Property

White Star Petroleum Sale-Leaseback Stillwater, OK

Property
Type
Office
Investment Type
Property
Asset Profile
Core Plus
Min. Investment
$25K
Estimated Hold
5Y
Target Return (IRR)
20.4%
Target Annual Cash
11.4%
Target Equity Multiple
2.2x
 

Offered By

J & R Investments Rising Sponsor

Elverson, PA

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Assets Under
Management

Currently
$38.81MM
Exited
$2.8MM
Portfolio LTV
75.4%
Historical
Realized Returns

Total IRR
15%
Equity Multiple
2.2x
Annual Cash
9%
Years Of
Experience

As Principals
30+ years
In Business
20 years
Size
6 Staff
* All information is reported by J & R Investments as of 2/22/2017.
 

About this Property

This is a sale-leaseback to White Star Petroleum on a 15-year absolute NNN lease with no landlord responsibilities and four 5-year options. The investor will receive an 8% preferred return, then 70% of the cashflow above the 8% pref to a 20% IRR, then 50% of the cash flow thereafter. Sponsorship expect to sell the property within five years and deliver a 20%+ IRR to the investors.

Risk & Mitigants to Risk

There is volatility in the oil/gas industry in large part due to the variable pricing environment. The price of oil has recently dropped into the high $40’s where many expect it to remain until the first quarter of 2018 when industry analysts expect it to rise to $60 per barrel. White Star also has a lead equity sponsor, The Energy and Minerals Group (EMG), a $14.7 billion private equity firm specializing in investments in the oil and gas business with a track record of success.

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Key Points

  • New construction in 2015, state of the art field office for White Star's north central Oklahoma drilling and operations.
  • Rent increases 2% annually during the term of the lease.
  • White Star is backed by EMG, a $14.7B private equity firm
 

Financials

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Location Details

Stillwater, OK

Located in Stillwater, Oklahoma home to Oklahoma State University with an enrollment of 25k+ students and 45 minutes from the Oklahoma City CBD.
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Documents

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Frequently Asked Questions

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