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PROPERTIES

64 RENTAL HOMES

Affinity Properties – Student Housing Portfolio  (2013-2021)

  • Accumulated 64 single family homes over a 4-year period.
     

  • Became one of the largest owners of single-family student rental homes around Ball States Campus.
     

  • Over 250 tenants.
     

  • Consistent cash on cash returns year over year of 19% - 25% (annual cash flow).
     

  • Sold the 64 single family homes in smaller portfolios over a 2-year period making a 114% return on investment.

1339 Country Club Road.heic
1339 Country Club Road (2018 - 2024)

  • 17,390 SF single tenant industrial building
     

  • 14.5% return on cash (annual cash flow after debt service)
     

  • Triple Net (NNN) lease
     

  • Credit Tenant
     

  • Annual Rent escalations

7040 Guion Road.heic
7040-7050 Guion Road (2019-2021)

  • 26,000 SF multi-tenant industrial/flex building
     

  • 9,000 SF of vacancy when purchased 
     

  • Expanded existing two tenant by dividing up middle vacancy (9,000 SF) between the two tenants
     

  • Changed both tenants from gross leases to triple net (NNN) leases
     

  • Provided both tenants tenant improvement dollars to freshen up spaces and various upgrades
     

  • 21% return on cash (annual cash flow after debt service)
     

  • Sold the building at the end of 2021 making a 175% return on investment.

7098 Guion Road.heic
7098 Guion Road 

  • 14,080 SF spec warehouse building 
     

  • Leased for 10 years before substantial completion
     

  • Year 1 return on cash:  15%

2615 Endress Place, Greenwood, IN.HEIC
2615 Endress Place (2021 – present)

  • 101,350 SF single tenant industrial building
     

  • Building purchased well under replacement cost
     

  • 13% return on cash (annual cash flow after debt service)
     

  • Triple Net (NNN) lease
     

  • Credit tenant
     

  • Impending lease expiration

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4925 Decatur Blvd

  • 6.98 acres
     

  • Identified the value of the site and put under contract
     

  • Designed a rough building layout on the 6.98 
     

  • Flipped site to National industrial developer 
     

  • Return on investment:  225%

western-dr-affinity.JPG
933 Western Drive (2023)

  • 50,000 SF single tenant industrial building
     

  • Value add asset with short term lease
     

  • Current:  8.4% return on cash (annual cash flow after debt service)
     

  • Projected: 12% return on cash (annual cash flow after debt service)

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10890 Bennett Parkway (2024)
Under Construction

  • 30,000 SF three tenant industrial building
     

  • Rare Zionsville infill location
     

  • Construction to completed mid-December

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