. WHY US? We have over 40+ years of combined commercial real estate experience. Our partnership has led over 4,000 units throughout the Southeast and other primary and secondary markets in the US. All of our assets are well-performing assets managed and operated within our partnership. We have also allied with other top national management firms to maximize our returns and investment efforts. Providence Investments and its partners are very familiar with multi-million dollar complex repositioning projects and large multifamily development. You can be confident that with Providence Investments and its affiliated partners, your investment is in the hands of highly competitive and knowledgeable real estate professionals. 05 ABOUT US

  5. JOHN MEJIA, CEO AND FOUNDER JOHN MEJIA Principal, Providence Investments,LLC. Providence Investments was founded by John Mejia, a native New Yorker and a seasoned real estate professional. Their principles deliver trustworthy and solid real estate solutions while providing sound strategic investment opportunities. John has over $500MM in acquisition and development transactions, with superb returns and a proven track record. Since his first apartment purchase in 2012, John’s related entities have been involved with over 4,000 apartment units in the Southeast. In addition, he has developed Providence’s property management platform capable of servicing more than 10,000 units. Before his real estate career, John attended Syracuse University where he graduated with a Bachelor of Science degree. 06 ABOUT US

  6. Upon graduating from S.U., John attended AOCS (Aviation Officer Candidate School), was commissioned as an officer in the United States Navy, and later became an airline pilot for U.S. Airways. He is also fluent in Italian, Spanish, and Portuguese Guest speaker at Auburn University School of Business. With over 40 years of combined experience, Providence Investments is a group of highly competitive and knowledgeable real estate professionals. PROFESSIONAL ACHIEVEMENTS • Guest speaker at the Auburn University Harbert College of Business and the University of Alabama Manderson Graduate School of Business Member of Children’s • Hospital of Alabama Philanthropy and the Monday Morning Quarterback Club. • Responsible for operations of the southeastern region multifamily portfolio • Responsible for directing and executing Providence’s National Multi-Family acquisition strategy. • National speaker for IMN Conference EDUCATION Syracuse University, B.A. 07 ABOUT US

  7. PROVIDENCE INVESTMENTS TRACK *Please Note Only Deals Controlled by Providence are shown below, Providence has Invested in other deals as silent partners bringing unit count above 5K Providence Investments GP Track Record / Property Name The Lenox Waterford Landing Wellington Manor The Retreat at Greystone Tree Haven Eagle Pointe Heritage Stone Crossing Hunters Pointe Woodstream Arbors On The Lake Parham Pointe Puerto Del Mar La Sienna Apartments+ The Oaks at Grants Mill+ Canvas Apartments+ Callaway Cove+ City Block Apartments+ Avalon Kemah+ Rancho Sante Fe+ Totals/Averages Loca�on Augusta, GA Birmingham, AL Birmingham, AL Birmingham, AL Huntsville, AL Durham, NC Pensacola, FL Huntsville, AL Pensacola, FL Fayetteville, NC New Orleans, LA Little Rock, AR Corpus Christi, TX Edinburgh, TX Birmingham, AL Ocean Springs, MS Panama City, FL Wilmington, NC Houston, TX Sante Fe, NM Original Project Cost Units $6,680,000 $15,720,000 $22,107,616 $32,100,000 $3,000,000 $7,640,000 $13,500,000 $16,090,000 $12,285,000 $5,900,000 $8,205,000 $16,496,821 $58,950,000 $38,512,744 $42,824,583 $19,760,000 $17,000,000 $33,182,028 $44,260,324 $39,747,041 $453,961,157 Vintage 1971 1992 1998 2013 1986 1967 1970 1986 1989 1973 1986 2003 1973 2022 2022 2022 2022 2015 & 2022 2022 2022 1997 Purchase Date Sale / Refi Date 2011 2012 2012 2013 2014 2014 2014 2016 2016 2016 2017 2019 2021 2019 2021 2021 2021 2015 & 2022 2022 2022 2017 Price EM 4.77 1.68 5.09 3.21 1.50 3.78 1.98 1.40 2.54 2.53 1.90 1.30 TBD N/A Under Dev Under Dev N/A Under Dev Under Dev N/A Under Dev Under Dev N/A Under Dev Under Dev N/A Under Dev Under Dev N/A Under Dev Under Dev N/A Under Dev Under Dev 2.64 13.68% COC 17.20% 14.15% 15.30% 7.80% 12.00% 18.50% 15.10% 10.20% 13.50% 16.00% 12.55% 11.87% TBD XIRR 37.10% 24.00% 25.00% 32.00% 18.00% 58.11% 38.66% 13.60% 33.70% 47.82% 27.29% 59.05% TBD 190 220 312 240 71 223 194 256 204 202 132 184 580 288 264 152 96 168 198 156 4,330 2018 2016 2019 ReFi 2015 2014 2016 2019 2019 2018 2018 Own Own Own Under Dev Under Dev Under Dev Under Dev Under Dev Under Dev Under Dev $12,150,000 $18,185,000 $45,000,000 $50,000,000 $5,000,000 $14,150,000 $17,800,000 $18,100,000 $17,450,000 $8,650,000 $11,250,000 $22,000,000 $61,000,000 $51,700,000 $5,500,000 $25,080,000 $24,000,000 $42,000,000 $49,500,000 $42,900,000 $541,415,000 34.53% +Developments shown using projected stabilied values 08 ABOUT US

