Ameritus Real Estate Fund Webinar

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  1. 1. OFFERING MEMORANDUMby Ameritus Real Estate Fund Chicago, IL An Office Property Fund acquisitions by Ameritus LLC www.askameritus.com
  2. 2. DISCLAIMER Ameritus Real Estate Fund The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from PeerRealty, LLC and should not be made available to any other person or entity without the written consent of PeerRealty, LLC. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. PeerRealty, LLC has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenants plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, PeerRealty, LLC has not verified, and will not verify, any of the information contained herein, nor has PeerRealty, LLC conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
  3. 3. This information is proprietary and strictly confidential, and is intended to be reviewed only by the party receiving it from Peer Realty, LLC. It should not be made available to any other person or entity without the written consent of Peer Realty, LLC. This presentation has been prepared to provide summary information to prospective investors, and the information contained herein is not a substitute for a thorough due diligence investigation. Ameritus Real Estate Fund 8 PROPERTIES ACQUIRED In Chicagos River North, West Loop and North Shore market. 14-16% PROJECTED IRR $10-$50M TARGETED COST of each additional property to be acquired by Fund.
  4. 4. This information is proprietary and strictly confidential, and is intended to be reviewed only by the party receiving it from Peer Realty, LLC. It should not be made available to any other person or entity without the written consent of Peer Realty, LLC. This presentation has been prepared to provide summary information to prospective investors, and the information contained herein is not a substitute for a thorough due diligence investigation. Ameritus Real Estate Fund This is an opportunity to invest in a sponsor co-invest fund that currently holds over a half-dozen office properties in Chicagos River North, West Loop and North Shore markets. The fund is managed by a highly sophisticated institutional group, and offers significant value-add upside. Executive summary
  5. 5. This information is proprietary and strictly confidential, and is intended to be reviewed only by the party receiving it from Peer Realty, LLC. It should not be made available to any other person or entity without the written consent of Peer Realty, LLC. This presentation has been prepared to provide summary information to prospective investors, and the information contained herein is not a substitute for a thorough due diligence investigation. Ameritus Real Estate Fund Ameritus, LLC (Ameritus or the Firm) is seeking equity commitments from investors to capitalize Ameritus Real Estate Fund, LP (the Fund). The Fund offers investors the opportunity to co-invest through the Fund with institutional and other capital partners (the Joint Venture Partners). The Fund intends to co-invest with Joint Venture Partners to make investments in office, industrial, market-rate apartment, and retail properties located in greater Chicago and Southeast Wisconsin. The Fund intends to employ a value add strategy of investing in cash-flowing assets that are not stabilized and which offer significant upside through re-tenanting, physical enhancements, repositioning in the market, and/or financial restructuring. Targeted assets are expected to include: Urban office buildings with an opportunity to provide creative office space with the addition of amenities and improvement of the tenant environment. Suburban office buildings that can be purchased at a discount to replacement cost and repositioned to have a competitive advantage over similar properties in their submarket. Urban and transit-oriented retail located in densely populated locations which may require additional leasing or renovation. Urban industrial assets in submarkets with limited supply or are positioned to be converted to a higher and better use due to neighborhood gentrification. Suburban industrial assets, located in established markets with limited new supply available and require capital to re-tenant, expand, or renovate. On a limited and opportunistic basis, for-lease, market rate, multi-family assets which require capital to renovate, complete, or convert and are located in densely populated neighborhoods. Investment Summary
  6. 6. This information is proprietary and strictly confidential, and is intended to be reviewed only by the party receiving it from Peer Realty, LLC. It should not be made available to any other person or entity without the written consent of Peer Realty, LLC. This presentation has been prepared to provide summary information to prospective investors, and the information contained herein is not a substitute for a thorough due diligence investigation. Ameritus Real Estate Fund As of July 31st, 2015 the fund has acquired the following assets: 213 W. Institute Place -a 150,000 SF creative loft office building in Chicagos River North Sub- Market 549 W. Randolph - a 100,000 SF creative loft office building in Chicago's West Loop Sub- Market Chicago Avenue Parking - bolt-on acquisition of a 30-car parking lot adjacent to 213 W. Institute Place North Shore Office Portfolio - a 340,000 SF portfolio of six single story office and flex industrial assets along Chicagos North Shore 2201-2231 Lakeside Dr., Bannockburn, IL 666 Dundee Rd., Bldgs. 300, 700, 1100, 1300, 1500-1900, Northbrook, IL 778 Frontage Rd., Northfield, IL 1221-1311 Rand Rd., Des Plaines, IL 3330 Old Glenview Rd., Wilmette, IL 5225 Old Orchard Rd., Skokie, IL Property Summary
