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8 U n i t s / 3 4 B e d s N e w m a n C e n t e r
H o u s i n g O p p o r t u n i t y
U n i v e r s i t y o f W i s c o n s i n –
O s h k o s h
4 7 1 H i g h A v e . O s h k o s h , W I
5 4 9 0 1
O F F E R I N G
M E M O R A N D U M
Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 2
About Us 3
Investment Summary
• Building & Hard Costs 4
• Soft Costs 5
• Financing Costs 6
Operating Pro Forma 7 - 10
Transaction Summary 11
Loan Request 12
Property Description 13
Floor Plans 14,15
Property Photographs 16
Rent Comparison Maps & Analysis 17 - 21
T A B L E O F C O N T E N T S
Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 3
Amicus is a firm built on a foundation of service to not-for -profit organizations, and possesses the skill and experience needed in all areas of project development. These skills include: strategic planning, feasibility examination, analysis, structured financing as well as construction for clients with unique needs. The Amicus Companies’ not-for-profit clients include colleges, universities, health care organizations, social services organizations, as well as cultural institutions. Amicus has demonstrated a prowess in both project development and facilities management.
www.ipm-amicus.com
A B O U T
T H E A M I C U S
C O M P A N I E S L L C
Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 4
I N V E S T M E N T S U M M A R Y B u i l d i n g P u r c h a s e & H a r d C o s t s
Type Opinion Total $
Building Purchase 375,000.00$
Hard Costs - Rennovation Costs
Kitchen 6,500.00$
Bathroom 2,500.00$
Wall Partitions 2,500.00$
Hard Cost Contingency 2,300.00$
Total Hard Costs 13,800.00$
5 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 5
I N V E S T M E N T S U M M A R Y S o f t C o s t s
Soft Costs
Enviromental Surveys - Abatement 1,250.00$
Survey - Subdivision 750.00$
Government Permits and Fees 1,000.00$
Architectual & Engineering 15,700.00$
Professional & Marketting Fees 5,000.00$
Development Fee 20,000.00$
Insurance 7,500.00$
Legal Fees 2,500.00$
FF&E 7,500.00$
Moving Expenses 966.67$
Capitalized Operating Expense - 6 Mo. 25,000.00$
Soft Cost Contingency 17,433.33$
Total Soft Costs 104,600.00$
6 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 6
I N V E S T M E N T S U M M A R Y F i n a n c i n g C o s t s
TOTAL PROJECT COST: $500,000
Financing Costs
Apprasial 1,500.00$
Project Financing 1,500.00$
Title Insurance & Escrow 2,500.00$
Financing Contingency 1,100.00$
Total Financing Costs 6,600.00$
7 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 7
O P E R A T I N G P R O F O R M A :
O c c u p a n c y 9 7 % S c e n a r i o Pro Forma Profit & Loss Initial Year 2 Year 3 Year 4 Year 5
Estimated Revenue Escalation Percentage 3.0% 3.0% 3.0% 3.0% 3.0%
Projected Sales Revenue (97% Occupancy)
Rent Revenue 127,434.72$ 131,257.76$ 135,195.49$ 139,251.36$ 143,428.90$
Director Residence 6,000.00$ 6,180.00$ 6,365.40$ 6,556.36$ 6,753.05$
Miscellaneous revenues 6,120.00$ 6,303.60$ 6,492.71$ 6,687.49$ 6,888.11$
Gross Operating Revenue 139,554.72$ 143,741.36$ 148,053.60$ 152,495.21$ 157,070.07$
Estimated Expense Escalation Percentage 2.5% 2.5% 2.5% 2.5% 2.5%
Total Utility Expenses 9,074.16$ 9,301.01$ 9,533.54$ 9,771.88$ 10,016.17$
Total Maintenance Expenses 22,358.75$ 22,917.72$ 23,490.66$ 24,077.93$ 24,679.88$
Total Staff Expenses 35,000.00$ 35,000.00$ 35,000.00$ 35,000.00$ 35,000.00$
Total Administrative Expenses 17,582.19$ 24,540.90$ 25,183.18$ 25,842.37$ 26,518.92$
Total Operating Expenses 84,015.10$ 91,759.64$ 93,207.38$ 94,692.17$ 96,214.97$
Net Operating Income 55,539.62$ 51,981.72$ 54,846.23$ 57,803.04$ 60,855.09$