  8. TESTIMONIALS I have been personally invested in several multifamily properties with you and your group and have seen them perform exceptionally in operations, value add scenarios and value enhancement. In some select cases your group completely outperformed the market against strong odds. I would definitely recommend your team for management assignments in the future. - Ron C “Working with a company that not only makes sound investments but operates with honesty and integrity is invaluable. I have invested with Providence for the past nine years and could not be more pleased.” - David H John and his team do an excellent job creating a desirable cash flow for investors. In all my years, this is one team that has truly delivered a great experience for apartment investments. - Keeley M 09 ABOUT US

  9. INVESTMENT HIGHLIGHTS • Located within high barrier to entry location in the most desirable submarket along the Mississippi Gulf Coast • Ocean Springs leads the way when it comes to Median household income along the Mississippi Gulf Coast. • The asset is brand new and features a top-of-market physical plant. The asset is being acquired well-below replacement costs which continue to soar nationally. • Opportunity to increase rents on second generation leases 10 INVESTMENT DETAILS

  10. INVESTMENT HIGHLIGHTS CONTINUED HIGH BARRIERS TO ENTRY There is limited to no new multifamily development in the pipeline outside of Canvas Apartments. Ocean Springs is a community which limits multifamily development. The lack of future supply along with continued population growth will enhance rent growth over the long term. Median household income (in 2020 dollars), 2016-2020 City LEADING HOUSEHOLD INCOME Out of the largest cities along the Mississippi Gulf Coast & Mobile, AL Ocean Springs Median Household Income per the latest census is nearly $12,000 or 20% higher than the next closest city. Ocean Springs has set itself apart from other cities nearby in terms of quality of lifestyle and livability. Ocean Springs, MS Biloxi, MS Mobile, AL Pascagoula, MS Gulfport, MS $60,859 $48,999 $43,456 $41,167 $40,554 11 INVESTMENT DETAILS

  11. INVESTMENT HIGHLIGHTS CONTINUED SECOND GENERATION LEASES Providence has conservatively projected rents to range from $900-$1400 upon takeover. However recent leasing data has second and third story floor plans leasing $50-$100 higher than initially projected. With the already stronger than anticipated rents Providence will be able to push second generation leases. QUALITY CONSTRUCTION OFFERED WELL BELOW REPLACEMENT COST RENT MATRIX Market Rent Units Bed Bath Unit SF Total SF Market Rent Market Rent/SF Annual Market Rent As construction costs continue to expand nationally, investor demand for in-place multifamily assets grows simultaneously. Cost estimates to build similar product approach $175k+ per unit. Additionally, the property was constructed by a long tenured and well-respected developer. 32 1 1 726 23232 $900.00 $1.24 $345,600 88 2 2 1001 88088 $1,200.00 $1.20 $1,267,200 32 3 2 1181 37792 $1,400.00 $1.19 $537,600 152 981 149112 $1,179 $1.20 $2,150,400 12 INVESTMENT DETAILS

