Crestline Portfolio
Crestline Portfolio

Property P&L

One asset, A to Z — statement, debt, rent position, and flags.

The Banyan at Westshore

MultifamilyMid-rise
Tampa · Westshore · 312 units · built 2016 · acquired 2021
No flags
Value
$62M
NOI
$3.8M
6.1% yield on value
Occupancy
95%
Loss-to-lease
$355.7K
capture at renewal

Annual operating statement

Effective gross income$6,710,000
Property taxes & insurance($1,073,600)
Payroll($738,100)
Repairs & maintenance($536,800)
Utilities($335,500)
Management & admin($402,600)
Other operating expenses$136,600
Net operating income$3,760,000
Debt service (3.42% fixed)($1,549,670)
Cash flow after debt service$2,210,330

Rent position vs market

In-place
$1,885/mo
Market
$1,985/mo

5% below market — $355,680 annual capture opportunity at renewal.

Debt

LenderFannie Mae DUS
Balance$38,400,000
Rate3.42% Fixed
Maturity2031 Q3
DSCR1.61
LTV62%