Offering Memorandum At Simi Valley VistaAssisted Living | Memory Care Investment Simi Valley | California | 93065 CONFIDENTIALITY AGREEMENT By accepting this Offering Memorandum, the party in possession representations or warranties, expressed or implied, as to the hereof agrees (i) to return it to Owner/Agent immediately upon accuracy or completeness of the Offering Memorandum or any of request and (ii) that this Offering Memorandum and its contents are the contents, and no legal commitment or obligations shall arise by of a confidential nature and will be held and treated in strict reason of the Offering Memorandum or the contents. Analysis and confidence. No portion of this Offering Memorandum may be verification of the information contained in the Offering copied or otherwise reproduced or disclosed to anyone without the Memorandum is solely the responsibility of the prospective prior written authorization of officer of Owner/Agent. Principals and purchaser. real estate brokers are prohibited from disseminating this information without the specific written consent of an officer of Owner reserves the right to reject any or all expressions of interest Owner/Agent. or offers to purchase this property, as well as the right to terminate discussions with any party at any time with our without notice. This Offering Memorandum is subject to errors, omissions, changes Owner shall have no legal commitment or obligation to any or withdrawal without notice and does not constitute a purchase reviewing this Offering Memorandum or making an offer recommendation or endorsement as to the value of the property as to purchase this property unless a written agreement for the a reference and are based on assumptions proposed by purchase of the property has been fully executed, delivered and Owner/Agent and their sources. Prospective purchasers should approved by Owner and any conditions to Owner’s obligations make their own projections and reach their own conclusion of thereunder have been satisfied or waived. value. The terms and conditions set forth above apply to this Offering Certain portions of this Offering Memorandum merely summarize Memorandum in its entirety. or outline property information and are in no way intended to be complete nor necessarily accurate descriptions. All prospective purchasers are to rely upon their own investigations and due diligence in the formation of their assessment of the condition of the property, including engineering and environmental inspections. All relevant documents are expected to be reviewed independently by any prospective purchaser. Neither Owner nor the Agent nor any of their respective officers, advisors, agents, or principals has made or will make any PROPERTY OVERVIEW Vista At Simi Valley | Simi Valley CA Purchase Price: $25,950,000 | 95-unit Assisted Living (105 Beds) Project Peak Commercial and Anvers Capital Partners is pleased County, California. The property will contain a unit mix of to offer for sale to qualified investors a Newly built 105 75 assisted and 20 memory care units (30 beds). Bed Senior Housing project located in the city of Simi Valley. Project Amenities include a Central Community Dining Room, game room, arts and craft room, library/computer The subject, identified as The Vista at Simi Valley is a center, media room, lounge area, Elevator Access, Laundry proposed 95-unit assisted living residence. The facilities, heath and wellness center, resident storage, mail improvements will be completed in 2020, will be in new room, outside patios/walking areas, gardening areas, and condition, and situated on a 1.39-acre site. The physical more. address is 1236 Erringer Road, Simi Valley, Ventura Investment Highlights Newly Built 2020 Construction. Property Construction will finish in the fall of 2020. Property to be delivered vacant, and ready for occupancy. Strong Location | High Barriers to Entry. Property is strategically located on Erringer Road in Simi Valley, on of the busiest streets in the City. High Quality Construction with various building and in-suite amenities. Brand new 2020 construction, to be delivered ready for occupancy. Class-A build with various amenities. Strong Physical Location amongst mostly single family homes Located on Erringer Road near Arcane St, the subject property is nestled in a pocket of Simi Valley consisting of mostly single family homes. Various Exit Strategies Ideal investment upon stabilization, either for continued cash flow, or disposition. Affluent Location With Favorable Demographics Average household of income of $120,420 within a 3 mile radius with a median home value of $652,620 and a population of 82,48 2. 