Seeking joint venture partner or buyout for turnkey near shovel ready fully approved senior living project. Certificate of Need in place. Fully entitled for 160 beds of skilled nursing; 55 bed memory care wing; 66 assisted living apartments and 35 workforce housing independent living apartment. Approved 201H resolution which exempts the project form GET and RPT. 70% of residents Medicaid rent paid by government. Hawaii has the highest reimbursement rate in the country. Financing via tax exempt revenue bond which makes a development cash flow positive at closing rather than when the project reaches abstain occupancy. Seeking $6 million dollars POF for JV partnership. The project NOI from just the 160 bed bed skilled nursing and 55 bed memory care in five years is $7,018,168.
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Ronald "Skeeter" Stebbins
Broker, Real Estate Negotiation Expert RENE®, Accredited Buyers’s Representative ABR®, Short Sale Foreclosure Resource SFR®, Internet Marketing Expert e-PRO®