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Brighton Crossing Scenario: In December 2 0 1 2 King Soopers ( Dillon Companies, Inc. ) purchased from S 3 L Holdings, LLC a parcel
Brighton Crossing Scenario: In December King Soopers Dillon Companies, Inc. purchased from SL Holdings, LLC a parcel of land ac ml located at the NEC of Bridge Street Highway and th Street Himalaya Street The property is located in Brighton, Colorado, Adams County. Pertinent Information: King Soopers will selfdevelop the property; construct all on and offsite improvements improvements to the land at a cost of $M; sell Outlots ; Lot fuel center was transferred to the Kroger fuel division at a price of $K; and retain ownership of Lot as an attached sf inline retail. King Soopers negotiated and received a Tax Incremental Financing Agreement TIF with the City of Brighton in the amount of $M Lastly, the purchasers of Lots will reimburse King Soopers $M for site improvement costs. Assignment: Answer the following questions: What was the purchase price Dillon Companies paid for the property? What was the Document Fee to record the deed? Dillon Companies has to date sold each of the outlots. What was the purchase price for each Lot? FirstBank $ Confluent Development Starbucks $ Brighton Covenant Group PacDental $ FCAC Firestone $ Transfer fuel pad to Kroger Fuel $ Pertaining to the Lot strip center: assume rents at $ psf and a Cap Rate of what is the market value of the strip center? What was the total capital invested in the development? Evaluate this real estate development in terms of capital invested, the sales of all the outlots, the market value of Lot strip center site improvements reimbursements and the TIF. Keep this simple show as a simple cash flow sheet. Lots Sold: FirstBank: $ Starbucks: $ PacDental: $ Firestone: $ Kroger Fuel: $ Total of Lots Sold: $ Market Value of Strip Center: $ Site improvements reimbursements: $ TIF: $ Total Gross Value in Dollars: $ Capital Invested: Land Purchase: $ Sie Improvements costs: $ Total Capital Invested: $ Real Estate Value Realized: $ Notes: In order to complete this assignment, you will have to access the Adams County assessors website and the Adams County Clerk and Recorders website. From the Assessors home page, click on Maps & Data. At the end of Assessors Data paragraph, click on Downloadable GIS Data. Page down and click on Advanced Map. On the map, click on I Want To Then click Search by Intersection. Input Bridge Street followed by th Ave. It now takes you to a map. Zoom out so you can see the intersection. The subject property is the northeast corner. Now find the sales price for five properties. Click on the pad site with on it Click on Property Report. Find the sales price under Sales Summary. This lot purchased by FirstBank from Dillon Companies is Lot Lot and are next to Lot along Bridge Street. The fourth lot on Bridge is Lot transferred to Dillon Fuel Division as stated in the lead paragraph. Find the sales price for Lots and as you did Lot Now, the hard one. Lot is identified as on the map. It is the larger of the parcels. Click on it Click on Property Report; click on Sales Summary; click on the link to the clerkrecorders page; click on Name; enter Grantee; starts with Dillon; document category: Deeds; enter as your starting date. Click Submit Page down to the roster of docs. See the deed from SL Holdings to Dillon Companies? Click on it The answers to questions and are now visible. The transaction price is easy...can you see the Doc Fee?
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