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3 Property Single-Tenant Nnn Childcare Portfolio  Offering Memorandum  Kidder Mathews 2 Portfolio Highlights

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3 Property Single-Tenant Nnn Childcare Portfolio  Offering Memorandum  Kidder Mathews 2 Portfolio Highlights BEAVERTON 3 PROPERTY SINGLE-TENANT HILLSBORO NNN CHILDCARE PORTFOLIO EXCLUSIVELY LISTED BY RYAN O'LEARY REBECCA LIDDELL, CCIM, MAI 503.221.2294 503.221.2279 [email protected] [email protected] NNNPDX.com GRESHAM 01 INVESTMENT SUMMARY 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 2 PORTFOLIO HIGHLIGHTS $3,741,000 PORTFOLIO PRICE 7.88% CAP RATE 3 # OF LOCATIONS $208 PRICE / SF 100% OCCUPANCY NNN LEASE TYPE INVESTMENT $294,965 TOTAL NOI SUMMARY 6,000 AVERAGE SIZE (SF) INDIVIDUAL PROPERTY PRICING THE OFFERING new ownership, under Kids The offering presents three net Incorporated Learning Centers, Cap Rate Price leased childcare properties in the and in 2015 expanded to include Portland metro area, providing the Gresham location. Beaverton Kids Incorporated 7.00% $1,520,000 investors the opportunity to acquire desirable West Coast investment All leases are NNN, with Landlord Hillsboro Care a Lot 7.00% $1,447,000 properties with a stable, Amazon- responsible for structure and roof. Gresham Kids Incorporated 8.00% $1,028,000 proof tenant. All three properties underwent very recent improvements, including Total Individual Pricing 7.38% $3,995,000 The properties were originally roof, parking lot, siding, awnings, constructed in the mid-1980’s as and more! Tenant pays all other Discounted Portfolio Pricing 7.88% $3,741,000 build-to-suit Kindercare childcare expenses directly, including locations. In 2011, the Beaverton property taxes, insurance, repairs/ and Hillsboro businesses underwent maintenance and utilities. 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 3 KIDS KIDS INCORPORATED INCORPORATED CARE A LOT CHILDCARE BEAVERTON GRESHAM PORTLAND HILLSBORO N 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 4 INVESTMENT HIGHLIGHTS FULLY LEASED three location childcare portfolio in the greater Portland, OR MSA area. The properties can be purchased as a portfolio or individually. RECENT CAPITAL IMPROVEMENT project completed to each property by Joseph Hughes Construction include new roofs, parking lots, siding, awnings, and more as needed. SERVICE-ORIENTED, E-COMMERCE PROOF tenant. FLEXIBILITY OF OWNERSHIP childcare properties are purchased by owner-operators approximately 50% of the time in the Portland metro market at market pricing, hedging investor’s risk. ALL THREE LOCATIONS currently at or near enrollment capacity and forecasted to stay full. The Hillsboro location consistantly has a waiting list. NNN LEASE STRUCTURE; landlord only responsible for roof and structure. Tenant pays all other charges directly. DEMOGRAPHICS reflect high population density for both owner-occupied an renter-occupied housing. 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 5 2019 CAPITAL IMPROVEMENTS ALL THREE PROPERTIES underwent over $200K in recent improvements including siding repair, new paint, newly paved parking area with restriping, and landscaping RE-SECURED fencing around play area CLEANED crack-filled and seal coated front lot and play area BEAVERTON $60,480 in recent capital improvements HILLSBORO $70,724 in recent capital improvements GRESHAM $73,181 in recent capital improvements GRESHAM LOCATION received a new roof within the last 5 years, as well as new interior flooring in 2019 NEW ROOFING to Hillsboro and Beaverton locations in 2019 Transferable Roof Warranties 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 6 02 ABOUT THE TENANT 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 7 Kids“ Incorporated Learning Centers understand that you only get one childhood, and we plan to make it the best childhood possible. ” ABOUT THE TENANT 3 95% Learning Center in Beaverton, LOCATIONS AVERAGE ENROLLMENT ABOUT THE TENANT Oregon. Due to the tremendous Kids Incorporated Learning Centers success in both locations, Ms. have been serving the community Thomas expanded her operations for nearly 10 years under the to include the Gresham location in philosophy of bringing the highest 2015. The business has a family- quality of care to parents at the most centric model. Mistee's two 351 NNN affordable costs. daughters are general managers, raising their own children in the Starting in 2011, Mistee Thomas program. Tenant financials will TENANT PAYS ALL TAXES, TOTAL CAPACITY LICENSED opened Care A Lot Childcare in be made available to qualified UTILITIES, INSURANCE, R&M Hillsboro, and Kids Incorporated investors. 