  12. EXECUTIVE SUMMARY Property Informa�on Name Year Built Units City County State Canvas Apartments 2022 152 Ocean Springs Jackson Mississippi Building Informa�on Schools Ocean Springs High School Ocean Springs Middle School Ocean Springs Upper Elementary Oak Park Elementary Great Schools Ra�ng 9/10 8/10 8/10 9/10 Net Rentable SF Framing Roof Exterior 149112 Wood Pitched - Composite Hardi-Plank 13 INVESTMENT DETAILS

  13. FLOOR PLANS BR / 2 BA | 1181 Sq. Ft. | $1400+ 1 BR / 1 BA | 726 Sq. Ft. | $900+ BR / 2 BA | 1001 Sq. Ft. | $1200+ 14 INVESTMENT DETAILS

  14. SITE MAP 15 INVESTMENT DETAILS

  15. WHY INVEST IN OCEAN SPRINGS, MS 16 LOCATION OVERVIEW

  16. MSA OVERVIEW The Gulfport-Biloxi-Ocean Springs- Pascagoula, MS combined statistical area is located on the Gulf Coast of Mississippi. The MSA has a combined population of 404,600. Located along Interstate 10, the MSA is situated approximately 80 miles east of New Orleans and 75 miles west of Mobile. The area boasts some of the most beautiful white sand beaches in the state. With approximately 62 miles of scenic shoreline, highlighted by a chain of barrier reef islands, thousands of visitor's flock to the Mississippi Gulf Coast each year to enjoy the beaches, first-rate fishing and several championship golf courses. The metro also draws thousands of tourists every year for their renowned casino and gaming facilities. 17 LOCATION OVERVIEW

  17. OCEAN SPRINGS OVERVIEW Ocean Springs, Mississippi, lies at the heart of the beautiful Mississippi Gulf Coast on the eastern shore of Biloxi Bay. It's known as the City of Discovery in recognition of the French establishment of a settlement here in 1699. Long before the French arrived, however, the area was appreciated for its beauty and natural resources by Native Americans. The attributes that brought these early residents have attracted a diverse stream of people during the past 300 years. Ocean Springs has been flavored by many influences during its rich history, and now in the 21st century, it has a unique character that makes us happy to call it home. Nestled along the warm waters of the Gulf of Mexico, the City of Ocean Springs is a vibrant and eclectic arts community. It is home to numerous galleries, artist studios, and over 100 restaurants, and recently opened its first micro-brewery. With relatively affordable housing (the median home value is just over $204,000), schools that are among the best in the State of Mississippi, premier healthcare facilities, and a unique beauty found all over town, it is easy to understand why 17,000 people are proud to call Ocean Springs home! 18 LOCATION OVERVIEW

  18. MAJOR EMPLOYERS / INDUSTRIES The Keesler Air Force Base is located in Biloxi and serves a number of purposes, most noteworthy being a major technical training facility educating over 30,000 enlisted members annually across the U.S. Air Force, Army, Navy, Marine Corps, Coast Guard, and other federal agencies. Over 10,814 people are employed at the base. The base generates an estimated total economic impact of $1.57 billion to the surrounding area. Additionally, the MSA is home to the Naval Construction Battalion Center, an operation established in 1942 which currently employs approximately 5,500 people KEESLER AIR FORCE BASE 19 MULTIFAMILY FUNDAMENTALS

  19. MAJOR EMPLOYERS / INDUSTRIES GAMING Within the MSA there are 12 casinos, and the leisure and hospitability industry employs over 29,000. Major casino operators that have representation in the market include Caesars, Landry’s, Boyd Gaming, and MGM Resorts. Collectively, the 12 casinos generated revenues of $1.08+ billion for the year 2020 with strong expectations for further growth In 2019, the Biloxi gaming industry generated over $883 million in gaming revenue, which has led to continued development activity of both casinos and non-gaming hotels. Foxwoods Resort Casino is investing $265 million in a new 500-room casino development with an estimated completion date of 2021 at the earliest. Additionally, in October of 2020, Universal Music Group, the largest music company in the world, announced it had received local approval to build a $1.2 billion UMUSIC Broadwater hotel and casino in Biloxi county. The 266-acre development will be the first of three UMUSIC hotels in the world and is set to be completed in 2023. The resort is expected to attract more than 2M people annually and will create 1,000 construction jobs in addition to the 2,500 permanent jobs. 20 MULTIFAMILY FUNDAMENTALS

