Property Details
Ground-Up Development 
Asset Profile
Opportunistic

Kiddie Academy, Restaurant and Pad Development in San Antonio MSA

Boerne, TX

Mixed-Use Property

This deal is oversubscribed

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The Woodmont Company Fort Worth, TX
The Woodmont Company
  • IRR 26.27%
  • Equity Multiple 1.53x
  • Hold Period 22M
  • Minimum Investment $25K
  • Year 1 Cash on Cash N/A
  • Stabilized Cash on Cash N/A
  • First Distribution May 2024
  • Distribution Frequency Yearly
  • Co-Investment 10% ($171K)
  • Preferred Return 8%
  • Investor Profit Share 60%
  • Asset Profile Opportunistic
  • Loan-to-Value 80%
  • Current Occupancy 0%

About this Property

"The development of an 11,000 SF Kiddie Academy facility with an experienced operator, a ground lease to an award winning restaurateur, and the sale of +/- 2.2 acres of land all taking place in the city of Boerne (San Antonio MSA), the city is projected to grow by 10% in the next 5 years."

-Stephen Coslik, The Woodmont Company

Address 12 Herff Rd.
Square Footage 11,000 sq. ft.
Market Occupancy 95%
Average Market Rents N/A
Total Project Cost $8,580,000
Price per Square Foot $780
Stabilized Loan to Value N/A
"The Company will submit for a special use permit ("SUP") before closing and it is anticipated the SUP will be heard by city council during the first two weeks of September. Once the SUP is approved, the Company will make formal applications for building permit. The Company anticipates receiving the building permit before the end of the year."


Top Questions

All answers are provided by the sponsor, The Woodmont Company, or its representatives.

 

Why are you buying this property?

Stephen Coslik, The Woodmont Company: "This city of Boerne is experiencing rapid growth and lacks quality day care options making this a prime opportunity for the development of this facility. Given the market and no state income tax of Texas projecting that this property will sell at a premium. There is a house located on the property that can be converted to a restaurant and with the relationship The Woodmont Company has with a restauranteur. The Company projects that it can lease the house to the restaurant group and sell the property at an accretive cap rate increasing investors returns. With the addition of the restaurant and day care the Company believes the increased traffic will make the extra pads more marketable for sale or development."

 

What are the most important aspects of this investment opportunity for the investors?

Stephen Coslik, The Woodmont Company:

  • "The Company will have a signed lease with an experienced franchisee for Kiddie Academy at close"
  • "The partnership is projecting to investors an IRR of 26.27% over a 22 month hold."
  • "The location in one of the fastest growing cities in Texas will make it an attractive opportunity when the Company sells it"
  • "Having a restaurant prospect at closing will bring additional traffic and interest to the property"

 

What is your investment strategy/business plan for the Property?

Stephen Coslik, The Woodmont Company:

  • "To ground lease the restaurant and sell it on the open market"
  • "To build the Kiddie Academy and sell it on the open market"
  • "To market the excess land for sale, build to suite or lease"

 

How has COVID-19 impacted your business plan?

Stephen Coslik, The Woodmont Company: “It has not.”

 

What are the risks and how are you mitigating those risks?

Stephen Coslik, The Woodmont Company: "The Woodmont Company has brought construction in house allowing Woodmont to have the ability to better manage the costs and timeline of construction. The Company will have a signed lease with the franchisee at closing as well. By buying additional land the Company can control what goes next to the Kiddie Academy increasing it's value."


NOTE: All answers provided by the sponsor, The Woodmont Company, or its representatives.

About this Property

"The development of an 11,000 SF Kiddie Academy facility with an experienced operator, a ground lease to an award winning restaurateur, and the sale of +/- 2.2 acres of land all taking place in the city of Boerne (San Antonio MSA), the city is projected to grow by 10% in the next 5 years."

-Stephen Coslik, The Woodmont Company

Address 12 Herff Rd.
Square Footage 11,000 sq. ft.
Market Occupancy 95%
Average Market Rents N/A
Total Project Cost $8,580,000
Price per Square Foot $780
Stabilized Loan to Value N/A
"The Company will submit for a special use permit ("SUP") before closing and it is anticipated the SUP will be heard by city council during the first two weeks of September. Once the SUP is approved, the Company will make formal applications for building permit. The Company anticipates receiving the building permit before the end of the year."


Top Questions

All answers are provided by the sponsor, The Woodmont Company, or its representatives.

 

Why are you buying this property?

Stephen Coslik, The Woodmont Company: "This city of Boerne is experiencing rapid growth and lacks quality day care options making this a prime opportunity for the development of this facility. Given the market and no state income tax of Texas projecting that this property will sell at a premium. There is a house located on the property that can be converted to a restaurant and with the relationship The Woodmont Company has with a restauranteur. The Company projects that it can lease the house to the restaurant group and sell the property at an accretive cap rate increasing investors returns. With the addition of the restaurant and day care the Company believes the increased traffic will make the extra pads more marketable for sale or development."

 

What are the most important aspects of this investment opportunity for the investors?

Stephen Coslik, The Woodmont Company:

  • "The Company will have a signed lease with an experienced franchisee for Kiddie Academy at close"
  • "The partnership is projecting to investors an IRR of 26.27% over a 22 month hold."
  • "The location in one of the fastest growing cities in Texas will make it an attractive opportunity when the Company sells it"
  • "Having a restaurant prospect at closing will bring additional traffic and interest to the property"

 

What is your investment strategy/business plan for the Property?

Stephen Coslik, The Woodmont Company:

  • "To ground lease the restaurant and sell it on the open market"
  • "To build the Kiddie Academy and sell it on the open market"
  • "To market the excess land for sale, build to suite or lease"

 

How has COVID-19 impacted your business plan?

Stephen Coslik, The Woodmont Company: “It has not.”

 

What are the risks and how are you mitigating those risks?

Stephen Coslik, The Woodmont Company: "The Woodmont Company has brought construction in house allowing Woodmont to have the ability to better manage the costs and timeline of construction. The Company will have a signed lease with the franchisee at closing as well. By buying additional land the Company can control what goes next to the Kiddie Academy increasing it's value."


NOTE: All answers provided by the sponsor, The Woodmont Company, or its representatives.

Offered By

The Woodmont Company

The Woodmont Company

Fort Worth, TX

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Assets Under
Management

Currently
$244.81MM 10+ assets
Exited
$500MM 10+ assets
Portfolio LTV
43.7%  
Historical
Realized Returns

Total IRR
24.4%  
Equity Multiple
1.6x  
Annual Cash
11.6%  
Years Of
Experience

As Principals
30+ years  
In Business
42 years  
Size
70 Staff  
* All information is reported by The Woodmont Company as of 5/21/2021.
Assets Under
Management

Currently
$244.81MM 10+ assets
Exited
$500MM 10+ assets
Portfolio LTV
43.7%  
Historical
Returns

Total IRR
24.4%  
Equity Multiple
1.6x  
Annual Cash
11.6%  
Years Of
Experience

As Principals
30+ years  
In Business
42 years  
Size
70 Staff  
* All information is reported by The Woodmont Company as of 5/21/2021.

Financials

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Offering Financial

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Location Details

Boerne, TX

Stephen Coslik, The Woodmont Company: "This project is located in a busy part of town with combined traffic counts of over 40,000 cars per day. The market is also growing quickly with a 10% projected increase in population in the next 5 years."

Documents

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Offering Agreement Documents

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