Real Estate Forum April 2014 The Property Existing 56,000 sf 6 - - PowerPoint PPT Presentation

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Jan 13, 2024 459 likes •563 views

SCU Presentation Winnipeg Real Estate Forum April 2014 The Property Existing 56,000 sf 6 floor (incl basement) mixed use property Location Downtown Winnipeg Exchange District Loan Amount - $2.2 million Loan Purpose - Purchase

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SCU Presentation Winnipeg Real Estate Forum April 2014

SLIDE 2

The Property

Existing 56,000 sf 6 floor (incl basement) mixed use

property

Location – Downtown Winnipeg Exchange District
Loan Amount - $2.2 million
Loan Purpose - Purchase

SLIDE 3

SCU Case Study

SLIDE 4

SLIDE 5

Challenges

Historical Building designation
115 year old building
High leverage
High Vacancy
Short term gross leases

SLIDE 6

Mitigation

Appraisal, Condition Report, Environmental Report
Vendor remains a tenant
Flexible re-development plan
Experienced Purchaser, well known to SCU
A Committed owner with outside income support

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Structure and What Makes it All Possible

70% SCU 1st mortgage
V-T-B brought leverage to 78%
Acceleration of 20 year am > 15 years based on

additional lease-up

DSCR 1:1 increasing as lease income improves
Knowing the member

SLIDE 8