  20. MAJOR EMPLOYERS / INDUSTRIES SHIPBUILDING Huntington Ingalls is the largest manufacturing employer in Mississippi, with over 11,500 employees. Ingalls, a subsidiary of Northrop Grumman Ship Systems, has built nearly 70% of the U.S. Navy’s fleet of warships and holds contracts with the U.S. Coast Guard to build their state of the art “Cutters.” The Port of Gulfport and the Port of Pascagoula, as well as the Naval Construction Battalion Center, make it possible to have such a large shipbuilding base in the Mississippi Gulf Coast Region. Ingalls was recently awarded a $5.1 billion contract to build 6 additional U.S. Navy destroyers over the next 5 years, creating jobs for around 500 additional employees. The Port of Gulfport, which was designated as a Strategic Seaport by the Military Surface Deployment and Distribution Command, is nearing completion of a large-scale restoration project that will total $570 million, bringing over 1,300 jobs to the area. Over the next 10 years, the Port of Gulfport, which handles 2.2 million tons of cargo passing through the port annually, will look to increase its depth to 46 feet allowing for newer and larger ships to come through the port. The Port of Pascagoula is the largest seaport in the state of Mississippi with over 25 million tons of cargo passing through the port annually. According to a 2004 study conducted by Michael Baker Corporation, operations associated with the Jackson County Port Authority are responsible for 19,370 direct jobs, $902 million in personal income, $393 million in spending, $50 million in state tax revenue and $27 million in tax revenues to Jackson County. These ports serve as major entry and export points for crude petroleum and petroleum products. 21 MULTIFAMILY FUNDAMENTALS

  21. MAJOR EMPLOYERS / INDUSTRIES ENERGY Gulfport-Biloxi-Pascagoula is home to the largest Chevron refinery in the United States, with over $4.5 billion invested. It is one of the top petroleum producing refineries in the U.S., producing over 6.6 million gallons of gas every day. The Pascagoula Chevron refinery is located on a 3,000-acre site adjacent to the Mississippi Sound. It is responsible for over 3,300 jobs and a direct local economic impact of $835.7 million. 22 MULTIFAMILY FUNDAMENTALS

  22. MAJOR EMPLOYERS / INDUSTRIES AEROSPACE The Gulf Coast area has also seen an increase in aerospace manufacturing with the new Airbus facility in Mobile. Given its close proximity to Mobile and Aeroplex at Brookley via I-10 and CSX rail, and its close proximity to major ports, the Mississippi Gulf Coast has quickly become a hotbed for the aerospace industry. Three aerospace centers have emerged and include operations in unmanned aerial vehicles, composites, propulsion, and geospatial activity. Only 45 minutes away from Gulfport, the Stennis Space hosts NASA, SpaceX, Rolls-Royce and numerous other companies, all conducting research and development in the aerospace industry. The 3,900 acre facility is also home to Lockheed Martin’s Mississippi Space & Technology Center, where workers build satellite propulsion cores and Aerojet Rocketdyne assembles the RS-68 and J-2X rocket engines at its plant in the former Mississippi Army Ammunition Cent. In nearby Moss Point, Northrup Grumman builds unmanned aircraft systems in a 101,000 SF facility. 23 MULTIFAMILY FUNDAMENTALS

  23. ACCOLADES & NEWS Business is booming in Ocean Springs - gulflive.com “Ocean Springs is a unique town whose character from the art, night life, nature and people make it a top place to eat, shop and stay.” "We're not the quiet little town we used to be, but it's a good thing, because it's all good development." City leaders in Ocean Springs looking to bring more development to the City of Discovery (wlox.com) “I am very excited," said the mayor. “We are big on economic development and we want to do everything we can to make it as easy as possible for developers to come in here and do business in our city.” List: Projects in Gulfport, Biloxi MS getting BP funding | Biloxi Sun Herald “Cities across South Mississippi will share nearly $38 million from the Gulf Coast Restoration Fund to pay for schools, harbors, downtown revitalization and more parking.” Ocean Springs named “Coolest Small Town in America” - Our Mississippi Home (ourmshome.com) Cynthia Sutton, executive director of the Ocean Springs Chamber of Commerce – Main Street – Tourism Bureau. 24 MULTIFAMILY FUNDAMENTALS

