CURRENT PORTFOLIO

PARKIT CURRENTLY OWNS ASSETS WITH SEVERAL JOINT VENTURE PARTNERS, INCLUDING OCH-ZIFF REAL ESTATE, AND PROPARK AMERICA.

BREAKDOWN

Parkit owns an indirect 24.39% equity interest in OP Holdings JV LLC, which IN TURN owns: Z-Parking Off-Airport Parking, The Riccio Lot, The Chapel Square Lot, Canopy Off-Airport Parking. Parkit also owns an indirect 50% equity interest in Nashville Fly-Away Airport Parking.

  • AGGREGATE PURCHASE PRICES $57.5 M
  • VALUE $64.1 M
  • CY 2017 REVENUE $13.99M
  • CY 2017 NET OPERATING INCOME $4.68M
  • CAP RATE ON TOTAL COST 8.1%

FIGURES IN USD. BASED ON OWNERSHIP OF THE FIVE ASSETS CURRENTLY OWNED – CANOPY, EXPRESSO, Z PARK, CHAPEL, RICCIO AND NASHVILLE FLY AWAY PARKING.

  • Canopy Airport Parking
  • Canopy Airport Parking
  • Canopy Airport Parking
  • Canopy Airport Parking
  • Canopy Airport Parking
DENVER, COLORADO

CANOPY AIRPORT PARKING FACILITY

  • Services Denver International Airport
  • Developed by Parkit and its partners for a total cost of CAD $18.0M in 2010.
  • Sold to the OP Holdings JV LLC for CAD $27.1 million (plus contingent earn-outs) in April 2015
  • Owned by OP Holdings JV LLC in which Parkit owns an indirect 24.39% equity interest
  • Land lease expires in 2035
  • 4,200 Stalls
  • Refinanced in 2017 for an appraised value of USD $37.6M
  • 2017 Revenue of USD $8.9M
  • 2017 NOI of USD $ 3.49M
NEW HAVEN, CONNECTICUT

RICCIO LOT HOSPITAL PARKING

  • Services the Smilow Cancer Hospital and the Yale New Haven Children's Hospital
  • Acquired by OP Holdings JV for USD $4.3M in 2015
  • Refinanced in 2017 at an appraised value of USD $4.5M
  • Achieved 2017 NOI of $298K representing a 6.9% cap rate on initial cost
  • Property owned by OP Holdings JV LLC in which Parkit owns an indirect 24.39% equity interest.
  • Riccio Lot Hospital Parking
  • Riccio Lot Hospital Parking
  • Chapel Square Lot
  • Chapel Square Lot
  • Chapel Square Lot
NEW HAVEN, CONNECTICUT

CHAPEL SQUARE LOT

  • 2017 Revenue of USD $1.1M
  • 2017 NOI of USD $570,207
  • Acquired by OP Holdings JV in 2015 for $10.5M
  • Refinanced in 2017 at an appraised value of $10.5M
  • Property owned by OP Holdings JV LLC in which Parkit owns an indirect 24.39% equity interest.
EAST GRANBY, CONNECTICUT

Z-PARKING

  • 2017 Revenue of USD $1.4M
  • 2017 NOI of USD $217,264
  • Refinanced in 2017 for an appraised value of USD $3.5M
  • Purchased by OP Holdings JV LLC in 2015 for $4.0M
  • Property owned by OP Holdings JV LLC in which Parkit owns an indirect 24.39% equity interest.
  • z-parking
  • z-parking
  • z-parking
  • z-parking
  • Nashville Flyaway Parking
  • Nashville Flyaway Parking
  • Nashville Flyaway Parking
  • Nashville Flyaway Parking
NASHVILLE, TENNESSEE

NASHVILLE FLY-AWAY AIRPORT PARKING

  • Purchased in 2015 for USD $7.8M
  • 2017 Revenue of USD $2.2M
  • 2017 NOI of USD $104,495
  • 2018 Appraised Value of USD $7.85M based on income capitalization approach, USD $8.89M based on sales comparison approach.
  • Parkit holds an indirect 50% interest in the property