Smith Home Farm - EB5Projects.com

Smith Home Farm
CMB MARYLAND INFRASTRUCTURE INVESTMENT GROUP 37
Introducing A $500,000 EB-5 Investment Opportunity
From The CMB Regional Centers In The State Of Maryland
President
Patrick F. Hogan
Prince George’s County, Maryland
Sr. VP Worldwide Operations
Kraig A. Schwigen
Vice President of Company Operations
Pam Ellis
Vice President of Project Development
Ryan G. Butler
Vice President of Asia Market
Ky Boyle
Midwest Executive Offices
7819 42nd Street West
Rock Island, Illinois 61201, U.S.A.
(309) 797-1550 phone
(855) 852-5133 facsimile
[email protected]
www.cmbeb5visa.com
TO:
CMB REGIONAL CENTERS
FROM: MICHAEL ROSENFELD
DATE: JULY 31, 2014
EXECUTIVE SUMMARY
In July of 2011, SHF Project Owner, LLC (“Owner” or “Management”), a joint venture between affiliates of
Woodridge Capital Partners, LLC and Oaktree Capital Management, acquired fee simple interest in Smith
Home Farm, a 646-acre, master planned development project, well located in Prince George’s County,
Maryland (”Project”). The Project is currently planned for 1,926 residential units, is not encumbered by any
lender financing, and all costs-to-date have been funded from equity. It was purchased for $25.9M, with an
additional $22.3M invested through June 2014 to process approvals with Prince George County, as well as to
commence backbone infrastructure improvements. The overall development plan for the Project
anticipates net sale proceeds of $218.3M with total development costs of $131.6M, resulting in approximately
$86.7M in net cash flow through the remaining 69-month development period.
CMB Maryland Infrastructure Investment Group 37
CMB once again has the opportunity to
work with Woodridge Capital Partners, LLC
(“Woodridge”), a major U.S. real estate
development and investment firm. CMB
was authorized to raise up to $70 million
for the Smith Home Farm project. CMB
has committed to provide funding for this
project through its Group 37 Infrastructure
Investment Partnership. The CMB loan
will provide financing for the horizontal
development and backbone infrastructure
construction of the Smith Home Farm master
planned community.
Smith Home Farm is consisted of
1,926 residential lots spanning 646
acres to be developed over 6 phases. It
is part of a greater Westphalia Sector
Plan, strategically located 10 miles
from DC, near the intersection of
the I-495 Capital Beltway and Route
MD-4 (Pennsylvania Avenue)
Smith Home Farm Master Planned
Community Development
Smith Home Farm is a large-scale master
planned community development in the Maryland suburbs of Washington DC. It is located in the greater
Westphalia Sector Plan, a new urban township development in Prince George’s County, Maryland. Westphalia
Sector spans over 6,000 acres, and encompasses a transit-oriented Town Center with 3 to 5 million square feet of
commercial space, and 18 different residential and commercial real estate developments. Smith Home Farm is the
most prominent development, with 1,926 residential lots over 646 acres of land.
Westphalia Sector is strategically located near the intersection of the Capital Beltway (I-495), the primary highway
artery in the D.C. metropolitan area that encircles the city, and Route MD-4 (Pennsylvania Avenue), one of the
principal corridors into Washington D.C. By virtue of this ideal location, which is approximately ten miles from the
U.S. Capitol and the Pentagon, Smith Home Farm enjoys convenient access to major employment and commercial
centers in both Washington D.C. and suburban Maryland.
Total Group 37 Investment (Approximate Values)
Total EB-5:
Total Project Spending (includes $237 million supporting infrastructure):
Total Indirect Jobs:
Project Timeline
•
•
•
•
•
•
Phase 1 (465 lots): Construction from Q1 2013 to Q4 2016
Phase 2 (403 lots): Construction from Q1 2015 to Q3 2017
Phase 3 (275 lots): Construction from Q2 2015 to Q3 2017
Phase 4 (300 lots): Construction from Q1 2016 to Q1 2017
Phase 5 (247 lots): Construction from Q1 2016 to Q3 2018
Phase 6 (236 lots): Construction from Q1 2016 to Q3 2018
up to $70 million
$368.5 million
1,925
THE CMB
OPPORTUNITY
REGIONAL CENTERS, LLC
Federally Designated EB-5 Regional Centers
In fact, employment in the Washington DC MSA
is expected to grow by between 200,000 and
250,000 jobs in the next four years (2014-2017).
Of this growth, 80,000 jobs is expected to be
created in suburban Maryland.
Pursuant to the Westphalia Sector Plan, the
residential communities will be complemented
by a comprehensive array of newly developed
community amenities, including (i) seven
new schools, (ii) new public safety facilities,
(police, fire and rescue), (iii) new public services
(library and health facilities), (iv) new road
infrastructures to provide convenient access to
all areas of Westphalia, and (v) over 1,850 acres
of open space, parks and recreation facilities,
Backbone infrastructure and intract work is under construction for Phase 1. In this phase,
including a 150-acre Central Park situated
465 lots on approximately 126 acres of land will be supplied to home builders.
adjacent to Smith Home Farm. Various off-site
improvements are funded by contributions from
the developers, matched with government contributions. Developer contributions will be employed to construct the
$80 million MD4 / Westphalia interchange and the $40 million Westphalia Central Park. Prince George’s County
and the Federal Government will match the developer contributions and provide funding for the $157 million cost
MD4 / Suitland Parkway interchange.
