Haven Capital's Distinctive Approach
Strategic Flexibility
Multiple repurchase options throughout the lease term.
Predictable Rent Increases
Fixed 2% annual rent increases with periodic CPI adjustments.
Accounting Advantages
Capital Efficiency
Reduced equity requirements and enhanced returns.
What is a Ground Lease
Innovative Real Estate Financing
A Haven ground lease allows for a sale of the underlying land to be used as a form of financing or liquidity. Haven has rewritten the rules of what was once a cumbersome tool of wealth preservation to now act as a flexible, ultra-efficient form of real estate financing.
Operational Framework
The implementation of a Haven Capital ground lease follows a straightforward process:
1.
Haven acquires the fee interest from property owner as part of an acquisition, recapitalization or development.
2.
Property owner enters into a ground lease agreement with Haven Capital.
3.
Property owner retains ownership of improvements and operational control.
4.
Property continues normal operations with an optimized capital structure.
Haven Ground Lease Programs
Haven has two distinct ground lease programs that are outlined below:
Capacity
Target Deal Size (Pre-Split)
Target Asset Classes
Target Property Description
Spread to 30-YR Treasury
Implied Initial Yield (1)
LTV Range
Annual Rent Increases
CPI Lookbacks
Repurchase Options
Prepayable Ground Lease
Capacity
$1.0B
Target Deal Size (Pre-Split)
$20M - $500M+
Target Asset Class
Affordable and Market Rate Multifamily (Existing & Development), Student Housing, Office, Hotel, Grocery Anchored Retail and Logistics
Target Property Description
Class A and B+ assets in primary and secondary markets
Spread to 30-YR Treasury
25-125bps
Implied Initial Yield (1)
4.30-5.30%
LTV Range
35-45%
Annual Rent Increases
2.00%
CPI Lookbacks
Every 10 Years (Capped at a 3.50% GAGR)
Repurchase Options
Years 20, 30, 99
1. Pricing based on 30-Yr Treasury of 4.05% (as of 10/1/2024).