Montgomery, AL 36106

Country Club Centre

Targeted Equity
Multiple

1.6x-1.8x

Targeted Net
IRR

12-14%

Targeted Average Cash-on-Cash

5.0-5.5

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Overview

Country Club Centre, is an 85%-occupied, 67,662 SF grocery-anchored retail center located in the Sunbelt market of Montgomery, Alabama. The center is anchored by a 35,922-square foot Winn-Dixie, an affiliate of ALDI Grocery Stores, which has a lease term through 2032 and boasts strong sales with a profitable health ratio. Winn-Dixie has an extensive store remodel planned in the next 1-2 years that is anticipated to drive additional foot traffic to the shopping center. Over the holding period, a repositioning effort is expected to provide investors with income growth, further bolstered by NOI increases brought on by the lease-up of vacant space along with contractual rent increases during the holding period.

Financial Targets

$5.75 M

4-5 Years

12-14%

1.6x-1.8x

5.0-5.5

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Investment Table

Move slider below to change the Initial Investment Amount

Initial Investment Amount
Total Distributions of Quarterly Cash Flow
Return of Capital
Proceeds from Sale
Total Amount Returned

Numbers shown above represent projections at end of Year 5.

Note: The above table is for informational and illustrative purposes only and reflects estimates which may or may not come to be realized based upon a variety of assumptions. Such assumptions contain significant amounts of subjective judgment and analysis and there can be no assurances that actual events will not materially differ from those assumed. The above chart should not be relied upon as an investment recommendation of any kind. Please contact FNRP for an explanation as to how such numbers were calculated. Cash distributions and any specific returns are in no way guaranteed.

Why We're Investing

Value-Add, Grocery-Anchored Shopping Center in Sunbelt Market

Currently 85% leased with the opportunity to lease six spaces totaling over 10,000 square feet
FNRP is in early negotiations with one national credit tenant to lease almost half of the current vacancy

In-Place Lease Structures Promote Rent Growth

5 of 9 inline leases have built-in escalations providing for annual, contractual rental growth
None of the inline tenants have fixed rate renewal options, thereby allowing the landlord to increase rents to market levels upon lease expirations

High-Performing Grocery Anchor with Extensive Renovation Planned

The anchor tenant is Winn-Dixie (owned by ALDI), with anecdotal sales exceeding $11 million and a strong 2% health ratio
Winn-Dixie is planning an extensive renovation in the next two years, which is expected to drive additional foot traffic and sales volume to the center

Dominant Location in Infill Neighborhood Trade Area

The asset is located in Montgomery, Alabama on Carter Hill Road, a primary east-west arterial with over 29,800 cars per day
Average 3-mile demographics include a population exceeding 71,000 and average household income approaching $75,000
There is no grocery competition within 1.5 miles of the center

Your Personal Investor Relations Associate

Joseph Palermo

+1 (631) 309-2612

+1 (631) 309-2612

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Targeted Net IRR (“Net IRR”): is defined as the annualized, compound rate of return using equity contributions and distributions as they occurred on specific dates during the investment period. Net IRR is reflective of all fees charged and paid to First National Realty Partners LLC and its affiliates and subsidiaries.
Targeted Net Equity Multiple (“Net EM”): is defined as the total distributions and remittances to equity investors divided by the total equity contributions from investors during the investment period. Net EM is reflective of all fees charged and paid to First National Realty Partners LLC and its affiliates and subsidiaries.
Targeted Average Cash-on-Cash Return: is defined as the average of the targeted annual cash flow return on invested equity over the projected hold period. All projected Cash-on-Cash returns are reflective of all fees charged and paid to First National Realty Partners LLC and its affiliates and subsidiaries. Cash distributions and any specific returns are not guaranteed.
Targeted Stabilized Cash-on-Cash Return: is defined as targeted annual cash flow return on invested equity once business plan is achieved. Please consult annual cash flows (Targeted Cash on Cash Returns) in the Financial Model.
Past performance may not be indicative of future results. An investment in commercial real estate is speculative and subject to risk, and there can be no assurance that the future performance of any specific investment, investment strategy or selection of a specific property as referenced in the information herein, will be profitable, equal any corresponding indicated historical performance level(s) or be suitable for your needs. Due to various factors, including changing market conditions, this content may not be reflective of current opinions or positions.

NOTE: Cash distributions and any specific returns are not guaranteed. An investment in commercial real estate is subject to risk, including the risk that all of your investment may be lost. Any representations concerning investing in commercial real estate, including, without limitation, any representations as to stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. The ability to make distributions or the amount of distributions may be affected by factors such as debt and lender restrictions, future capital expenditure needs, and financial performance of the property.

This webpage is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation of an offer to buy any securities, which offer may be made only at the time a qualified offeree receives a current Confidential Offering Memorandum relating to a proposed investment opportunity.

As of 12.4.2024