Bright Beginnings Preschool Portfolio

Under Development

Multiple — 6 sites · Tampa Bay, FL · Preschool · Dragonfly Value-Add Fund II

Value

$21.0M

Basis

$18.5M

NOI

$1.5M

Occupancy

100%

Debt

$11.0M

Cap rate

7.0%

Business plan

Six build-to-suit preschools on 20-yr NNN corporate lease. Four operating, two under construction. Portfolio sale/refi on full delivery.

Strategy

Build-to-suit NNN development

Hold period

10 yrs (NNN)

Acquired

Jan 19, 2025

Square footage

66,000 SF

Asset manager

A. Reyes

Lender

First Horizon

Sale40/100

Refinance58/100

Blocking readiness