Mortgage Payments 26,020.57$ 26,020.57$ 26,020.57$ 26,020.57$ 26,020.57$
Mezanine Finacing Payments 12,414.37$ 12,414.37$ 12,414.37$ 12,414.37$ 12,414.37$
Debt Service Coverage 1.45 1.35 1.43 1.50 1.58
Net Income after Debt. Service 17,104.68$ 13,546.78$ 16,411.29$ 19,368.10$ 22,420.15$
8 8 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 8
O P E R A T I N G P R O F O R M A :
O c c u p a n c y 9 4 % S c e n a r i o Pro Forma Profit & Loss Initial Year 2 Year 3 Year 4 Year 5
Estimated Revenue Escalation Percentage 3.0% 3.0% 3.0% 3.0% 3.0%
Projected Sales Revenue (94% Occupancy)
Rent Revenue 123,493.44$ 127,198.24$ 131,014.19$ 134,944.62$ 138,992.95$
Director Residence 6,000.00$ 6,180.00$ 6,365.40$ 6,556.36$ 6,753.05$
Miscellaneous revenues 5,760.00$ 5,932.80$ 6,110.78$ 6,294.11$ 6,482.93$
Gross Operating Revenue 135,253.44$ 139,311.04$ 143,490.37$ 147,795.09$ 152,228.94$
Estimated Expense Escalation Percentage 2.5% 2.5% 2.5% 2.5% 2.5%
Total Utility Expenses 9,074.16$ 9,301.01$ 9,533.54$ 9,771.88$ 10,016.17$
Total Maintenance Expenses 22,358.75$ 22,917.72$ 23,490.66$ 24,077.93$ 24,679.88$
Total Staff Expenses 35,000.00$ 35,000.00$ 35,000.00$ 35,000.00$ 35,000.00$
Total Administrative Expenses 17,410.14$ 24,363.69$ 25,000.65$ 25,654.36$ 26,325.28$
Total Operating Expenses 83,843.05$ 91,582.42$ 93,024.85$ 94,504.17$ 96,021.33$
Net Operating Income 51,410.39$ 47,728.62$ 50,465.53$ 53,290.92$ 56,207.61$
Mortgage Payments 26,020.57$ 26,020.57$ 26,020.57$ 26,020.57$ 26,020.57$
Mezanine Finacing Payments 12,414.37$ 12,414.37$ 12,414.37$ 12,414.37$ 12,414.37$
Debt Service Coverage 1.34 1.24 1.31 1.39 1.46
Net Income after Debt. Service 12,975.45$ 9,293.68$ 12,030.59$ 14,855.98$ 17,772.67$
9 9 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 9
O P E R A T I N G P R O F O R M A :
O c c u p a n c y 9 0 % S c e n a r i o Pro Forma Profit & Loss Initial Year 2 Year 3 Year 4 Year 5
Estimated Revenue Escalation Percentage 3.0% 3.0% 3.0% 3.0% 3.0%
Projected Sales Revenue (90% Occupancy)
Rent Revenue 118,238.40$ 121,785.55$ 125,439.12$ 129,202.29$ 133,078.36$
Director Residence 6,000.00$ 6,180.00$ 6,365.40$ 6,556.36$ 6,753.05$
Miscellaneous revenues 5,580.00$ 5,747.40$ 5,919.82$ 6,097.42$ 6,280.34$
Gross Operating Revenue 129,818.40$ 133,712.95$ 137,724.34$ 141,856.07$ 146,111.75$
Estimated Expense Escalation Percentage 2.5% 2.5% 2.5% 2.5% 2.5%
Total Utility Expenses 9,074.16$ 9,301.01$ 9,533.54$ 9,771.88$ 10,016.17$
Total Maintenance Expenses 22,358.75$ 22,917.72$ 23,490.66$ 24,077.93$ 24,679.88$
Total Staff Expenses 35,000.00$ 35,000.00$ 35,000.00$ 35,000.00$ 35,000.00$
Total Administrative Expenses 17,192.74$ 24,139.77$ 24,770.00$ 25,416.80$ 26,080.59$
Total Operating Expenses 83,625.65$ 91,358.50$ 92,794.21$ 94,266.61$ 95,776.64$
Net Operating Income 46,192.75$ 42,354.45$ 44,930.13$ 47,589.46$ 50,335.11$
Mortgage Payments 26,020.57$ 26,020.57$ 26,020.57$ 26,020.57$ 26,020.57$
Mezanine Finacing Payments 12,414.37$ 12,414.37$ 12,414.37$ 12,414.37$ 12,414.37$
Debt Service Coverage 1.20 1.10 1.17 1.24 1.31
Net Income after Debt. Service 7,757.81$ 3,919.51$ 6,495.19$ 9,154.53$ 11,900.17$
10 10 10 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 10
O P E R A T I N G P R O F O R M A :
O c c u p a n c y 8 7 % S c e n a r i o Pro Forma Profit & Loss Initial Year 2 Year 3 Year 4 Year 5
Estimated Revenue Escalation Percentage 3.0% 3.0% 3.0% 3.0% 3.0%
Projected Sales Revenue (87% Occupancy)
Rent Revenue 114,297.12$ 117,726.03$ 121,257.81$ 124,895.55$ 128,642.42$
Director Residence 6,000.00$ 6,180.00$ 6,365.40$ 6,556.36$ 6,753.05$