  24. RENT COMPS Name City Year Built Units Avg SF 2021 152 2011 240 2021 106 2008 316 2008 196 1999 244 2003 240 2010 213 -11 1 BR $900.00 $1,035.00 - $1,037.00 $1,095.00 $1,059.00 $1,063.00 $1,031.50 $131.50 2 BR $1,200.00 $1,135.00 - $1,375.00 $1,235.00 $1,221.00 $1,317.00 $1,247.17 $47.17 3 BR $1,400.00 - $1,940.00 $1,595.00 $1,415.00 $1,410.00 $1,614.00 $1,562.33 $162.33 Rent/SF $1.20 $1.47 $1.23 $1.19 $1.14 $1.07 $1.06 $1.19 -$0.01 Canvas Apartments* Ocean Springs, MS Toulon Apartments Emerald Lakes Grand Biscayne Oceanaire The Grove Grand View Average: Delta From Subject 981 736 1656 1115 1056 1131 1218 1128 147 Ocean Springs, MS Ocean Springs, MS Biloxi, MS Biloxi, MS Biloxi, MS Biloxi, MS 61 25 MULTIFAMILY FUNDAMENTALS

  25. PROFORMA Pro Forma Cash Flow Projection T-3 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 92.50% 94.0% 2,293,776 -11,469 -137,627 -11,469 0 0 -12,465 2,314,008 79,848 115,300 2,509,156 110,541 63,374 91,128 Revenues Economic Occupancy Physical Occupancy Market Rents Loss to Lease Vacancy Concessions Non-Revenue Units Collection Loss / Bad Debt Rental Collections Utility Reimbursement + Internet Other Income Effective Gross Income EGI Delta 92.32% 94.0% 2,391,920 -23,919 -142,080 -5,734 92.82% 94.0% 2,492,926 -12,465 -148,828 -5,161 92.85% 94.0% 2,555,250 -12,776 152,548 -4,645 92.87% 94.0% 2,619,131 -13,096 -156,362 -4,180 92.89% 94.0% 2,684,609 -13,423 -160,271 -3,762 92.91% 94.0% 2,751,724 -13,759 -164,278 -3,386 92.92% 94.0% 2,820,517 -14,103 -168,385 -3,048 92.94% 94.0% 2,891,030 -14,455 -172,595 -2,743 92.95% 94.0% 2,963,306 -14,817 -176,909 -2,468 0 0 0 0 0 0 0 0 -12,776 2,372,504 81,844 118,182 2,572,530 -13,096 2,432,397 83,890 121,137 2,637,424 64,894 -13,423 2,493,729 85,987 124,165 $ 2,703,882 66,458 -11,960 2,208,227 77,900 112,488 2,398,615 -11,469 2,121,743 76,000 109,744 2,307,487 2,307,487 -13,759 2,556,543 88,137 127,269 $ 2,771,949 68,067 -14,103 2,620,880 90,340 130,451 $ 2,841,671 69,722 -14,455 2,686,783 92,599 133,712 $ 2,913,094 71,423 -14,817 2,754,295 94,914 137,055 $ 2,986,264 73,170 Expenses T -12 96,754 381,198 133,037 87,820 72,566 74,984 32,251 173,351 1,051,962 56,440 1,400,754 916,091 $191,783.27 1,107,875 99,657 388,822 137,028 90,039 74,743 77,234 33,219 178,552 1,079,293 58,133 1,435,104 903,584 $204,290.58 1,107,875 102,646 396,599 141,139 92,310 76,985 79,551 34,215 183,908 1,107,353 59,877 1,470,193 892,984 $214,891.01 1,107,875 105,726 408,497 145,373 94,636 79,294 81,937 35,242 189,425 1,140,131 61,673 1,502,078 881,833 $226,041.49 1,107,875 Utilities Property Tax Insurance Management Fee 3.5% Admin. / Marketing + Onesite Maint. / Repair Contract Services Payroll & Benefits Total Expenses Capital Expenditures Budgeted 93,936 373,724 129,162 83,952 70,452 72,800 31,312 168,302 1,023,640 54,796 1,320,179 923,122 $184,752.52 1,107,875 108,898 420,752 149,734 97,018 81,673 84,396 36,299 195,108 1,173,878 63,524 1,534,548 872,538 $235,336.49 1,107,875 91,200 366,396 125,400 80,762 68,400 70,680 30,400 163,400 996,638 53,200 1,257,649 461,238 112,164 433,374 154,226 99,458 84,123 86,927 37,388 200,961 1,208,624 65,429 1,567,618 857,893 $249,981.92 1,107,875 115,529 446,375 158,853 101,958 86,647 89,535 38,510 206,990 1,244,399 67,392 1,601,303 844,921 $262,953.23 1,107,875 118,995 459,767 163,619 104,519 89,246 92,221 39,665 213,200 1,281,233 69,414 1,635,617 831,277 $276,597.61 1,107,875 Less: Net Operating Income Less: Interest Principal Total Debt Service DSCR - 461,238 2.73 796,410 1.33 1.19 1.26 1.30 1.36 1.39 1.41 1.45 1.48 292,879 327,230 362,319 394,203 426,673 459,743 493,428 527,743 Cash Flow From Asset 212,304 These financial Projections are based in part on information furnished by the seller and have not been audited. 26 MULTIFAMILY FUNDAMENTALS

