Power 5 Conference Student Housing I, DST
Strategic 1031 Properties, LLC
1031 Exchange Investor: $100,000
Equity Offering: $59,200,000
- Cash Investor: $25,000
- Fully-Loaded LTV: 51.97%
- $4,250,000 up front for future capital expenditures and unforeseen repairs.
UNIVERSITY OF MICHIGAN
- 3 blocks from the University of Michigan
- Constructed in 2009
- Fully furnished, energy-efficient appliances
- 10-story building with 93,780 square feet
- 97 units / 345 beds
Strategic 1031 Properties, LLC
UNIVERSITY OF SOUTH CAROLINA
- 1 block from the University of South Carolina
- Constructed in 2009
- Fully furnished, energy-efficient appliances
- 4-story property with 366,442 square feet
- 400 units / 760 beds
Property Description
WHY UNIVERSITY OF MICHIGAN?
- Michigan is an NCAA Division I FBS school with an endowment of $10.9 billion as of 2017
- Michigan’s 2017 enrollment was 46,002 students
- Michigan is a member of the Big 10 Conference
- Michigan is one of the world’s leading research universities and offers highly ranked graduate programs that include business, law, medicine, and engineering
Michigan Property Summary
- Investment Product: Purpose-Built Student Housing
- Location: Three blocks from University of Michigan
- Address: 411 E Washington St Ann Arbor, MI 48104
- Enrollment: 46,002
- Year Built: 2009
- Occupancy: 98% Leased
- Total Units / Beds: 97 / 345 Fully Furnished
- Interest Rate: 4.34% Fixed Rate
- Loan Terms: 10 year Fannie Mae with 5 year interest only, 30 year amortization thereafter
- Interior Finishes: Full kitchen in each unit with granite counters, dishwasher and microwave, flat-panel HDTV, Wi-Fi, key card entry, energy efficient lighting
- Community Amenities: 10th floor sky lounge with fitness center, big screen TV, study room, laundry facilities, attended lobby and cameras, onsite retail and restaurants
WHY UNIVERSITY OF SOUTH CAROLINA?
- South Carolina competes in NCAA Division I athletics in the Southeastern Conference (SEC)
- South Carolina’s 2017 enrollment was 34,099
- The Carnegie Foundation awarded South Carolina the highest rating for research activity
- The University participates in the SmartState Program which creates Centers of Excellence to advance research and boost the state’s economy
South Carolina Property Summary
- Investment Product: Purpose-Built Student Housing
- Location: One block from University of South Carolina
- Address: 1000 Whaley St Columbia, SC 29201
- Enrollment: 34,099
- Year Built: 2009
- Occupancy: 100% Leased
- Total Units / Beds: 400 / 760 Fully Furnished
- Interest Rate: 4.14% Fixed Rate
- Loan Terms: 10+ year Fannie Mae with 5+ year interest only, 30 year amortization thereafter
- Interior Finishes: Full-size washers and dryers, hardwoodstyle kitchen floors, electronic key locks, modern appliance package, private balconies, Wi-Fi and cable
- Community Amenities: Resort-style swimming pool with courtyards and grilling station, club room, business center with computer lab, 24-hour fitness center
ABOUT Michigan & South Carolina
Equity Offering: $59,200,000 of beneficial interests in the Trust
Minimum Investment: 1031 Exchange Investor: $100,000
Cash Investor: $25,000
Fully-Loaded LTV: 51.97%
Reserves: $4,250,000 up front for future capital expenditures and unforeseen repairs. An additional $143,684 per year will be reserved for FFE (Furniture, Fixtures and Equipment) replacement and scheduled repairs and maintenance.