ADD EXHB 11 ea182147ex1a-15i_multi.htm RESULTS OF PRIOR PROGRAMS

Exhibit 1A-15.i

 

Table I. Experience Raising Funds

 

Offerings Closed Within the Last Three Years

 

   The Jax 2022
Project One		   Aviator 2022
Project Two		   Chronos
Project Three		 
Date Offering Closed   Apr-22    Mar-22    Feb-20 
Duration of Offering in Months   2    2    2 
Months to Invest 90% of Amount Raised               
Total Equity Amount  $17,550,000   $11,775,000   $53,461,435 
Amount Offered (and Raised)  $534,500   $1,525,000   $600,000 
Deductions               
Selling commissions retained by affiliates  $0   $0   $0 
Organizational and Offering Expenses  $10,000   $80,000   $145,000 
Reserves  $0   $0   $0 
Amount Available for Investment  $524,500   $1,445,000   $455,000 
Acquisition Cost               
Purchase Price of Real Estate  $53,452,000   $48,000,000   $149,650,000 
Cost of Renovations and Improvements  $3,249,157   $465,000   $2,178,000 
Acqusition Fees  $534,520   $700,000   $1,496,500 
Debt  $40,550,000   $33,935,000   $103,338,000 
Percent Leverage   76%   70%   69%

 

 

 

 

Table II. Compensation to Sponsor During Last Three Years

 

   The Jax 2022
Project One		   Aviator 2022
Project Two		   Chronos
Project Three		 
Date Offering Closed   Apr-22    Mar-22    Jan-20 
Amount Raised  $17,550,000   $11,775,000   $53,461,435 
Reg D Offering Amount  $534,500   $1,525,000   $600,000 
Fees Paid to Sponsor from Offering Proceeds               
Acquisition Fees  $534,500   $700,000   $1,496,500 
Real Estate Commissions  $0   $0   $0 
Reimbursement of Expenses  $37,880   $80,000   $145,000 
Other               
Fees Paid to Sponsor from Operations               
Property Management Fees  $81,845   $96,636   $818,162 
Partnership Management Fees  $43,308   $21,396   $398,730 
Distributions of "Promoted Interest"  $0   $0   $0 
Reimbursement of Expenses  $0   $0   $0 
Leasing Commissions  $0   $0   $0 
Other               
Gross Sales and Refinancings of Property  $0   $0   $94,009,119 
Fees Paid to Sponsor from Sales and Refinancings               
Commissions  $0   $0   $0 
Disposition Fees  $0   $0   $0 
Distributions of "Promoted Interest"  $0   $0   $9,187,401 
Reimbursement of Expenses  $0   $0   $20,500 

 

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Table III. Operating Results

 

Include information only for programs the offerings of which closed in the most recent five years.

 

Operating Results for 2022  LACH
Project Two		   Jax 2019
Project Three		   Newport
Project Four		   Quinn
Project Five		 
Gross Operating Income  $2,083,940   $1,312,027   $4,085,634   $3,878,658 
Tax Deductions  $2,046,655   $1,889,803   $3,944,960   $9,410,207 
Taxable (Loss) Income from operations  $37,285   $(577,776)  $140,674   $(5,531,549)
Net Cash From Operations  $467,240   $263,309   $267,280   $(2,079,921)
Gains from Sales of Property   N/A   $11,436,386    N/A   $1,603,243 
Net Cash From Property Sales   N/A   $18,628,365    N/A   $9,025,424 
Net Cash from Refinancing of Property   N/A    N/A    N/A    N/A 
Distributions to Investors Per $10,000 Invested                    
Return of Capital  $0   $4,219   $0   $0 
From Operations  $516   $0   $278   $0 
From Sales   N/A   $0    N/A   $0 
From Refinancings   N/A    N/A    N/A    N/A 

 

Operating Results for 2022  Water Ridge
Project Six		   Jax 2022
Project Seven		 
Gross Operating Income  $6,315,750   $3,360,984 
Tax Deductions  $7,050,477   $3,985,159 
Taxable (Loss) Income from operations  $(734,727)  $(624,175)
Net Cash From Operations  $661,167   $(250,644)
Gains from Sales of Property   N/A    N/A 
Net Cash From Property Sales   N/A    N/A 
Net Cash from Refinancing of Property   N/A    N/A 
Distributions to Investors Per $10,000 Invested          
Return of Capital  $0   $0 
From Operations  $225   $224 
From Sales   N/A    N/A 
From Refinancings   N/A    N/A 

