Operations project an initial Year 1 cash yield of 4.47% expanding to an average full-term distribution of 5.05%, supported by 2.06x debt service coverage.
Ongoing fee rates
Strengths
- Solid 2.06x DSCR offers cash flow buffer
- Projected distribution growth from 4.47% to 5.05%
Concerns
- Yield growth is dependent on property-level rent growth