Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by...
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![Page 1: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/1.jpg)
Medical Dental BuildingSeattle, WA
Combining Historic and New Market
Tax Credits
Presented by George Petrie
![Page 2: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/2.jpg)
Master Tenant Structure Diagram
John Goodman, Non-Member Manager
GRE Medical Dental Building LLC100% Member GRE MDB Mezzanine LLC
PROPERTY OWNER
GRE 509 Olive LLC100% - Tax Credit Investor (Non Managing
Member)0% -Non-Member Manager
Federal Tax Credits Lease Payments
BOA CDE
100% Credits, Profits & Losses and Cash Flow
Tax Credit Equity
Goodman & Petrie Controlled Developer
Commercial Tenant Subleases
Incentive Management Fee
Developer Fee
DevelopmentServices
Net Profits & Losses and Cash Flow
NEW Ventures
Credits, Profits & Losses and Cash Flow
Tax Credit Equity
Rents
GRE MDB Mezzanine LLC
90% - GRE MDB Investor, LLC -Managing Member10% - GRE 509 Olive LLC - Non Managing Member
GRE MDB Investor LLC75% Member, Manager- John Goodman
25% Member - George Petrie
Equity
Equity
10% Net Profits & Losses and Cash
90% Profits & Losses and Cash Flow
![Page 3: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/3.jpg)
Sources and UsesTotal Percentage
Bank of America Permanent Loan 50,000,000 67%
TriSail Mezzanine Financing 4,310,000 6%
Federal HTC 6,260,000 8%
NMTC Equity 1,830,000 2%
Deferred Developer Fee & Equity 11,840,000 16%
Total Sources of Funds 74,240,000 100%
62,400,000
Land 13,500,000
Building 25,000,000
Hard Costs 21,290,000
Soft Costs and Financing Costs 14,450,000
Total Development Costs 74,240,000
![Page 4: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/4.jpg)
Floor Corridors Before
![Page 5: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/5.jpg)
Floor Corridors After
![Page 6: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/6.jpg)
Floor Elevator Lobby Before
![Page 7: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/7.jpg)
Floor Elevator Lobby After
![Page 8: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/8.jpg)
Main Lobby Entrance Before
![Page 9: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/9.jpg)
Main Lobby Entrance After
![Page 10: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/10.jpg)
All Star Fitness Lobby Before
![Page 11: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/11.jpg)
All Star Fitness Lobby After
![Page 12: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/12.jpg)
All Star Fitness Facility
![Page 13: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/13.jpg)
All Star Fitness Facility
![Page 14: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/14.jpg)
Wintergarden Before
![Page 15: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/15.jpg)
Wintergarden After
![Page 16: Medical Dental Building Seattle, WA Combining Historic and New Market Tax Credits Presented by George Petrie.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551481a6550346b2598b4aeb/html5/thumbnails/16.jpg)
Wintergarden After