Projects Currently Owned and Developed by Legacy Development 2014

We have over 100,000,000 of assets owned. Our typical investment features an 8% current pay preferred return with an 11%-15% IRR on the exit.  Our last four full cycle deals have averaged over 20% IRR.

GreatLIFE Woodlake Athletic Club

This project was completed in the summer of 2015. A 30,000 square foot addition and remodel to the existing space has turned the club into the premier fitness center in the Sioux Falls area. This property includes: 8,000 sq. ft. of fitness space, Indoor pool and Jacuzzi, Hot yoga studio, Juice bar & food on-the-go, New women’s locker room, Orthopedic Institute and Sioux Falls Specialty Hospital Clinics, and Expanded childcare space.

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Investor Return

8% cash on cash return: yielding approximately 12-13%

Judee Estates

This project began in the Spring of 2014 and is currently in development. The project consists of 14, 4-Plex Multi-Family buildings for a total of 56 units. Each unit is 3 bedroom with 2 baths and a single garage. Phase I consisted of 4 building which were 100% leased prior to finish at the end of September 2014. Phase II was completed in spring 2015. The third and final phase is expected to be complete in fall of 2015. This project is located near 69th and Cliff Ave S.

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Investor Return

8% cash on cash return Projected exit: 5-7 years yielding approx. 13% IRR

Dakota Lofts

This project was completed in November of 2013. It is a 4 story building with underground parking that consists of 40 upper end loft apartments with the possibility of condos on the top floor. All units are currently leased.

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Investor Return

8% cash on cash return. Projected exit: 5-7 years, yielding a 12-13% IRR

Phillips Ave Lofts

This project is a co-developed project with Lloyd Companies and is 86 up-scale lofts with 5,000 sqft of commercial space. We completed the project August 1, 2014 and is located near beautiful Falls Park.

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Investor Return

8%

Estates At The Willows Arbors Edge

In December of 2013 we acquired the balance of the developed and undeveloped lots in Arbor's Edge Development in Sioux Falls SD. We partnered with the owner of adjoining golf course and founder of Great Life Tom Walsh. We are excited about the opportunities that collectively we can offer the residents of this development given the proximity to Willow Run Golf course and Great Life Fitness and Golf. Arbor's Edge Website: www.arborsedge.com

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Investor Return

No Outside Investors

Historic Security National Bank Building

We acquired the building as an underperforming asset from another entity. The 7 story building consists of 13 high end loft apartments with underground parking and about 30,000 of office/retail space. The lofts have never had a vacancy since opening in 2007 but the building had struggled with retail/office tenancy. Since our acquisition we have filled the remaining office/retail space (about 8,000 sq. ft.).

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Investor Return

8%

Crawfords

This asset consists of a 15,000 square foot building in the heart of downtown Sioux Falls. It is leased to a very successful restaurant and bar. There are 10 years remaining on the lease.

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Investor Return

9%

Uptown Exchange Building Lofts

This is a brand new 4 story building with underground parking. It consists of 37 lofts apartments and 3,000 square feet of office/retail space. We opened the building March 1, 2013 we currently have 37 of the 37 lofts leased. We co-developed this property with Lloyd Companies.

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Investor Return

No Outside Investors

Phillips Development (Tri State Creamery)

This is a historic building that we renovated utilizing Historic Credits and TIF financing. There is about 15,000 square feet of office and retail space that is 95% leased. This was also co-developed with Lloyd Companies and we have no outside investors.

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Investor Return

No Outside Investors

Larson Hardware Building

This property was originally built in the early 1900’s and we renovated the building to include 1 floor of underground parking, 12,000 square feet of retail office space and two floors of loft apartments. The building has averaged over 98% occupancy. This project was co- developed with Lloyd Companies and we have no outside investors.

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Investor Return

No Outside Investors