Ken Magargee
Yorba Linda, CA (USA)
Role(s):
Founder/Owner/Principal
Grand Montecito Transitional Skilled Nursing Facility
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Startup
Location:
Las Vegas
Industry:
Real Estate
Year Founded:
2011
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Company
Description:
CMD Real Estate Group is seeking accredited investors for the purchase and development of eight parcels totaling 4.62 Acres of partially entitled land with 6,500 SF of leased improvements in the North Las Vegas Submarket of Nevada.
The development entity will build and own the facility and have a long term (20 year) lease with Encompass Health Services. The Lease is calculated on a 10% return on total development costs.
Investors will receive an 8% Preferred Return and 70% of the profits.
The Expected Project level IRR is 28%.
The Expected Investor IRR is 24%.