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 8 03 PROPERTY OVERVIEWS 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 9 KIDS INCORPORATED - BEAVERTON 18425 NW Walker Rd Address Cap Rate 7.00% RENT SCHEDULE Beaverton, OR Annual Tenant Since 2011 Rent Thru Monthly Rent Annual Rent Increase Asking Price $1,520,000 Current Term Expiration Oct 31, 2027 Oct 2020 $8,864.67 $106,376.04 5.00% Price/SF $253 # Lease Years Remaining 8 Oct 2021 $9,307.90 $111,694.80 5.00% Net Operating Income $106,376 Net Leasable Area (NLA) 6,000 Oct 2022 $9,555.00 $114,660.00 2.65% Annual Rent/SF $17.73 Oct 2023 $9,805.00 $117,660.00 2.62% 5% / Year thru Oct 2021 Site Size 0.68 Acres Rent Escalations 3.14% annual average thru Oct 2024 $10,055.00 $120,660.00 2.55% remainder of term Year Built 1984 Parking Ratio 3.83 / 1,000 SF Oct 2025 $10,305.00 $123,660.00 2.49% Oct 2026 $10,550.00 $126,600.00 2.38% Oct 2027 $10,805.00 $129,660.00 2.42% Annual Average 3.14% 33,260 33,260 PER DAY NW 185TH AVE $106,376 NET OPERATING INCOME NW WALKER RD 5% / YR RENT ESCALATIONS THRU 2021 14,625 PER DAY 121 KIDS LICENSE CAPACITY 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 10 KIDS INCORPORATED - BEAVERTON 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 11 REGIONAL MAP JANTZEN BEACH SHOPPING COLUMBIA RIVER DEMOGRAPHICS CENTER 1 Mile 3 Miles 5 Miles Population 15,338 67,506 132,827 PORTLAND WILLAMETTE RIVER STREETS OF JAPANESE TANASBORNE Households 6,513 26,742 51,022 GARDEN Families 3,634 16,980 33,580 LLOYD CENTER MALL Average Household Size 2.32 2.51 2.59 E IL PORTLAND SUBJECT M 1 Owner Occupied Housing 2,624 13,447 28,435 PROPERTY Units BEAVERTON S E IL Renter Occupied Housing M 3,889 13,295 22,587 3 Units S E Median Age 32.6 32.4 33.1 IL M 5 WASHINGTON SQUARE MALL MILWAUKIE TIGARD LAKE OSWEGO 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 12 BEAVERTON NEIGHBORHOOD AERIAL 11 MI Portland TANASBOURNE TOWN CENTER THE STREETS OF TANASBOURNE NE STUCKI AVE NE CORNELL RD TANASBOURNE VILLAGE NE 185TH AVE SUNSET SQUARE SUBJECT PROPERTY NE AMBERGLEN AVE NE WALKER RD 30,152 Daily 15,156 Daily N 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 13 CARE A LOT CHILDCARE - HILLSBORO 1771 SE Minter Bridge Rd RENT SCHEDULE Address Cap Rate 7.00% Hillsboro, OR Annual Tenant Since 2011 Rent Thru Monthly Rent Annual Rent Increase Asking Price $1,447,000 Current Term Expiration Jan 31, 2027 Jan 2020 $8,865.78 $106,389.36 5.00% Price/SF $241 Jan 2021 $9,309.07 $111,708.84 5.00% $106,389 increasing to # Lease Years Remaining 7+ Net Operating Income $111,708 in Feb 2020 Net Leasable Area (NLA) 6,000 Jan 2022 $9,555.00 $114,660.00 2.64% Annual Rent/SF $17.73 Site Size 0.80 Acres Jan 2023 $9,805.00 $117,660.00 2.62% 5%/Year thru Jan 2021 Rent Escalations 3.14% annual average thru Year Built 1984 Jan 2024 $10,055.00 $120,660.00 2.55% remainder of term Parking Ratio 3.67 / 1,000 SF Jan 2025 $10,305.00 $123,660.00 2.49% Jan 2026 $10,550.00 $126,600.00 2.38% AT CAPACITY WITH WAITING LIST. Jan 2027 $10,805.00 $129,660.00 2.42% Annual Average 3.14% 29,300 SE TUALATIN VALLEY HWY PER DAY $106,389 NET OPERATING INCOME 10,405 10,405 PER DAY 5% / YR RENT ESCALATIONS THRU 2021 116 KIDS LICENSE CAPACITY 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 14 SE MINTER BRIDGE RD CARE A LOT CHILDCARE - HILLSBORO 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 15 REGIONAL MAP JANTZEN BEACH SHOPPING HILLSBORO CENTER DEMOGRAPHICS AIRPORT 1 Mile 3 Miles 5 Miles ES PORTLAND Population 15,338 67,506 132,827 IL WILLAMETTE RIVER M STREETS OF JAPANESE 5 TANASBORNE GARDEN Households 6,513 26,742 51,022 ES IL M 3 Families 3,634 16,980 33,580 EHILLSBORO IL M PORTLAND Average Household Size 2.32 2.51 2.59 1 BEAVERTON Owner Occupied Housing Units 2,624 13,447 28,435 SUBJECT PROPERTY Renter Occupied Housing Units 3,889 13,295 22,587 Median Age 32.6 32.4 33.1 WASHINGTON SQUARE MALL LAKE OSWEGO 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 16 HILLSBORO NEIGHBORHOOD AERIAL 20 MI Portland SE 32ND AVE HILLSBORO TOWN CENTER SE CYPRESS ST SE TUALATIN VALLEY HWY SUBJECT PROPERTY SUNSET ESPLANADE SE MINTER BRIDGE RD 28,559 Daily 10,304 N Daily 3 PROPERTY SINGLE-TENANT NNN CHILDCARE PORTFOLIO OFFERING MEMORANDUM KIDDER MATHEWS 17 KIDS INCORPORATED - GRESHAM 840 NE 181st Ave RENT SCHEDULE Address Cap Rate 8.00% Gresham, OR Annual Tenant Since 2015 Rent Thru Monthly Rent Annual Rent Increase Asking Price $1,028,000 Current Term Expiration Feb 15, 2023 Feb 2020 $6,850.00 $82,200.00 4.50% Price/SF $171 Feb 2021 $7,160.00 $85,920.00 4.53% $82,200 # Lease Years Remaining 3+ Net Operating Income Increasing to $85,920 Feb 2022 $7,480.00 $89,760.00 4.47% in Feb 2020 Net Leasable Area (NLA) 6,000
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