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Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
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Investor Presentation

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  • 1. Investment Overview Athena Real Estate Fund I Managed by Pantheon Capital, LLC Contact Management For Further Information, And Full Offering Memorandum Dan Farris (949) 903-6419 [email_address] Arthur Havener, Jr (314) 852-6999 [email_address]
  • 2. Team
    • Dan Farris - Founder, Principal
      • Vast Acquisition/Underwriting Experience
        • Lead acquisitions team in over $125 million of investment in the last 2 years
        • Underwritten over $1.5 billion in corporate property assets
      • 10 years of Real Estate Valuation Experience
    • Arthur Havener Jr. - Founder, Principal
      • Over 20 Years Real Estate Valuation Experience
      • Board Of Director Positions
        • Boardwalk REIT (BEI-TSX) - Largest Canadian Apartment Owner
        • MDC North American Real Estate Fund - Private Equity Investment Fund
      • Real Estate Consultant to Public REITs and Institutional Investors
      • Private Equity Placement Agent
    Confidential
  • 3. Introduction
    • Summary Investment Offering
      • Student Housing Acquisition, Re-development and New Development In Midwest “College Towns”
      • All Locations Within ¼ Mile Of College Campus
      • Midwestern Student Housing Market Ripe For Consolidation / Redevelopment
      • 50+ Bed Properties/Portfolios, Gain Economies of Scale
      • All new Construction To Be LEED Certified (“Green Buildings”)
    • Seeking $10 - $25 Million From Equity Partners
    Confidential
  • 4. Investor Returns
    • Seeking $10 - $25 Million Equity Investment
      • 5 Year Lock Up Period, Limited Redemption
      • Investor Hurdle Return of 10% Annualized
      • Potential Ongoing Property Ownership and Cash Flow
    • Minimal Management Fees
      • Upfront, Ongoing Fees Well Below Industry
      • Management Returns Aligned With Investor Returns
    Confidential
  • 5. Fee Structure vs Industry Confidential
  • 6. Market Attributes
    • Midwestern College Towns
      • Under 200,000 population
      • Over 15,000 full time students
      • On Campus Housing For Less Than 40% of Students
    • Reasoning For Target Markets
      • Lack of Investment Focus
      • Highly Fragmented Ownership
      • Less Cumbersome Redevelopment Process
      • Imbedded But Overlooked Renter Base
    Confidential
  • 7. Demographic Trends
    • Baby Boom Echo to peak in 2015
    • College enrollment of high school graduates at all time high
      • 1990 = 59.9%
      • 2008 = 68.3%
    • Full time enrollment of Freshman at all time high
      • 1995 = 76%
      • 2008 = 82%
    Confidential
  • 8. Market List Confidential
  • 9. Properties
    • Location, Location, Location
      • ¼ Mile From Campuses
      • Functional Obsolescent
      • Under Managed
    • Redevelopment, Turnaround
      • LEED Certified Construction, When Applicable
      • High Tech, Modern Amenities
      • Hands-On Management Approach
    Confidential
  • 10. Property Operation
    • Student housing leased per student, not unit
    • Parents guarantee rent payments, damage costs
    • Higher yields/rental rates with leased beds
    • Quarterly unit inspections, lower capex, decrease legal issues
    Confidential
    • 2 Bedroom Unit (Leased By Unit)
    • 800 Square Feet
    • 1 Lease ($850 Per Month)
      • $425 Per Student
      • $1.06 Per Square Foot
    • No individual renter legal recourse
    • 2 Bedroom Unit (Leased By Bed)
    • 800 Square Feet
    • 2 Leases ($1,000 Per Month)
      • $500 Per Student
      • $1.25 Per Square Foot
    • Legal contract with all individuals
  • 11. Competition
    • Local or Absentee Owners
      • Older, Outdated Product
      • Lack of Sophistication
      • No On-Site Management
    • Institutional/Large Scale Owners
      • Less Focused On Midwest
      • Rawland Development Miles From Campus
      • Not LEED Certified
    Confidential
  • 12. Why Invest In Athena
    • Alternative Investment Return Expectations Decreasing
    • US Treasury Money Supply Rapidly Increasing, Inflation Risk Increasing
    • Equity Market Volatility At 30 Year Highs
    • Stable Cash Flows, Fundamentally Sound Renter Base
    • Real Estate Cycle Bottoming, Favorable Pricing for Equity Buyers
    • Own A Piece Of Your University
    Confidential
  • 13. Timeline
    • Targeted Fund Closing
      • March 31, 2009
    • Property Acquisition / Redevelopment
      • Q1 2009 – 2011
    • Property Operations / Cash Flow
      • 2010+
    • Investor Payout
      • 2013
    Confidential

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