Miscellaneous revenues 5,400.00$ 5,562.00$ 5,728.86$ 5,900.73$ 6,077.75$
Gross Operating Revenue 125,697.12$ 129,468.03$ 133,352.07$ 137,352.64$ 141,473.22$
Estimated Expense Escalation Percentage 2.5% 2.5% 2.5% 2.5% 2.5%
Total Utility Expenses 9,074.16$ 9,301.01$ 9,533.54$ 9,771.88$ 10,016.17$
Total Maintenance Expenses 22,358.75$ 22,917.72$ 23,490.66$ 24,077.93$ 24,679.88$
Total Staff Expenses 35,000.00$ 35,000.00$ 35,000.00$ 35,000.00$ 35,000.00$
Total Administrative Expenses 17,027.88$ 23,969.97$ 24,595.11$ 25,236.66$ 25,895.05$
Total Operating Expenses 83,460.79$ 91,188.70$ 92,619.32$ 94,086.47$ 95,591.10$
Net Operating Income 42,236.33$ 38,279.33$ 40,732.76$ 43,266.17$ 45,882.12$
Mortgage Payments 26,020.57$ 26,020.57$ 26,020.57$ 26,020.57$ 26,020.57$
Mezanine Finacing Payments 12,414.37$ 12,414.37$ 12,414.37$ 12,414.37$ 12,414.37$
Debt Service Coverage 1.10 1.00 1.06 1.13 1.19
Net Income after Debt. Service 3,801.39$ (155.61)$ 2,297.82$ 4,831.23$ 7,447.18$
11 11 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 11
T R A N S A C T I O N S U M M A R Y
Financing structure: the Newman Center purchases the land and building from the parish for $375,000. The Newman Center would sell an estate for thirty (30) years in the building for $275,000 provided that Amicus invest $125,000 in developing the building as a Newman House. Amicus would seek total financing for $400,000. Amicus would rent the land from the Newman Center for a thirty (30) year term. The Newman Center with the support of the Diocese would master lease on an annual basis 34 student beds and one apartment. Any beds not filled for the Newman Center shall be turned over to Amicus for marketing, and leased to students at large. Any student beds filled in this manner shall be credited to the master lease obligation.
12 12 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 12
L O A N R E Q U E S T
Amicus requests a term loan of $275,000 for a fifteen (15) year period at 5% interest amortized over 30 years. In addition Amicus requests a five (5) year line of credit at a 5% interest rate in the amount of $125,000. Total borrowing required: $400,000 credit enhanced by Newman Center master-lease guaranteed by the Diocese of Green Bay.
P R O P E R T Y D E S C R I P T I O N
Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum
Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 14
F L O O R P L A N S - 1 s t F l o o r
Yellow Highlights represent new wall partitions. Pink Highlights represent location of beds.
18 – Student Beds 1 – Director Apartment
15 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 15
F L O O R P L A N S - 2 n d F l o o r
Yellow Highlights represent new wall partitions. Pink Highlights represent location of beds.
16 – Student Beds 1 – Manager Apartment
Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 16
P R O P E R T Y P H O T O G R A P H S
17 17
R E N T C O M P A R I S O N M A P O n C a m p u s
Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 17
18 18 18 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 18
R E N T C O M P A R I S O N A N A L Y S I S O n C a m p u s R a t e s
19 19 19
R E N T C O M P A R I S O N M A P O f f C a m p u s
Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 19
20 20 20 20
R E N T C O M P A R I S O N A N A L Y S I S O f f C a m p u s R a t e s
Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 20
21 21 21 21 21 Newman Center Housing | University of Wisconsin– Oshkosh| Offering Memorandum 21
R E N T C O M P A R I S O N A N A L Y S I S O f f C a m p u s R a t e s
KENNETH A. MCHUGH SR.
CEO
+1 630 990 1401
KENNETH A. MCHUGH JR.
Executive Vice President of Sales
+1 630 990 1403