  26. CANVAS APARTMENTS INVESTMENT SUMMARY A Single Purpose Delaware limited liability company (the “Company”) will be created to acquire the Property, either directly or through a wholly-owned subsidiary, and hold the investment between all of the Investors (the “LPs”) and the Sponsor (the “GP”). Additionally, the Sponsor shall defer a portion of its Acquisition Fee (the “Waived Fee”) in exchange for a profits interest in the Company, and with respect to such profits interest shall be considered an LP. All LPs will get monthly distributions from operating cash flows while the bridge loan is in place. All operating cash flows shall be distributed as follows: first, the LPs (including the Sponsor with respect to its Waived Fee) will receive an 8% preferred return on their initial equity Contributed, and after the preferred return is paid, the excess cash flow will be split 60% to the LPs (pro rata) and 40% to the GP. After year 1, the Sponsor will cause the Company to refinance the bridge loan with a permanent loan, which replacement permanent loan will be a HUD 223F loan. This is a 35-year amortizing schedule loan providing a lower rate than traditional agencies with several benefits. This refinancing will produce refinancing proceeds of approximately $2,717,479 which equates to about 50% of the total initial equity of the LPs. The refinancing proceeds shall be distributed as follows: first, the LPs (including the Sponsor with respect to its Waived Fee) will receive an 8% preferred return on their initial equity contributed, and after the preferred return is paid, the excess refinancing proceeds will be distributed to the LPs as a return of capital, effectively resulting in a return of nearly 50% of the LPs initial contributed equity after year 1. Additionally, these proceeds will also be distributed tax-free as loan proceeds are not eligible to be taxed. 27 MULTIFAMILY FUNDAMENTALS

  27. CANVAS APARTMENTS INVESTMENT SUMMARY Finally, following a sale of the Property, the sale proceeds shall be distributed as follows: first, the LPs (including the Sponsor with respect to its Waived Fee) will receive an 8% preferred return on their initial equity contributed; second, after the preferred return is paid, the LPs (not included in the Sponsor) shall receive a return of their remaining capital contributions; third, Sponsor shall receive the amount of its Waived Fee not previously paid during the refinancing; and finally, the excess sales proceeds will be distributed 60% to the LPs (pro rata) and 40% to the GP. The deal is currently in lease-up and will be stabilized upon closing. Our plan is to hold this asset long-term to build wealth and capital preservation to avoid capital gains by focusing on tax expense reduction and cash flow maximization. Please see all return metrics on the next page. 28 MULTIFAMILY FUNDAMENTALS

