LLOG Exploration Office Park
| Type of Property: | 105,000 sf Class A Office Building |
| Development Size: | 23.50 Acres |
| Location: | Covington, Louisiana |
| Type of Project: | Office Park is being built on behalf of LLOG Exploration to become their new Corporate Headquarters. |
| Development Date: | Currently Under Construction |
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Brookstone Park Apartments
| Type of Property: | 240 Unit Class A Luxury Apartment |
| Development Size: | 14.68 Acres |
| Location: | Covington, Louisiana |
| Type of Project: | $24 million multi-family development |
| Development Date: | Slated for Completion in late 2009 |
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Stone Creek Club and Spa
Type of Property:
53,000 foot Athletic Club.
Development Size:
23.50 Acres
Location:
Covington, Louisiana
Type of Project:
Upscale health club featuring, full service day spa, indoor basketball gym, top of the line fitness equipment, restaurant and bar, 25 meter lap pool, recreational pool, and 12 tennis courts.
Development Date:
Currently Under Construction
Bradford Row
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Type of Property:
Multifamily
Number of Units:
64
Location:
Mandeville, Louisiana
Type of Project:
Condo Conversion
Acquisition Date:
October 2002
Acquisition Highlights:
Purchased for $50,000 per unit
Holding Period:
4 years
Investment Highlights:
Units listed for $109,000 after upgrades
IRR:
40.40%
Hillcrest Apartments
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Type of Property:
Multifamily
Number of Units:
140
Location:
Mobile, Alabama
Type of Project:
Value-Add
Acquisition Date:
October 2003
Acquisition Highlights:
$2,000 per unit upgrade completed after purchase
Holding Period:
3 years
Investment Highlights:
Market sale resulted in 40% appreciation
IRR:
41.83%
Palmetto Apartments
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Type of Property:
Multifamily
Number of Units:
124
Location:
New Orleans, LA
Type of Project:
Tax Credit Rentals
Acquisition Date:
November 2004
Acquisition Highlights:
Purchased utilizing $3.14M in tax-exempt bonds, $1.8M in Low Income Housing Tax Credits, a $1M City of New Orleans Loan, and a $550,000 lead paint abatement grant
Holding Period:
Still operating. Plan to hold until 2021
InvestmentHighlights:
Currently 100% occupied and realizing maximum LIHTC rents.
Parkview
| Type of Property: | Multifamily |
| Number of Units: | 60 |
| Location: | Mandeville, Louisiana |
| Type of Project: | Apartment Rentals to a Condo Conversion |
| Acquisition Date: | August 2002 |
| Acquisition Highlights: | $10,000 per unit upgrades completed after purchase |
| Holding Period: | Currently 73% sold |
| Investment Highlights: | Anticipating $6.8M in gross proceeds after remaining units are sold |
| IRR: | 40-50% (estimated return after all units are sold) |
Plantation Apartment Homes
| Type of Property: | Multifamily |
| Number of Units: | 160 |
| Location: | Tunica, Mississippi |
| Type of Project: | Market Rate Rental |
| Development Date: | 2000-2001 |
| Development Highlights: | Developed at a cost of $40,625 per unit. |
| Holding Period: | Sold in 2006 |
| Investment Highlights: | Sold for $7.8 million. |
4141 Veterans Blvd
| Type of Property: | Commercial Office Space |
| Location: | Metairie, Louisiana |
| Square Footage: | 38,000 sq./ft., two building complex |
| Acquisition Date: | August 2007 |
| Acquisition Highlights: | Made extensive interior and exterior upgrades after acquisition |
| Investment Highlights: | Currently 100% leased at increased rent rates. |
