Property Details
Below Market Occupancy  NOI Growth 
Asset Profile
Value Add

Mariposa Point Assisted Living & Memory Care

Phoenix, AZ

Assisted Living Property
McFarlin Group Dallas, TX
McFarlin Group
  • IRR 22.8%
  • Equity Multiple 2.2x
  • Hold Period 4Y
  • Minimum Investment $25K
  • Year 1 Cash on Cash 0%
  • Stabilized Cash on Cash 9.3% in Y4
  • First Distribution Aug 2021
  • Distribution Frequency Quarterly
  • Co-Investment 10%
  • Preferred Return 12%
  • Investor Profit Share 80%
  • Asset Profile Value Add
  • Loan-to-Value 92%
  • Current Occupancy 17%

About this Property

Why This Property?

Matt Johnson, McFarlin Group: "There is limited competition within 5 miles of the Property. There is no incentive for the current manager to be successful at growing occupancy and managing variable expenses. We operate three other assets in the area and can leverage our success at the other similar assets to help this Property achieve success. Acquisition pricing below replacement cost. Growing demand for senior housing in the area."



Why Do You Like This Strategy?

Matt Johnson, McFarlin Group: "We can buy a brand new asset with institutional quality construction at less than replacement cost in a market that is showing increasing senior living demand. We are capitalizing on temporary distress from an investor that is exiting the market."



How Are You Mitigating Risks?

Matt Johnson, McFarlin Group: "Manager/operator investing in the project creates alignment. Reset the basis through acquisition price allowing us to decrease rents and buy market share."

About this Property

Why This Property?

Matt Johnson, McFarlin Group: "There is limited competition within 5 miles of the Property. There is no incentive for the current manager to be successful at growing occupancy and managing variable expenses. We operate three other assets in the area and can leverage our success at the other similar assets to help this Property achieve success. Acquisition pricing below replacement cost. Growing demand for senior housing in the area."



Why Do You Like This Strategy?

Matt Johnson, McFarlin Group: "We can buy a brand new asset with institutional quality construction at less than replacement cost in a market that is showing increasing senior living demand. We are capitalizing on temporary distress from an investor that is exiting the market."



How Are You Mitigating Risks?

Matt Johnson, McFarlin Group: "Manager/operator investing in the project creates alignment. Reset the basis through acquisition price allowing us to decrease rents and buy market share."

Offered By

McFarlin Group

McFarlin Group

Dallas, TX

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Assets Under
Management

Currently
$165MM less than 10 assets
Exited
$123.75MM less than 10 assets
Portfolio LTV
65%  
Historical
Realized Returns

Total IRR
28%  
Equity Multiple
2.04x  
Annual Cash
28%  
Years Of
Experience

As Principals
15+ years  
In Business
11 years  
Size
13 Staff * Dedicated investor relations
* All information is reported by McFarlin Group as of 6/6/2019.
Assets Under
Management

Currently
$165MM less than 10 assets
Exited
$123.75MM less than 10 assets
Portfolio LTV
65%  
Historical
Returns

Total IRR
28%  
Equity Multiple
2.04x  
Annual Cash
28%  
Years Of
Experience

As Principals
15+ years  
In Business
11 years  
Size
13 Staff * Dedicated investor relations
* All information is reported by McFarlin Group as of 6/6/2019.

Financials

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Offering Financial

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Location Details

Phoenix, AZ

Immediate uses surrounding the Property are single family residential and vacant land within the Algodón Medical Office Park. Banner Estrella Medical Center is located directly south of the Algodón Medical Office Park. The neighborhood is mainly made up of single and multi-family residences on secondary streets, with commercial uses along thoroughfares, in addition to several vacant lots. There are numerous projects that have either been proposed or are currently being developed. While the majority of these projects are retail-focused, there is one that is health-care related. The Wellsprings Therapy Center of Estrella is a 20,000 SF skilled nursing facility that is being developed by ClearWater Development which will act as a referral source for the Property.

Documents

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Offering Agreement Documents

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