MY TRI
Site Plan 12 Acre Mixed-Use Development Project Located within America's Largest Industrial Park.
MY TRI SUITES is a 264-unit Corporate Extended Stay Hotel project situated within a 12 acre mixed-use development located in the Tahoe Reno Industrial (“TRI”) park, a regional employment center. The development is comprised of 8 buildings totaling 264 units and a 4,000 SF community center.
The Mixed-Use Project includes a +/- 20,000 SF freestanding Child Care Center occupied by an established, multi-location operator.
Two (2) "Flex" office/warehouse buildings are also part of the development, totaling +/- 30,000 SF. A Doggy Daycare will occupy approximately 5,000 SF of the available space.
My TRI Suites Corporate Extended Stay Hotel
Each of the (8) 33-unit buildings comprising the 264-room Corporate Extended Stay Hotel includes 29 studio suites and (4) 1-bedroom suites. All units are fully furnished with kitchenettes. The hotel features state-of-the-art virtual concierge, mobile check-in, in-room interactive tablets, a 24-hour fitness center, and on-site laundry facilities.
Prime Location in a Regional Employment Center
The World’s Largest Industrial Park, Tahoe-Reno Industrial (“TRI”) Center
Industrial
TRI is home to more than 150 of the most innovative companies in the distribution and tech economies including Google's 1,200-acre data center campus, Tesla (20,000 employees and 7,000,000 sf expected at full capacity), Blockchain (67,000 acres, the largest land purchase in Nevada), Apple, Switch, Panasonic, 30,000 jobs, and billions of dollars in economic activity; a hub for manufacturing and logistics.
Ownership of Water Rights in TRI
Ownership of highly coveted water rights to allow for a 12-acre commercial development, including MY TRI Suites. Acquiring the water rights, a barrier to entry in the TRI commercial market, was a 5-year process.
Tesla Gigafactory, Nevada The World’s Highest Volume Plant for Electric Motors, Energy Storage Products, Vehicle Powertrains & Batteries
In January 2023, Tesla announced another $3.6 billion investment to employ an additional 3,000 for 2 new factories at the N. Nevada facility. Two new facilities; a 100 GWh 4680 cell factory and the first high-volume semi-factory. The investment is more than half of the current $5.4 billion investment to date since 2014, employing 11,000 and creating 17,000 local construction jobs.
- MY TRI SUITES is strategically located 2 miles from the Tesla Giga Factory.
MyTRI Extended MyTRI Suites
Stay Hotel (33 Rooms)
Financial Summary
The total project cost is $6,728,571. Class A investor capital contribution is $2,920,000. Construction loan proceeds of $3,000,000, has been allocated to the project. The Developer is contributing $808,571 in land and water rights to be used as security for the construction loan.
The site is graded and building permits are ready to be pulled to commence vertical construction by May 2024. Upon stabilization of the project in 2026, the estimated valuation is $7,688,667, assuming $147.00 ADR, $102.90 RevPAR, a 70% occupancy, $653,357 NOI and an 8.50% capitalization rate.
- Investor Capital Contribution: $2,920,000
- Investor Profit Interest: 40%
- Target Investor IRR: 17.81% - 21.71% (Year 3 - Year 7)
- Preferred Return: 6.00%
All forward-looking statements and information included herein is deemed reliable, but is not guaranteed.