  7. 7. This information is proprietary and strictly confidential, and is intended to be reviewed only by the party receiving it from Peer Realty, LLC. It should not be made available to any other person or entity without the written consent of Peer Realty, LLC. This presentation has been prepared to provide summary information to prospective investors, and the information contained herein is not a substitute for a thorough due diligence investigation. Ameritus Real Estate Fund Ameritus is a Chicago based investment and management firm that has focused on commercial real estate services for third parties and its own account. Founded in 1999, the Firm is a full service real estate investor and operator with experience in leasing, asset and property management, acquisitions, construction management, and capital markets. The principals of Ameritus are Jeb Scherb, Bert Scherb, Benjamin Nummy, and Bob Budington (the Principals), who have significant institutional real estate experience, having held key positions at firms such as Grubb & Ellis, Morgan Stanley, and Jones Lang LaSalle. Because of its in-house operational capabilities and the experience of its Principals, Ameritus believes that the Fund is positioned as an ideal joint venture partner to institutional investment partners and private equity firms seeking to invest in commercial real estate in the Midwest. Sponsor Summary
  8. 8. This information is proprietary and strictly confidential, and is intended to be reviewed only by the party receiving it from Peer Realty, LLC. It should not be made available to any other person or entity without the written consent of Peer Realty, LLC. This presentation has been prepared to provide summary information to prospective investors, and the information contained herein is not a substitute for a thorough due diligence investigation. Ameritus Real Estate Fund All four Principals have deep relationships in and knowledge of the greater Chicago and Southeast Wisconsin markets. Historically, Ameritus has focused on development and redevelopment of projects in the Chicago central business district and the Chicago suburbs. The Firms expertise in repositioning complex real estate assets has been recognized by Building Owners and Managers Association (BOMA), which awarded Ameritus a TOBY Award for its management and renovation of 211 West Wacker Drive in 2007. Further, the Firms sustainability efforts led the building to obtain Silver LEED status, at the time the oldest building in the State of Illinois to achieve the designation. Sponsor Summary
  9. 9. This information is proprietary and strictly confidential, and is intended to be reviewed only by the party receiving it from Peer Realty, LLC. It should not be made available to any other person or entity without the written consent of Peer Realty, LLC. This presentation has been prepared to provide summary information to prospective investors, and the information contained herein is not a substitute for a thorough due diligence investigation. Ameritus Real Estate Fund A strategic focus of the Fund has been to acquire Class B loft office space and upgrade it into Class A creative office space, as demonstrated by the Funds acquisition of 213 W. Institute Place. This strategy is driven by the strong demand of technology users to locate into unique and collaborative urban office environments. More traditional businesses are now joining these high growth users in following this trend. As such, the River North submarket in Chicago continues to lead market occupancy at 91%. Class A buildings in this submarket have less than 3.5% vacancy according to CBRE. The creation of a technology corridor in the West Loop has also prompted CBRE to recognize the area as a new submarket, as older manufacturing buildings are being converted to creative office space. The North Shore properties are extremely well located at various interchanges along the Edens Expressway (I-94/Rt. 41) approximately 25 miles north of Chicago, IL. This stretch of roadway is the closest highway system to the Lake Michigan shoreline in the area and services affluent and densely populated suburbs such as Wilmette, Winnetka, Highland Park, Deerfield, and Lake Forest. In a 7-mile radius of the Northbrook Office Court, there is a population of 325,769 with a median household income in excess of $87,500. The population within a 10-mile radius is 746,535. Market Summary
  10. 10. This information is proprietary and strictly confidential, and is intended to be reviewed only by the party receiving it from Peer Realty, LLC. It should not be made available to any other person or entity without the written consent of Peer Realty, LLC. This presentation has been prepared to provide summary information to prospective investors, and the information contained herein is not a substitute for a thorough due diligence investigation. Ameritus Real Estate Fund PeerRealty.com FOR MORE INFORMATION, VISIT or email us at invest@PeerRealty.com