Operations are governed under a master lease structure where the master tenant retains 80% of gross income above specific hurdles. Initial Year 1 cash flow is projected at 4.43%.
Ongoing fee rates
Master Tenant Income80%
Asset Mgmt Fee (annual)
$22,555
per calendar year
Master Tenant Income
80%
Disposition Fee
Two
of percent (2%) of the gross sales price of the Property
CM Fee
$34,700,000
Trust Administration
An
initial fee, monthly fees, and document execution fees
Strengths
- 2024 construction limits near-term operational maintenance burdens
- Projected 4.43% Year 1 yield supported by master lease structure
Concerns
- Property employee headcount details are not disclosed
- High interest expense requires consistent property-level operational execution