Columbus Industrial Complex Equity

Annualized return3

Term

60 months

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Status

Closed

Recently funded

Accepting $10,000 - $1,000,000 investments

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Accepting $10,000 - $1,000,000 investments

Overview

Slide 1 of 7

Important Notes

This offering is not available to pension plans, defined benefit plans, defined contribution plans, retirement plans, IRAs, 401(k) and 403(b) funds, and funds comprised of these plans and funds.

Highlights

Sale leaseback strategy

Strong current cash flows

Sticky tenants

Desirable location

Market dynamics

Experienced team

Robinson Logistics is the seller of the property and signed a new five-year lease in November of 2021 as part of the sale-leaseback transaction. The lease has an initial rate of $3.00 per SF with 3.00% annual increases, a five-year renewal option, and no termination option. As part of the transaction, Robinson achieved a rental rate below market. Robinson’s rent is roughly $2.00 per SF below market rates. If, for any reason, Robinson Logistics decided to vacate their space, the Sponsor expects to be able to re-lease it at market rates. This occurrence could result in higher net operating income and overall returns.
The property is 100% occupied by two long-term tenants with contractual yearly rent increases and is expected to generate an average annual cash yield of ~8.5%.
The property was purchased from Robinson Logistics, one of the two current tenants, via a sale-leaseback strategy. Robinson Logistics has occupied the property for 7 years and, as a condition for sale, was required to sign a new 5-year lease. The other tenant at the property is the State of Ohio. The State has been leasing the property for 24 years and has just signed another 2-year lease renewal. Due to state policy, the tenant is only allowed to sign 2-year renewals, however, the Sponsor conducted a tenant interview with the State, and they confirmed their intent to stay in the building long term. Additionally, the operational challenges and approval process for signing a new state lease is very cumbersome, which further mitigates the risk of the State of Ohio moving to a different location.
The property is located at 6606 Tussing Rd, Reynoldsburg, OH, approximately 10 miles east of downtown Columbus, OH. The property benefits from the I-70 (east-west highway running from Utah to Maryland) and 1-71 (running from Louisville, KY to Cleveland, OH), positioning it as a major distribution center and last-mile delivery location to support a population of +560k within a 10 mile radius.
According to Costar, the submarket where the property is located consists of 10.5M SF of industrial space, ~90% of which is logistics facilities. Rents on logistics properties in the submarket have increased by 6.6% over the past 12 months, and logistics annual rent growth is expected to average 4% per year over the next 5 years. \ \ In relation to the office market in the area, rent growth has averaged 2.1% over the last 10 years. Office vacancy and rent growth are expected to remain relatively flat over the next five years.
Formed in the mid 1900s, Heritage Capital Group is a private, third-generation, family-owned real estate investment, development and management company. Since the 1980s, Heritage has owned and managed over 10M SF of office, industrial and multifamily properties in over 20 states across the US. Its current portfolio includes over 4.9M SF of industrial, 444 units of multifamily and 1M SF of office/retail. \ \ On the 19 realized investments across industrial, office, and multifamily assets, the firm has generated 28% IRR and 2.4x Equity Multiple.

Essentials

Please refer to the Investment Memorandum in the Docs section for more details about this offering.

Capital structure

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Cash flow

How do I get paid?

Assets

What is the asset underlying the transaction?

Returns & Management fees

Ann'l management fee

2.5%

Target ann'l net return

16% - 18%

Inv share in excess profits

100%

Target equity multiple

1.9x - 2.1x

Target ann'l cash yield

~8.5%

Schedule

Payment schedule

Quarterly + event based

Prefunded

Yes

Target term

5 years

Structure

Tax document

K-1

Offering structure

SPV

Expenses

Ann'l flat expense

0.25%

Docs

Content

Investing in private markets and alternatives, such as this offering, is speculative and involves a risk of loss, and those investors who cannot afford to lose their entire investment should not invest. Returns are not guaranteed.

¹ Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in significant losses.

² Represents an average net realized internal rate of return (IRR) with respect to all matured investments in your portfolio, utilizing the effective dates and amounts to and from the investments and net of management fees and all other expenses charged to the investments. Past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. All securities involve risk and may result in significant losses, including the loss of principal invested.[read more]

³ "Annual interest," "Annualized Return" or "Target Returns" represents a projected annual target rate of interest or annualized target return, and not returns or interest actually obtained by fund investors. “Term" represents the estimated term of the investment; the term of the fund is generally at the discretion of the fund’s manager, and may exceed the estimated term by a significant amount of time. Unless otherwise specified on the fund's offering page, target interest or returns are based on an analysis performed by Yieldstreet of the potential inflows and outflows related to the transactions in which the strategy or fund has engaged and/or is anticipated to engage in over the estimated term of the fund. There is no guarantee that targeted interest or returns will be realized or achieved or that an investment will be successful. Actual performance may deviate from these expectations materially, including due to market or economic factors, portfolio management decisions, modelling error, or other reasons.

⁴ Reflects the annualized distribution rate that is calculated by taking the most recent quarterly distribution approved by the Fund's Board of Directors and dividing it by prior quarter-end NAV and annualizing it. The Fund’s distribution may exceed its earnings. Therefore, a portion of the Fund’s distribution may be a return of the money you originally invested and represent a return of capital to you for tax purposes.

⁵ Represents the sum of the interest accrued in the statement period plus the interest paid in the statement period.

⁶ The internal rate of return ("IRR") represents an average net realized IRR with respect to all matured investments, excluding our Short Term Notes program, weighted by the investment size of each individual investment, made by private investment vehicles managed by YieldStreet Management, LLC from July 1, 2015 through and including July 18th, 2022, after deduction of management fees and all other expenses charged to investments.

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