Smith Home Farm
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Construction Financing Request
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EXHIBIT A: REPRESENTATIVE BUILDER PRODUCT
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Ryland Product
Westphalia Sector is the last remaining large-scale developable property along the I-495 Capital Beltway, thus
presenting a unique investment opportunity. Most suburban areas within the vicinity of the Beltway have already
been built out, and are transacted at a much higher price point. The large-scale and comprehensive Sector Plan will
also create a strong sense of place, while providing competitive housing options for commuters to Washington DC
and Maryland suburbs.
EXHIBIT A: REPRESENTATIVE BUILDER PRODUCT
Smith Home Farm
Construction Financing Request
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Ryland Product
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Page 6 of 12
Home builders purchase the improved lots to build single family homes and townhouses. Home builders, Dan Ryan, Ryland and Mid Atlantic are already under contract
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to purchase a total of 312 lots from Phase 1. Another 127 lots from Phase 2 and 155 lots from Phase 3 are under contract21tofo 7be
purchased by Stanley Martin.
Midwest Executive Offices:
7819 42nd St. West, Rock Island, IL 61201
Email: [email protected]
Page 6 of 12
21 fo 7 egaP
Telephone: 309-797-1550
Facsimile: 855-852-5133
www.cmbeb5visa.com
Collaboration Partners
Woodridge Capital Partners, LLC (WCP) is a diversified real estate company developing residential, industrial,
mixed-use and commercial assets throughout the United States, including California, Arizona, Nevada, Texas,
Hawaii, and Canada. Headquartered in Los Angeles, California, Woodridge also provides financial, management
and consulting services to the real estate industry and over the past 25 years has become one of the most wellknown and respected firms in North America.
Michael B. Rosenfeld, founder and President of Woodridge Capital Partners, LLC, has been active in the
property investment and development industry for almost three decades. Mr. Rosenfeld enjoys extensive
relationships throughout the financing and investment communities and has working relationships with a number
of America’s largest and most prominent investment funds. Recently, Mr. Rosenfeld received the Single Asset
Transaction of the Year Award by the Americas Lodging Investment Summit and was selected as one of Builder
& Developer Magazine’s “Who’s Who in Home Building”.
To date, Woodridge has concluded over 2.5 million square feet of commercial and industrial developments
as well as residential developments in excess of 8,700 units. In addition, Woodridge is the owner of many
prominent properties throughout the US, most notably the historic Fairmont Hotel in San Francisco, California.
The Fairmont, originally opened in 1907, has hosted U.S Presidents, foreign dignitaries and top entertainers and
celebrities and has received numerous accolades including
Travel & Leisure’s “World’s Best Hotels”, AAA FourDiamond Award, and Condé Nast Traveler’s “Best in the
World.” Furthermore, Woodridge is the owner and developer
of the future Century Plaza (currently the Hyatt Regency
Century Plaza Hotel) project in Los Angeles, California, a
1.5 million square foot mixed-use development that will be
redeveloped to bring incredible value and innovation to the
Los Angeles community.
Mr. Rosenfeld has grown WCP to become one of the top
developers, owners and manager of real estate assets. He is
also an owner and director of a private utility company that
provides distribution of electricity, gas, telecommunications,
and other services to municipalities throughout the country.
Woodridge Capital Partners is the owner
of many prominent properties throughout the U.S., most notably
the Fairmont hotel in San Francisco, California, the Century
Plaza in Los Angles, California and the Fairmont Orchid in
Hawaii.
Disclaimer: THIS IS NOT AN OFFER TO SELL SECURITIES OR THE SOLICITATION OF AN OFFER TO PURCHASE SECURITIES. ANY OFFER OF SECURITIES IN ANY SPONSORED
INVESTMENT MAY ONLY BE MADE PURSUANT TO A WRITTEN OFFERING MEMORANDUM AND ANY SALE OF SECURITIES IN SUCH FUND SHALL BE EVIDENCED BY A SUBSCRIPTION
AGREEMENT EXECUTED BY THE POTENTIAL INVESTOR. THE UNITS WILL BE OFFERED AND SOLD (i) OUTSIDE OF THE UNITED STATES IN RELIANCE ON REGULATION S UNDER THE
SECURITIES ACT AND (ii) INSIDE THE UNITED STATES UNDER THE EXEMPTION FROM REGISTRATION PROVIDED BY SECTION 4(2) OF THE SECURITIES ACT AND REGULATION D
PROMULGATED THEREUNDER AND OTHER EXEMPTIONS OF SIMILAR IMPORT PURSUANT TO THE LAWS OF THE STATES AND JURISDICTIONS WHERE THE OFFERING WILL BE MADE.
NO OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY UNITS MAY BE MADE IN ANY JURISDICTION IN WHICH, OR TO ANY PERSON TO WHOM, IT IS UNLAWFUL TO MAKE SUCH AN
OFFER OR SALE.