Seasons at Turlock/Boise
Seasons at Turlock Boise Portfolio Consolidated Returns California and Idaho Seven (7) Year Results for Years 2011 Through 2017 2011 2012 2013 2014 2015 2016 2017* Occupancy 89.30% 92.20% 93.70% 93.60% 90.70% 92.10% 92.80% Revenues 7,250,831 7,445,264 7,565,983 7,792,242 7,718,595 8,277,751 8,752,788 Operating Expenses 4,795,126 5,198,182 5,481,489 5,547,126 5,770,873 6,128,715 6,419,991 Net Operating Income 2,455,705 2,247,082 2,084,494 2,245,116 1,947,722 2,149,036 2,342,797 Debt Service 1,453,220 1,450,220 1,453,220 1,125,445 1,048,594 1,048,594 1,010,391 Cash Flow 1,002,485 796,862 631,274 1,119,671 899,128 1,100,442 1,332,406 Equity Invested 1,464,332 1,464,332 1,464,332 1,464,332 1,464,332 1,464,332 1,464,332 Cash on Cash 68.46% 54.42% 43.11% 76.46% 61.40% 75.15% 90.99% *Annualized easons at Turlock/Boise is a two-property/two-city portfolio of process and restructure the defaulted mortgage. Kodiak S Assisted Living Memory Care projects in Turlock, California and simultaneously co-invested and raised an additional $1.5MM of Boise, Idaho. The acquisition of the Seasons portfolio was syndicated new equity to satisfy delinquent mortgage payments, legal fees to TIC investors by Evergreen Realty Group on January 23, 2007.
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