 

Operating Results for 2021  Chronos
Project One		   LACH
Project Two		   Jax 2019
Project Three		   Newport
Project Four		 
Gross Operating Income  $14,689,430   $1,944,258   $2,156,820   $3,900,689 
Tax Deductions  $18,166,550   $6,481,820   $5,826,346   $10,643,569 
Taxable (Loss) Income from operations  $(3,477,120)  $(4,537,562)  $(3,669,526)  $(6,742,880)
Net Cash From Operations  $5,459,254   $168,019   $(297,363)  $(13,952)
Gains from Sales of Property  $(4,661,425)   N/A    N/A    N/A 
Net Cash From Property Sales  $39,703,475    N/A    N/A    N/A 
Net Cash from Refinancing of Property   N/A    N/A    N/A    N/A 
Distributions to Investors Per $10,000 Invested                    
Return of Capital  $10,000   $0   $0   $0 
From Operations  $1,008   $592   $87   $166 
From Sales  $5,377    N/A    N/A    N/A 
From Refinancings   N/A    N/A    N/A    N/A 

 

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  Quinn   Water Ridge 
Operating Results for 2021  Project Five   Project Six 
Gross Operating Income  $5,985,396   $5,736,510 
Tax Deductions  $7,727,868   $6,626,737 
Taxable (Loss) Income from operations  $(1,742,472)  $(890,227)
Net Cash From Operations  $(1,695,961)  $(511,423)
Gains from Sales of Property   N/A    N/A 
Net Cash From Property Sales   N/A    N/A 
Net Cash from Refinancing of Property  $842,144    N/A 
Distributions to Investors Per $10,000 Invested          
Return of Capital  $0   $0 
From Operations  $0   $290 
From Sales   N/A    N/A 
From Refinancings   0    N/A 

 

Operating Results for 2020  Chronos
Project One		   LACH
Project Two		   Jax 2019
Project Three		   Newport
Project Four		 
Gross Operating Income  $12,727,754   $1,840,582   $3,948,837   $1,943,538 
Tax Deductions  $13,844,224   $1,934,526   $5,366,339   $1,509,072 
Taxable (Loss) Income from operations  $(1,116,470)  $(93,944)  $(1,417,502)  $434,466 
Net Cash From Operations  $2,828,000   $337,091   $(200,406)  $256,883 
Gains from Sales of Property   N/A    N/A    N/A    NA 
Net Cash From Property Sales   N/A    N/A    N/A    NA 
Net Cash from Refinancing of Property   N/A    N/A    N/A   $2,980,500 
Distributions to Investors Per $10,000 Invested                    
Return of Capital  $0   $0   $0   $3,131 
From Operations  $661   $123   $298   $962 
From Sales   N/A    N/A    N/A    NA 
From Refinancings   N/A    N/A    N/A   $5,233 

 

  Quinn   Water Ridge 
Operating Results for 2020  Project Five   Project Six 
Gross Operating Income  $3,887,198   $5,646,660 
Tax Deductions  $8,237,363   $5,925,750 
Taxable (Loss) Income from operations  $(4,350,165)  $(279,090)
Net Cash From Operations  $(3,014,027)  $889,271 
Gains from Sales of Property   N/A    N/A 
Net Cash From Property Sales   N/A    N/A 
Net Cash from Refinancing of Property  $1,986,210   $10,646,608 
Distributions to Investors Per $10,000 Invested          
Return of Capital  $0   $10,000 
From Operations  $400   $200 
From Sales   N/A    N/A 
From Refinancings  $0   $0 

 

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Operating Results for 2019  LACH
Project Two		   Jax 2019
Project Three		   Newport
Project Four		   Quinn
Project Five		 
Gross Operating Income  $353,439   $441,668   $3,564,834   $3,747,274 
Tax Deductions  $323,202   $699,158   $2,957,198   $8,014,449 
Taxable (Loss) Income from operations  $30,237   $(257,490)  $607,636   $(4,267,175)
Net Cash From Operations  $127,393   $(100,077)  $842,912   $(416,931)
Gains from Sales of Property   N/A    N/A    N/A    N/A 
Net Cash From Property Sales   N/A    N/A    N/A    N/A 
Net Cash from Refinancing of Property   N/A    N/A    N/A   $41,666,855 
Distributions to Investors Per $10,000 Invested                    
Return of Capital  $0   $0   $0   $0 
From Operations  $61   $0   $1,153   $0 
From Sales   N/A    N/A    N/A    N/A 
From Refinancings   N/A    N/A    N/A    N/A 

