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 9/30/18.

SW Manager, LLC, dba “stREITwise,” (“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. stREITwise is not affiliated with nor related to NAREIT or its annual REITwise conference.

An offering statement regarding this offering has been filed with the SEC. The SEC has qualified that offering statement which only means that 1st stREIT Office Inc. may make sales of the securities described by that offering statement. It does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. You may obtain a copy of the offering circular that is part of that offering statement HERE. You should read the offering circular before making any investment. Our current offering is structured as a non-traded real estate investment trust, or “REIT,” under Regulation A+ of the JOBs Act.

¹ Since inception annualized dividend includes all dividends from commencement of operations of Our Current Offering through the quarter ending December 31, 2018.
² Source: FTSE NAREIT All Equity REITs vs S&P 500. Real estate has outperformed the S&P 500 with more than double the gains since 1990.
³ #1 Overall Fund Fees and Experience as rated by The Real-Estate Crowdfunding Review.
⁴ Related to investments by Sponsor as part of one of its prior programs, and not of any of the stREITwise Entities.
⁵ We will seek to invest in real properties and other real estate-related assets that we believe can produce a 10% return. Based on our Sponsor’s prior experience, we believe that we can acquire a portfolio of assets that has the ability to achieve this return for investors. However, we cannot guarantee that we will reach this target return for our investors.

Riverhouse Hotel

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