northwoods business center peachtree corners / atlanta, georgia deal closed: july lake park drive smyrna / atlanta, GA deal closed: may 2010

Transcription

1 northwoods business center peachtree corners / atlanta, georgia deal closed: july lake park drive smyrna / atlanta, GA deal closed: may 2010 royal phoenix campus college park / atlanta, georgia deal closed: september 2010 and december tri-county parkway springfield / cincinnati, ohio deal closed: march 2011 bluegrass lakes parkway alpharetta / atlanta, georgia deal closed: november 2011 lakeview 400 georgia 400 / alpharetta / atlanta, GA deal closed: december 2011

2 OA Development, founded in 1993, is known for its savvy pairing of local and global capital with high-quality commercial properties in the Southeast and Midwest regions. OA is creating a portfolio that capitalizes on deleveraged pricing and value-added opportunities. OA s success in a market that is starved for capital is a result of the team s ability to combine exhaustive due diligence, strong investor relationships, creative financing and an impressive track record of seeing deals through to closing. Many of OA s acquisitions were made with little, or no debt and prudent risk management. This allows OA to renovate existing buildings, quickly increase occupancy and make sizable returns to investors. OA is well positioned to continue to acquire new projects and unlock unprecedented value in a market that is experiencing larger valuation changes than any time over the past 80 years. Since 2009 OA has acquired 650,000 square feet of space and generated above-market returns. Our investors are anticipating healthy rates of return in the near term as the real estate market moves through its recovery cycle. Total Investment (properties acquired 2009-present) $48,680,000 Total Debt $18,490,000 Total Equity $26,190,000 Loan to Purchase Price 41.4% Return on Equity 8.4% (Projected Annualized for 2012)

3 Northwoods Business Center Peachtree Corners / Atlanta, GA Acquired: July 2009 Price: $6.0 million Debt/Equity: 38/62 Square Feet: 110,000 Occupancy: 59% Price PSF: $54.55 Replacement Cost of Asset: $100 - $120 PSF Cash on Cash Return: 5% Projected IRR: 18% Mix of Local Tenants from 2,000-15,000 square feet This three building business park is located in the heart of Peachtree Corners in Northeast Atlanta and is currently 70% occupied. After an extensive cost segregation study was conducted financial performance for 2010 ranged from 9-13% depending on investors tax bracket. northwoods business center peachtree corners / atlanta, georgia

4 2400 Lake Park Drive Smyrna / Atlanta, GA Acquired: May 2010 Price: $8.5 million Debt/Equity: 59/41 Square Feet: 104,694 Occupancy: 77% Price per Square Foot: $82 Replacement Cost of Asset: $150-$175 PSF Cash on Cash Return: 10% Projected IRR: 20.91% 2400 lake park drive smyrna / atlanta, georgia General Services Administration United Accpetance This four story office building in the Metro Atlanta Northwest/Galleria market is 42% occupied by the GSA and has a very stable cash flow with no significant lease rollover exposure for three years.

5 Royal Phoenix Campus College Park / Atlanta, GA Acquired: September 2010 and December 2010 Price: Debt/Equity: $6.5 million No Debt Square Feet: 158,335 Occupancy: 40% Price per Square Foot: $38 Replacement Cost of Asset: $100 PSF Cash on Cash Return: 7.5% Projected IRR: 24.08% royal phoenix campus college park / atlanta, georgia Bank of America Fresenius Porsche This six building complex less than a mile from Hartsfield Jackson International Airport was purchased in two stages in late 2010, three buildings from a private owner and three buildings from a special servicer. The six buildings have had new landscaping and parking installed.

6 Acquired: March 2011 Price: $2.9 million Debt/Equity: No Debt Square Feet: 41,930 Occupancy: 100% Price per Square Foot: $69 Replacement Cost of Asset: $150 PSF Cash on Cash Return: 11% Projected IRR: 16.8% springfield / cincinnati, ohio Springfield / Cincinnati, OH 111 tri-county parkway 111 Tri-County Parkway Cincinnati Bell This two story building in Cincinnati, Ohio is 100% leased to Cincinnati Bell (2011 Revenues of $1.4B). This is a mission critical technology center for CB. The lease expires in four years.

7 Acquired: November 2011 Price: $9.6 million Debt/Equity: 52/48 Square Feet: 93,963 Occupancy: 73% Price per Square Foot: $102 Replacement Cost of Asset: $220 PSF Cash on Cash Return: 9.82% Projected IRR: 19.31% alpharetta / atlanta, georgia Alpharetta / Atlanta, GA bluegrass Lakes parkway Bluegrass Lakes Parkway Lonza Chemicals This single story flex building in the dynamic Georgia 400 corridor of Alpharetta is leased to Lonza (2011 Revenues of $5B) from Switzerland. The tenant has spent over $10M on improvements for lab space and is less than a year into a ten year lease on the property. The available 24,000 square feet will either be leased to Lonza or to other tenants in the marketplace.

8 Lakeview 400 Georgia 400 / Alpharetta / Atlanta, GA Acquired: December 2011 Price: Debt/Equity: 56/44 $11.2 million Square Feet: 135,161 Occupancy: 89% Price per Square Foot: $76.95 Replacement Cost of Asset: $150 PSF Cash on Cash Return: 12.5% Projected IRR: 27.84% ADP This two building complex in the heart of the Windward/Alpharetta market is 56% leased to ADP. ADP has occupied the property nine years and their lease expires in three years time. Funds have been escrowed to anticipate the possibility of a non renewal by ADP. At this time, ADP has not indicated what they intend to do upon the expiration of the lease. lakeview 400 georgia 400 / alpharetta / atlanta, ga