Ivy Preparatory Academy

3705 Engineering Drive - Peachtree Corners (Atlanta) GA 30092

LTV (Loan to Value)	65.00%	Current NOI	$490,000.00
Interest Rate	4.250%	Capital Rate	9.500%
Fixed Term	10 Years	Land Area	3.54 Acres
Amortization	25 Years	Lease Type	Modified Gross
Loan Amount	$3,797,300.00	Property Type	Office
Payment	$20,571.42	Property Lease	State Sponsored Charter School
Bulding Size	0 SF	Remaining Terms	9 Years

Location Description

NNN Lenders is pleased to offer for sale to qualified investors this two (2) building +/- 46,278 square foot single-tenant office facility located in Peachtree Corners, Georgia (the “Property”) serving as the Gwinnett campus for Ivy Preparatory Academy, Ltd (the “Tenant”). The Property is comprised of two (2) Class A twin office buildings and is situated on 3.54 acres in the heart of highly affluent Peachtree Corners. The Property serves as the Tenant’s main location and showcase space, with the Tenant being one of Metropolitan Atlanta’s most well-recognized and best performing publicly chartered college-preparatory schools with a perennial record of out-performing state and local district averages in several areas on state exams.Originally constructed in 2007, the Property is 100% leased to the Tenant under a modified gross (MG) lease with just under nine (9) years of term remaining and 2.0% annual escalations commencing in 2017. The lease was designed to function like a net lease by limiting landlord expense responsibilities to base year taxes, base year insurance, roof, and structure. This lease structure provides stable and predictable cash flow for an owner. In addition, the Property comes with a well below market modified gross rental rate of $10.59 per square foot (+/- $8.83/sf on a net basis) and a percentage rent clause giving an owner the ability to receive increased rent as the school grows. Centrally located to the City of Atlanta with prime access to the I-85 corridor within Gwinnett County, the City of Peachtree Corners is one of the most affluent suburbs of Atlanta, with the area boasting an average household income of $150,000 in a one (1) mile radius of the Property.

Highlights

Construction – The Property consists of two Class A construction office buildings.Passive Modified Gross Lease – With the Landlord only…

Property Description

The City of Peachtree Corners is the newest and one of the most affluent cities in the region. It boasts an impressive demographic profile of a highly skilled and highly educated workforce, an advantage that has helped it to grow into one of the most desirable locations in the Atlanta metro area. As both employers and skilled laborers began migrating to the area, so did the retail, dining, and entertainment establishments typically found in wealthy, economically vibrant communities. Today the city’s shopping and dining scene has morphed into one of Atlanta’s most recognizable.