Riverview Industrial Park
1671 Riverview Drive, Lewisville, Texas
Property Overview:
Riverview is a two building multi-tenant (flexible) warehouse space, located in Lewisville – a suburb in the fast growing north west of Dallas, approximately 30 kilometres north of Downtown Dallas and a ten minute drive from the Dallas Fort-Worth international airport. The buildings were constructed in 2006 and 2010 and as such are of newer construction.
There buildings are situated on 4.06 acres of land and comprise a total of 46,872 square feet, split as:
- Building 1: 21,600 square feet, split into 12 flexible space units.
- Building 2: 25,272 square feet, split into 12 flexible space units.
At purchase the building was 100% occupied.
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 |
26 December 2013 |
|
Contract purchase price |
$3,600,000 |
|
Original listed price |
$3,900,000 |
|
Discount to listing price |
$300,000 |
|
Independently appraised price |
$3,600,000 |
|
Occupancy at purchase date |
100% |
Appraisal date and appraiser |
10 December 2013 |
|
Finance terms |
$1,440,000 owner finance at 5% interest-only for five years. |
|
Gross Building Area |
26,872 sq ft (3,763 sq mtrs) |
|
Land size |
176,853 sq ft (16,390 sq mtrs) |
|
At purchase estimated net operating income |
$307,418 |
|
At purchase estimated cap rate |
8.54% |
|
At purchase estimated cash on cash return |
10.85% |
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:
View Larger Map
More information on key terms:
| 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. |
