American HealthCare Capital is pleased to offer an opportunity for a joint venture business partnership for the development of four boutique, concierge Memory Care Assisted Living Facilities in the most affluent communities of Southwest Florida. The private, state-of-the-art facilities will consist of two 36 unit, 40 bed facilities, one 40 unit, 44 bed facility, and one 44 unit, 48 bed facility. Four contractors have completed bids, and the General Contractor will be selected as soon as the construction drawings and documents are complete.
The 4 projects have a TPC cost of $36,490,000, of which 20% ($7,298,000) will be equity and 80% ($29,192,000) will be debt. The seller will contribute $900,000 towards equity, with the balance of $6,398,000 to be placed by the equity investor.
For the equity investor contribution, the seller offers 45% ownership interest as well as a 6% preferred return paid on the outstanding equity balance. Debt has been scheduled at a 6% interest rate with a 20 year amortization, with the construction period based on a 2-year, interest only mini-perm loan.
If you would like to learn more, please contact us for a Confidentiality Agreement that will allow us to share more detailed information with you.