Date post: | 27-Mar-2015 |
Category: |
Documents |
Upload: | aaliyah-brennan |
View: | 218 times |
Download: | 2 times |
Medical Dental BuildingSeattle, WA
Combining Historic and New Market
Tax Credits
Presented by George Petrie
Master Tenant Structure Diagram
John Goodman, Non-Member Manager
GRE Medical Dental Building LLC100% Member GRE MDB Mezzanine LLC
PROPERTY OWNER
GRE 509 Olive LLC100% - Tax Credit Investor (Non Managing
Member)0% -Non-Member Manager
Federal Tax Credits Lease Payments
BOA CDE
100% Credits, Profits & Losses and Cash Flow
Tax Credit Equity
Goodman & Petrie Controlled Developer
Commercial Tenant Subleases
Incentive Management Fee
Developer Fee
DevelopmentServices
Net Profits & Losses and Cash Flow
NEW Ventures
Credits, Profits & Losses and Cash Flow
Tax Credit Equity
Rents
GRE MDB Mezzanine LLC
90% - GRE MDB Investor, LLC -Managing Member10% - GRE 509 Olive LLC - Non Managing Member
GRE MDB Investor LLC75% Member, Manager- John Goodman
25% Member - George Petrie
Equity
Equity
10% Net Profits & Losses and Cash
90% Profits & Losses and Cash Flow
Sources and UsesTotal Percentage
Bank of America Permanent Loan 50,000,000 67%
TriSail Mezzanine Financing 4,310,000 6%
Federal HTC 6,260,000 8%
NMTC Equity 1,830,000 2%
Deferred Developer Fee & Equity 11,840,000 16%
Total Sources of Funds 74,240,000 100%
62,400,000
Land 13,500,000
Building 25,000,000
Hard Costs 21,290,000
Soft Costs and Financing Costs 14,450,000
Total Development Costs 74,240,000
Floor Corridors Before
Floor Corridors After
Floor Elevator Lobby Before
Floor Elevator Lobby After
Main Lobby Entrance Before
Main Lobby Entrance After
All Star Fitness Lobby Before
All Star Fitness Lobby After
All Star Fitness Facility
All Star Fitness Facility
Wintergarden Before
Wintergarden After
Wintergarden After