Utah Tribe Angels - Denver Hotel to MF Conversion Presentation скачать в хорошем качестве

Utah Tribe Angels - Denver Hotel to MF Conversion Presentation

A few weeks ago I had the opportunity to present live at Tribe Angels, where I broke down a 309 key hotel to 240 unit multifamily conversion in Denver, Colorado we are under contract for. This deal centers on a simple but powerful concept: cap rate arbitrage. Hotels typically trade at materially higher cap rates than stabilized multifamily. By acquiring a well located hotel at an 11.2 percent entry cap and converting it into workforce housing, the goal is to reposition the income stream into a lower multifamily cap rate environment, targeting a 6.5 percent exit cap. The value is created through operational execution and multiple expansion. Property Overview: 309 key Holiday Inn 3333 Quebec Street, Denver, CO Converted to 240 apartment units Approximately 23 million dollars all in cost Approximately 7 million dollars total equity required Business Plan Highlights: Combine rooms and add kitchens Renovate common areas and modernize amenities Lease up to stabilized occupancy Target refinance around Month 30 with projected return of roughly 100 percent of initial capital 10 year hold to capture Opportunity Zone benefits Projected Base Case Metrics: Projected value at exit approximately 40.6 million dollars Projected LP IRR approximately 23 percent Projected LP equity multiple approximately 3.5x Beyond the numbers, the thesis leans heavily on: Severe workforce housing shortages in Denver (150K units short) A construction pipeline that is contracting rapidly Adaptive reuse being materially cheaper and faster than ground up development An experienced execution team across hotel, construction, and multifamily In this presentation, I walk through: Why hotel to multifamily conversions create pricing inefficiencies How we found the deal and what makes it awesome Our Business Plan The underwriting assumptions including rents, OPEX, and financing Why Denver Opportunity Zone mechanics Sensitivity analysis and downside scenarios If you are interested in adaptive reuse, value add multifamily, or how private equity style underwriting differs from traditional brokerage thinking, this presentation goes deep. *This is not investment advice. Any offering would be made pursuant to a Private Placement Memorandum and available only to qualified investors. If you have questions about the structure, assumptions, or strategy, drop them in the comments.