HomeMy WebLinkAbout026 - V2 Goldspur at Urban Farm - NH PresentationGoldspur at Urban Farm
Neighborhood Meeting – August 15
th , 2025
Neighborhood Meeting 8/15/25
Roers Companies
•Founded in 2012
–90 Projects & 15,000 units completed or under construction
•Full Service Real Estate Firm
–Development
–Construction Management
–General Contracting
–Property Management
•Development Perspective
–Long-term Community Commitment
–Focused on providing housing that positively
impacts residents and communities
–Experience in various product types
Project Team
•Kaas Wilson Architects (Watts Leaf)
•Morrison-Maierle Bozeman
•Rawhide – Geotech
•Montana Board of Housing
•Human Resource Development Council (HRDC)
•Roers General Contracting
Site / Architectural Overview
•Total Units: 145 ( 2, 3, 4
bedrooms)
•Site Size: ~3.4 Acres
•4 Stories
•For tenants making 60% AMI
(Workforce)
•Amenities to include fitness center,
clubroom, mailroom, storage
lockers and playground
Source & Use Summary
Key Deal Metrics
Market Rate Project Type:
140Total Units:
$54,026,511TDC:
$7,000,000Acquisition Cost:
10/1/2025Financial Closing:
10/1/2025Land Closing:
11/31/2024 - $150,000
4/31/2025 - $100,000
Earnest Money Milestones:
$225,000Construction Cost/Unit:
Construction Cost/SF:
20Construction Periods:
RGCGeneral Contractor:
1-BR: 50 (36%)
2-BR: 74 (53%)
3-BR: 16 (11%)
Unit Mix:
Market Rate: 20%Overall Capture Rate:
F&FRaise Type:
$ 17,018,350.82 Raise Amount:
NonePreferred Equity:
65%Debt LTC:
8%Interest Rate (Constr.)
5.50%Interest Rate (Perm)
5.25%Exit Cap Rate:
6,143PUPY:
$2.48Average Rent/SF:
$ 3,225,760 NOI:
NOI (Roers Res.):
3.30%Income/Expense Inflation:
YesTrended Rents?
Market / Rent Assumptions Equity / Debt Assumptions Proforma Assumptions
Basic Project Information Key Dates / Milestones Construction Assumptions
Roers Economic Summary
$1,274,210 Total Cash Developer Fee:
$420,489Total Paid at Closing:
1/3 at Closing, 1/3 During
Construction, 1/3 at
Construction Completion
Payment Details:
$140,000Total CM Fee:
$0Total Paid at Closing:
Assumed $1,944 paid Monthly
during 24-Month Construction
Period
Payment Details:
$1,890,000Total RGC Fee:
$0Total Paid at Closing:
Paid Monthly based on
Completion Percentage During
Construction
Payment Details:
4.00%Total PM Fee:
4.00% / 0.00%Above/Below the Line:
5.25%Exit Cap Rate:
$592,643Sale Price/Unit:
$ 8,817,708 Residual to Roers:
5.25%Exit Cap Rate:
$495,556Sale Price/Unit:
$2,457,575Residual to Roers:
Developer Fee Summary Construction Management
Fee Summary Roers GC Fee Summary
Property Management Fee Summary Sale Assumptions – Year 10 Sale Assumptions – Year 4
Project Cash Flows Summary
Summary of Material Changes
Current / ProposedPrevious SubmissionItem/Metric
$225,000$225,000Construction Cost/Unit:
2424Construction Periods:
1212Lease-Up Periods:
$2.48$2.48Average Rent PSF:
$6,143$5,893PUPY Operating Expenses:
5.50%5.50%Perm Loan Interest Rate:
5.25%5.25%Sale Cap Rate:
N/AN/A{Add others as needed}
Executive Summary Project Strategy / Business Plan –
Sustainable job, income, industry, and population growth
Located on corridor into the city, surrounded by a plethora of
planned and newly completed developments
Opportunity to come online at an advantageous time and
provide great returns in a new market investors will be excited
about
Biggest Project Risks –
Competitive housing supply and timing of delivery
12.78%Average CoC (10-Year):
14.03%IRR with Sale (10-Year):
2.61Equity Multiple (10-Year):
22.6%IRR with Sale (4-Year):
2.12Equity Multiple (4-Year):
Market RateProject Type:
140Total Units:
10/1/2025Financial Closing Date:
Key Project Information
Key Project Information