Morgantown Teaser

THE LOFTS

Morgantown, West Virginia Investment Type

Acquisition Value Add

Targeted Hold Period

3 - 5 Years

Minimum Investment

$100,000 +

Class B Common Member Class

8% Preferred Return 7% Supplemental Return +25% Profit Split on Sale

VALUE-ADD OPPORTUNITY LOW-COST BASIS ENTRY POINT STRONG REPUTATION - NO PLANNED REBRAND NEW UNIVERSITY PRESIDENT WITH A STRONG RECORD OF ENROLLMENT GROWTH

OUTSTANDING OPPORTUNITY! West Virginia University

21,000+ STUDENTS #1 BEST UNIVERSITY IN WEST VIRGINIA

648 BEDS | 218 UNITS

T A I L W I N D group

PROJECT OVERVIEW

COMMUNITY

AMENITIES 24-H OU R FITNE SS C E N TE R

Property Name

The Lofts Morgantown

City, State

Morgantown, West Virginia

No. Beds

648

No. Units

218

Year Built

2010

Avg. Unit Size (sf)

1,294 SF

Avg. Market Rent / Bed

$656

University

West Virginia University

Total Enrollment

21,000+

Current Occupancy

88%

D OG PA R K

COFFE E BA R

T WO BUS STOP S

2 M ILE S FROM CA MPUS

BUSINESS PLAN

SOURCES & USES Amount

$/Bed

Acquisition Price

$20,350,000

$31,404

CapEx

$3,350,000

$5,170

Transaction Cost

$1,248,000

$1,926

Working & Capital Reserves

$1,682,000

$2,596

TOTAL USES

$26,630,000

$41,096

Equity

$7,000,000

$10,803

Debt

$19,630,000

$30,293

TOTAL SOURCES

$26,630,000

$41,096

Uses

R E S ORT SWIM M IN G PO O L

• Commence $3,350,000 clubhouse / unit renovations after closing. Clubhouse/Common area upgrades include an extension of the fitness center and reconfiguration of clubhouse to create more open and inviting spaces. Unit upgrades complete by 2025, clubhouse/common area renovation to be completed March 2026.

• Unit upgrades include all new smart technology and implementation of Systainable water conservation project.

Sources

T A I L W I N D group

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