 

  Water Ridge 
Operating Results for 2019  Project Six 
Gross Operating Income  $5,035,180 
Tax Deductions  $5,576,012 
Taxable (Loss) Income from operations  $(540,832)
Net Cash From Operations  $410,318 
Gains from Sales of Property   N/A 
Net Cash From Property Sales   N/A 
Net Cash from Refinancing of Property   N/A 
Distributions to Investors Per $10,000 Invested     
Return of Capital  $0 
From Operations  $733 
From Sales   N/A 
From Refinancings   N/A 

 

Operating Results for 2018  Newport
Project Four		   Quinn
Project Five		   Water Ridge
Project Six		 
Gross Operating Income  $3,414,442   $1,308,617   $4,851,715 
Tax Deductions  $3,135,202   $2,865,674   $7,179,683 
Taxable (Loss) Income from operations  $279,240   $(1,557,057)  $(2,327,968)
Net Cash From Operations  $424,701    N/A   $(1,843,654)
Gains from Sales of Property   N/A    N/A    N/A 
Net Cash From Property Sales   N/A    N/A    N/A 
Net Cash from Refinancing of Property   N/A    N/A    N/A 
Distributions to Investors Per $10,000 Invested               
Return of Capital  $0   $0   $0 
From Operations  $0   $0   $0 
From Sales   N/A    N/A    N/A 
From Refinancings   N/A    N/A    N/A 

 

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Table IV. Completed Programs

 

Programs that Have Completed Operations Within the Last Five Years

 

   Chronos Porfolio
Project One		   5 Fifty
Project Two		   Highland Cross
Project Three		   Cypress Ridge
Project Four		   Midcrown
Project Five		   Club Creek
Project Six		 
Date Offering Closed   Jan-20    Sep-18    Apr-17    Oct-16    Oct-14    Nov-15 
Amount Offered and Raised  $53,461,000   $4,150,000   $5,050,000   $5,650,000   $2,505,000   $3,700,000 
Reg D Offering Amount  $600,000   $830,000        $565,000   $1,950,000   $2,712,000 
Cost of Real Estate Purchased  $149,650,000   $15,950,000   $11,700,000   $13,050,000   $6,702,000   $11,000,000 
Cost of Renovations  $2,178,000   $1,280,000   $1,936,200   $1,484,700   $2,223,800   $1,050,000 
Date Property Was Sold   Nov-21    Jul-21    Jul-21    Jul-21    Sep-19    Jul-18 
Net Proceeds of Sale  $94,009,119   $7,931,118   $2,017,347   $7,749,040   $4,193,130   $7,111,000 
Total Distributions to Investors Per $10,000 Invested  $16,800   $18,900   $10,500   $16,900   $15,000   $17,500 
IRR To Investors Over Life of Program   37%   24%   1%   13%   10%   25%

 

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Table V. Sales of Property Within Last Three Years

 

   Chronos Porfolio
Project One		  5 Fifty
Project Two		  411 Highland Cross
Project Three		  Cypress Ridge
Project Four
Date Property Purchased   Jan-20    Sep-18    Apr-17    Oct-16 
Date Property Sold   Nov-21    Jul-21    Jul-21    Jul-21 
Sold to Related Party   No    No    No    No 
Total Cost of Property, Including Improvements  $159,135,626   $17,230,000   $14,750,000   $5,650,000 
Gross Selling Price of Property  $202,446,927   $22,750,000   $17,300,000   $18,000,000 
Net Proceeds After Costs  $94,009,119   $7,931,118   $2,017,347   $7,749,040 
Original Mortgage Financing  $103,338,000   $14,040,000   $9,700,000   $9,787,500 
Mortgage Balance At Time of Sale  $100,512,236   $14,040,000   $9,555,005   $8,954,210 
Mortgage Taken Back by Seller   N/A    N/A    N/A    N/A 

 

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Table VI. Purchases of Property Within Last Three Years

  

   Chronos Porfolio
Project One
Date Property Purchased   Feb-20 
Type of Property   Garden Style 
Gross Leaseable Square Feet   992,692 
Total Cost of Property, Including Improvements  $159,135,626 
Mortgage Financing  $103,338,000 

 

 

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