  28. Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Cash Flow From Asset 796,410 212,304 292,879 327,230 362,319 394,203 426,673 459,743 493,428 527,743 1% Asset Management Fee + 0.25% Guarantee Fee starting Year 2 $ 54,507 73,065 73,065 73,065 73,065 73,065 73,065 73,065 73,065 73,065 Cash Flow Available $ 741,903 139,239 219,814 254,164 289,254 321,138 353,608 386,678 420,363 454,678 Total Preferred Return 8% $ 436,058 139,239 218,660 218,660 218,660 218,660 218,660 218,660 218,660 218,660 GP Share of Equity LP Equity 9.06% 90.94% $ $ 39,520 396,538 12,619 126,620 19,817 198,843 19,817 198,843 19,817 198,843 19,817 198,843 19,817 198,843 19,817 198,843 19,817 198,843 19,817 198,843 Cash Flow After Preferred Return $ 305,845 - 1,154 35,504 70,593 102,478 134,948 168,018 201,703 236,017 Promote LP $ $ $ 183,507 16,631 166,876 - - - 692.26 62.74 629.52 21,303 1,931 19,372 42,356 3,839 38,517 61,487 5,573 55,914 80,969 7,338 73,631 100,811 9,136 91,674 121,022 10,968 110,054 141,610 12,834 128,776 60% GP Share of Equity LP Equity 9.06% 90.94% Sale Proceeds $ - - - - - - 11,039,234 - - - 60% LP $ $ $ - - - - - - - - - - - - - - - - - - 7,716,841 699,378 7,017,463 - - - - - - - - - 9.06% 90.94% GP Share of Proceeds LP Share of Proceeds $ 2,717,479 Refi Procceds GP Share of Proceeds LP Share of Proceeds 9.06% 90.94% $ $ 246,285 2,471,193 Total Cash Flow LP Equity $ 3,034,607 $ 126,620 $ 199,472 $ 218,215 $ 237,360 $ 254,757 $ 7,289,936 $ 290,517 $ 308,897 $ 327,619 COC LP Equity 60.03% 5.09% 8.03% 8.78% 9.55% 10.25% 10.96% 11.69% 12.43% 13.18% Return Metrics LP Equity Multiple 4.26 4.57 5.12 30.74% 18.29% 26.15% 16.10% 22.58% 15.00% 5 Year 100% Fund IRR 5 Year Average Cash-On-Cash to LP 7 Year 100% Fund IRR 7 Year Average Cash-On-Cash to LP 10 Year 100% Fund IRR 10 Year Average Cash-On-Cash to LP

  29. ORGANIZATIONAL STRUCTURE Property Owner Canvas, 2022 LLC (ADelawareSingle Purpose Entity Limited Liability Company) Manager / Individual InvestorUnits 30 MULTIFAMILY FUNDAMENTALS

  30. DISCLAIMER This material does not constitute and should not be construed as an Offering of advisory services or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction in which such offer or solicitation, purchase or sale would be unlawful under the securities, insurance or other laws of such jurisdiction. Responses to any inquiry which may involve rendering of personalized investment advice for compensation or effecting or attempting to effect transactions in securities will not be made absent compliance with state broker dealer, investment advisor or applicable agent or representative registration requirements, or applicable exemptions or exclusions therefrom. The term “Providence Investments” used herein refers to Providence Investments, LLC, an Alabama limited liability company, and its affiliates. A potential investor considering an investment in this project through a vehicle sponsored by Providence Investments (the “Fund”) should read this brochure in conjunction with the Fund’s confidential private placement memorandum (the “PPM”). The PPM contains a more complete description of the Fund’s investment practices, restrictions, risks and other factors relevant to a decision to invest. All information herein is subject to and is qualified in its entirety by the PPM. Terms used but not defined herein shall have the meanings set forth in the PPM. Any potential investor should direct all inquiries regarding the Fund to a client service representative of Providence Investments or such other placement agent. 31

  31. DISCLAIMER This brochure is being provided on a confidential basis solely for the information of those persons to whom it is given. The materials, including the information contained herein, may not be copied, reproduced, republished, posted, transmitted, distributed, disseminated or disclosed, in whole or in part, to any other person in any way without the prior written consent of Providence Investments. By accepting this brochure, you agree that you will comply with these confidentiality restrictions and acknowledge that your compliance is a material inducement to our providing this brochure to you. Any targeted returns, projections or other estimates in this investment summary, including estimates of refinancing proceeds, returns or performance, are forward-looking statements and are based upon certain assumptions. Sponsor believes there is a sound basis for achieving any targeted returns contained herein; however, other events, which may not have been taken into account, may occur and may significantly affect the outcome. Any assumptions should not be construed to be indicative of the actual events that will occur. Actual events are difficult to predict and may depend upon factors that are beyond the control of the Company and the Sponsor. Certain assumptions have been made to simplify the presentation and, accordingly, actual results may differ, and may differ significantly, from those presented herein. 32

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