Cold Storage

COLD STORAGE LOGISTICS FACILTY at Port Everglades and Fort Lauderdale – Hollywood International Airport

Investment  Overview

Property Highlights

  • Up to 80,000 SF of cooler/freezer space, design to suit
  • 5 million cubic feet
  • 40’ clear height to maximize cubic space
  • Capacity of up to approximately 10,000 pallet positions
  • Multiple dock high loading positions
  • Quell fire  sprinkler system

 

Location Advantages

  • Situated at the epicenter of South Florida’s booming Trade and Tourism industry
  • Perfect hub for businesses that trade with the Caribbean and South & Central America
  • Less than 1 mile to the Port Everglades’ main security gate
  • Less than 1 mile to Fort Lauderdale/Hollywood International Airport
  • Direct Access to All Major Florida Highways: I-595, I-95, Florida Turnpike & I-75

 

Port  Everglades  Information  & Statistics

  • Florida’s #1 Port for perishables
  • Florida’s #1 Sea Port for import/export trade
  • Top exporting FTZ in the country for warehouse and distribution activity, ranked by the FTZ Board
  • World’s 3rd Busiest Cruise Port

 

 

PROFORMA TERM SHEET

Re:       $5,395,361.00 Dequity Loan including interest reserve

Profit Participating Mortgage Loan

For acquisition and completion of 80,435 SF Cold Storage to be located in Dania Beach, FL

Ref: CL-20161001.V.5

The Dequity loan investment is being considered under the following basic terms:

  1. Property Cost:                         $4,568,000 – Acquisition & Development Costs

$10,456,550 – Construction Cost

   $4,293,320 – Financing, Soft Costs and Closing Costs

$19,317,870

  1. Sponsor Equity:                                          $400,000
  1. Senior Lender:                                            $13,552,509
  1. Exit Term; 3  years
  1. Lender Participation in Profit: $2,995,625  Estimated Total – Actual Amount Based on: a)  36% of Exit Valuation –

$4,423,361        Net Available for Drawing

$872,000        Interest Reserve

$5,395,361        Face Amount of Loan

Term:    3 years

 

Interest Rate:     8% p.a. – Interest only – computed on outstanding advances

 

Collateral:         Second Mortgage & Pledge & Assignment of Membership Interest in Borrower                                       Entity

Exit Year NOI $1,333,048
CAP Rate 5.50%
Exit Valuation $24,237,237
Net Exit Value $23,752,492
Net Cash Flows $(155,158)
Total Costs $19,317,870
Total Profit $4,279,464

Profit Split:

Sponsor: $1,175,228

Dequity investor: $4,107,965

Based on either the Actual Sales Price, or an Exit Value – Computed on the Current Year End NOI multiplied by the “Following Year NOI Factor” at the Established CAP Rate.

 

Dequity PARTICIPANTS
 Year 1  Year 2  Year 3  Total
Intererst on Loan    353,342    477,140  498,067  $                     –  1,328,549
Share in Net Project Exit Profit  $                –  $                –  2,995,625  $                –   2,995,625
OSC CF Participants Gross Return     353,342     477,140    3,493,692  $                –
Less Servicing Fee 5.00%     (17,667)    (23,857)    (174,685)  $                –
CF Earnings     335,675    453,283   3,319,007  $                –
Less Promote Paid to Lead Lender 0.00%  $                –  $                –  $                –  $                –
Net CF Returns  $     335,675  $     453,283    3,319,007  $                –
Return of Investment  $                     –  $                     –   5,395,361  $                     –
Total Net Cash Flow to Investors     335,675      453,283   8,714,368  $                –     9,503,326
1.76
Total Funds Flow to Dequity Investors  (5,395,361)      335,675     453,283   8,714,368  $                –  Profit   4,107,965
Cash on Cash Return     6.22% 8.40% 161.52% 0.00%  
IRR to Dequity Investors      21.87%