6570 – 6640 Tara Blvd, Jonesboro, Georgia, 30236
Property Overview:
Shops Of Tara comprises approx 7.3 acres of land and has been improved to contain two retail buildings constructed in circa 1984 that in total comprise 69,756 square foot of gross lettable area.
The property is located approximately 10 minutes by car from Hartsfield-Jackson (Atlanta) International Airport – the busiest airport in the world. Within one mile or less from the property are: Dollar General, Burger King, Dollar Tree, Red Lobster, Office Depot, Dunkin Donuts, McDonalds, Subway, and more.
Financial Information:
Disclaimer: Information provided about forecast annual net cash flow and cash on cash returns are derived from unaudited financial projections. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Responsible Entity. The Responsible Entity cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.
| Acquisition date | 9 May 2014 |
| Contract purchase price | $3,175,000 |
| Original listed price | $4,000,000 |
| Discount to listing price | $825,000 |
| Independently appraised price | $3,850,000 |
| Occupancy at purchase date | 37% | Appraisal date and appraiser | 31 March 2014 Schlemmer Appraisal Company |
| Finance terms | All cash |
| Gross Building Area | 69,756 sq ft (6,480 sq mtrs) |
| Land size | 317,988 sq ft (29,542 sq mtrs) |
| At purchase estimated net operating income | $219,075 |
| At purchase estimated cap rate | 6.90% |
| At purchase estimated cash on cash return | N/A |
Further Notes:
Currency: All numbers are shown in USD. Returns shown have not been translated into Australian dollars as the exchange rate varies. A AUD:USD exchange rate below AUD1:USD1 will increase the percentage return. A AUD:USD exchange rate in excess of AUD1:USD1 will decrease the return.
Management costs: Returns shown above include US management costs, but exclude the management fee charged by the Responsible Entity (1.98% per annum of Gross Assets).
Returns: Returns prior to the property being stabilized are expected to be lower than those forecast above as once off due diligence costs are absorbed, and as less income is received from vacancies as at purchase date. Unless otherwise noted, properties are expected to be stabilized within 12 months of acquisition.
Aerial Picture:
| Net operating income: | Operating income – operating expenses |
| Capitalization rate: | (Net operating income ÷ Purchase price) × 100 |
| Cash on Cash return: | (Annual cash back ÷ Cash down) × 100 |
| At purchase capitalization rate: | Using unaudited management forecasts, the estimated capitalization rate at purchase date. |
| At purchase cash on cash return: | Using unaudited management forecasts, the estimated cash on cash return at purchase date. |