3 PROEPRTY OVERVIEW Vista At Simi Valley | Simi Valley CA PROPERTY OVERVIEW Executive Summary 1234 Erringer Road, Simi Valley, Location: Ventura County California 93065 Property Name The Vista at Simi Valley Website: http://www.vistasimivalley.com Total SqFt : 51,236 Land Area: 1.39 AC Number of Buildings: 1 No. Of Stories 2 APN # 0284-201-31-0000 Year Built 2020 Total Units: 95 Total Beds: 105 Primary Unit of Measure Use Code: Senior Housing Unit of Revenue Units Beds Measure Units Property Identification Assisted Living 75 75 Units 75 The Vista at Simi Valley is a newly construction assisted living project. The imporvements will Memory Care 20 30 Beds 30 be completed in new conidtion, and situated on a 1.39-acre site. The physical addres is 1236 Total 95 105 105 Erringer Road, Simi Valley, Ventura County, Caifornia. The property will contain a unit mix of 75 assisted and 20 memory care units (30 beds). Primary Unit of Measure Unit of Revenue Units Beds Measure Units Assisted Living 76 73 Units 76 Memory Care 20 30 Beds 30 Total 96 103 106 5 PROPERTY DEMOGRAPHICS Vista At Simi Valley | Simi Valley CA Project Amenities Property and unit amenities for the subject property are summarized below. • Central Community Dining room • Laundry Facilities • Private • Trash room • Private Dining Room • Health and Wellness Center • Game room • Resident Storage • Arts & Craft room • Mail room • Library/Computer center • Outside Patios/Walking Areas • Beauty/Barber Shop • Gardening Areas • Media room • Multi-Purpose Room • Lounge Areas • Elevator Access to All Areas The following are the individual living unit amenities and features that are being offered at the subject: • 24-Hour Emergency Response System • Drapes/Window Treaments/Mini blinds • Telephone Outlets • Private Baths • Individual Heating/Colling Controls • Showers with a Seat and Grab Bars and/or Tub • Wall-to-Wall Carpeting/Vinyl Flooring Shower Combination • Kitchenettes (AL units) 5 INVESTMENT WRITE-UP Vista At Simi Valley | Simi Valley CA INVESTMENT WRITE-UP INVESTMENT OVERVIEW The seniors housing and care industry provides accommodation, as well as an Primary access to the neighborhood is provided the Ronald Reagan (118) array of services and program options to seniors. The demand for these Freeway. The Ronald Reagan Freeway is located within one mile north of the properties is primarily driven by the segment of the seniors population over subject. It is an east/west trending freeway connecting with Interstate 405 to the age of 75. The level of services and variety of options available to the the east and the Moorpark (23) Freeway to the west. Surface street access to seniors housing marketplace continues to evolve as the needs, preferences the neighborhood is provided by Los Angeles Avenue, Cochran Street, Erringer and demands of seniors and their families change. Road, Sycamore Drive and First Street. The types of properties that facilitate the delivery of accommodation and care The subject consists of a mixture of residential, commercial/retail, and services to seniors are typically divided into four primary categories: recreational uses. Directly to the north, south and east of the subject are independent living ("IL"), assisted living ("AL"), memory care ("MC") and long- religious oriented uses. Additional uses near the subject are primarily single- term care ("LTC"). Seniors housing and care properties also include continuing family in nature. Further north across Los Angeles Avenue are established care retirement communities ("CCRCs"), which typically offer all of the care single- family residential neighborhoods in the city of Simi Valley. The area levels noted above on a single campus. These property types are collectively also includes multi-family uses. Some commercial/retail is found to the referred to as “seniors housing.” northwest, north of Los Angeles Avenue. The subject property is located in Simi Valley, Ventura County, California. The following table summarizes the area hospitals and their respective Simi Valley is most influenced by trends impacting the Oxnard-Thousand location in relation to distance from the subject: Oaks-Ventura, CA Metropolitan Statistical Area (MSA). Hospital Summary The immediate neighborhood is supportive of the subject’s proposed use as Miles From seniors housing. Development is limited within the subject’s neighborhood. Hospital Summary Beds There are some healthcare providers in the neighborhood that are supportive Subject of the subject with alternate care levels, although primarily residential Simi Valley Hosp. & Health Care 2.17 143 housing which has either seniors or adult children that can act as a feeder. The neighborhood is considered to be in a stage of balance having a favorable Los Robles Hosp. & Medical Center 7.94 382 impact on the subject property. West Hills Hops. & Medical Center 8.56 228 7 PROPERTY DEMOGRAPHICS Vista At Simi Valley | Simi Valley CA Property Information Cap Rate Analysis Financing Assumptions Sale Price: $25,950,000 As- Is Purchase Price $25,950,000 ALL CASH ANALYSIS Number of Units: 95 As-Is Stabilized Cap Rate: 8.40% Number of Beds: 105 Cost Per Bed: $247,143 Total Price Indicators Approx. Age: 2020 Additional Cash Infusion: $1,911,056 Apx SqFt: 51,236 Total Price: $27,861,056 Price Per SqFt: $506 Price Per SqFt (TP): $543.78 Approx. Lot Size: 1.39 AC Price Per Bed (TP): $265,343 Cap Rate (TP): 7.82% Parking: Open Lot Scheduled Income Estimated Expenses No.