- April 22, 2020
- Posted by: Waldon
- Categories:
| Company Name | Flats at East Bank Apartments |
|---|---|
| Contact Name | Camiren Dalrymple |
| Contact Email | Email hidden; Javascript is required. |
| Contact Phone | (574) 485-3371 |
| Opportunity Name | Cleveland 241 Units Class A |
| Location of Business | https://g.page/FlatsAtEastBankApts?share |
| When was the business started? | 2015 |
| What is the business most known for? | Lcoaation |
| Who is/are owner/owners? | Privately Held |
| Why sell the business? | *The property benefits from a real estate tax abatement on the improvement values for the apartments and garage through 2030. Currently, taxes are only paid on the commercial space and the land. In 2031, the current abatement ends and a TIF program commences. City and county tax amounts are refunded to the property above payment of the TIF bond’s debt service. This tax program expires in 2070. |
| Are you looking to recapitalize the business by selling a majority stake to aggressively take the business to next level? | No |
| Who will remain on the ownership level? | N/A |
| Is the owner(s) planning to stay around? If so, what is their thinking? | No |
| What is the maturity level of the business? | Please choose... |
| EBITDA or Profit for same period | $4.8M Annually |
| Trailing 12 Month Revenue | $7.7M Annually |
| Trailing 12 Month EBITA | $4.8M Annually |
| Any significant debt on the business? | No |
| Why did the business start? | See Attached |
| Why did the business start? | See Attached |
| How did business get to where it is at? | See Attached |
| Aggregations or Organic growth? | See Attached |
| Any tailwinds or headwinds facing business/sector? | HUGE corporate building in development and should finish in 2024 |
| Sector insights from owner and what the opportunity going forward with new owner might look like? | See Attached |
| What is the unique story of business -- how is it different then their competition –what makes them better/worse? | See Attached |
| Provide any additional notes, information or data that supports this opportunity | URGENT Cleveland - CALL FOR OFFERS DUE ASAP Cleveland Offers Due ASAP This deal is a dream come true. https://drive.google.com/drive/folders/1VPAeicG_6Ll9GRmv72BR4yd6BdjTPG71?usp=sharing (In case the above link isn’t working) https://drive.google.com/drive/folders/12HHq026X0_feJdWfoXqULeY2b-vZNqpi |
| Date Created | January 3, 2023 |
| Date Updated | January 3, 2023 |