Case Study - Riverhouse Hotel

Riverhouse Hotel

Property Type	Hotel
Property Location	Bend, OR

Capitalization ($mm)	$44.7mm
Investment Status	Unrealized

Background

221-room unbranded full service hotel and 53,000 square feet of stateof-the-art convention facilities.
Located along the picturesque Deschutes River in Bend, OR.
Acquired in March 2015 for $32.4mm.
Acquisition included 3.0-acres of excess land along the Deschutes River entitled for up to 51 hotel or commercial units.
Business plan to complete a top-to-bottom guest room and public space renovation to mirror the quality of the recently completed convention facilities, and increase market penetration through improved sales and marketing.

Investment Highlights

Completed $10.1mm renovation program including fully renovating all guest rooms, and relocating and expanding the lobby, restaurant and bar/lounge.
Overhauled the sale and marketing team and reservation process to improve hotel performance and positioning
Adding a full service spa to further amenitize the hotel.

Property investment was completed by an affiliate of the Sponsor of 1st Streit Office, Inc. as part of one of its prior programs, and is not included in the current offering of 1st Streit Office, Inc. For more information, please refer to to the Offering Circular at streitwise.com/oc. All information as of 1/15/20.

SW Manager, LLC (“Manager”) is a wholly-owned subsidiary of and controlled by Tryperion Partners, LLC (our “Sponsor”). Manager is the external manager and advisor of 1st Streit Office Inc. (“1st Streit Office”) and 1st Streit Office Operating Partnership LP (our “Operating Partnership” and, together with 1st Streit Office, “Our Current Offering”). 1st Streit Office is the sole general partner of our Operating Partnership, through which all of our assets will be owned and substantially all of our operations will be conducted. All references herein to “Streitwise” refer, as applicable, to Manager, 1st Streit Office, the Operating Partnership, or any of their affiliates (collectively, the “Streitwise Entities”). Unless explicitly stated to the contrary, all references to “we,” “us,” and/or “our” shall refer to the Streitwise Entities. By using Streitwise, you accept our Terms of Service and Privacy Policy.

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Performance: Past performance is not a guarantee of future results. All historical returns, target returns, or hypothetical projections may not reflect actual future performance.
Risk disclosure: This investment involves a certain level of risk and may result in partial or total loss. We cannot guarantee that we will reach our target return for our investors.
Tax disclosure: Prospective investors should confer with their tax advisors regarding the tax consequences based on their particular circumstances. Neither Streitwise nor any Solicitor assumes responsibility for the tax consequences for any investor.

¹ Dividends & returns: Current annualized dividend based on the most recent dividend declaration as of the quarter ending 12/31/2021 and based on the Streitwise initial offering price of $10.00/share. See Quarterly Report for all returns history.
² Source: FTSE NAREIT All Equity REITs vs S&P 500.
³Sponsor Performance: Reflects gross IRR on realized investments in the Sponsor’s investment portfolio since inception.
⁴Target returns: We will seek to invest in real properties and other real estate-related assets that we believe can produce a ~10% return through a combination of cash flow and appreciation. We cannot guarantee that we will reach this target return for our investors.

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