Noyack Logistics Income REIT 1 (NREIT1)
“Last mile” is the holy grail of logistics. It is the most valuable service, the most in demand and it commands the highest premium in rent.
NREIT1 is a non-traded public REIT uniquely devoted to last mile logistics.
Advantages of Non-Traded REITS?
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Reasons to invest in NREIT1
Distributions of 1.5% – 2.0% per quarter
Return performance comparison of NREIT1
(Cumulative % net of fees, assumes dividend reinvestment)¹
- Fund
- Noyack Logistics Income REIT
- Origin IncomePlus Fund³
- Blackstone Real Estate Income Trust³
- Nuveen Global Cities REIT³
- Ares Real Estate Income Trust³
- Starwood Real Estate Income Trust³
- Fundrise Real Estate Interval Fund
¹Performance data provided on each third-party issuer’s website and covers the same period through December 31, 2023. NOYACK has not separately verified accuracy of the performance data with each third-party issuer. Actual individual investor performance may differ based on share class; past performance is historical and not a guarantee of future results.
²The year-to-date net return is as of December 31, 2023, and reflects each monthly total net return from January 2023 through December 2023. The monthly total net return is calculated by adding the aggregate dividends paid, assuming amounts are reinvested, and appreciation in net asset value. All returns are net of fees.
³Represents Class T/S Shares with Sales Charges for each respective Fund/REIT.
Innovative Investment Thesis
Only REIT to focus on micro-fulfillment, aka ‘the last mile’
Introducing Mobility Hubs™
Imagine a ‘layer cake of logistics’ – NREIT redevelops parking garages into last-mile
fulfillment depots. Includes landing pads for eVTOLS
Diversification
NREIT invests in 4 diversified asset types that supply goods or services to American supply chains.
Cold Storage
Pharma
Food processing
Perishables storage
Warehouses
Dry goods storage
Mobility Hubs™
Micro-fulfillment depots
Healthcare
Medical Office Buildings
R & D Labs
Key Offering Terms
- Offering$100MM Common Stock | $25MM Preferred Stock
- Target IRR (Net)18 - 20% Internal Rate of Return (IRR)
- Annual Dividend6% Targeted Per Annum | Priority to Preferred Stockholders
- Investment StrategyNREIT1 invests in a diversified portfolio of U.S. supply chain and logistics infrastructure.
- Portfolio Construction50% low-beta, stabilized assets and 50% value-add opportunities
- Investment Period5 - 7 years
- Optimal Leverage65% of total portfolio asset value (No cross-collateralization)
- Management Fee0.75% of Net Asset Value (NAV)
- Preferred Return (Hurdle)15% IRR
- Performance IncentiveInvestors receive 100% return of capital and a minimum 15% IRR
- Minimum Subscription$200,000 Preferred Stock | $20,000 Common Stock
- Independent AccountantCitrin Cooperman
- Citrin CoopermanWinston & Strawn LLP
Past performance is provided for representative purposes only and may not be indicative of future investment results. There can be no assurance that NOYACK and NOYACK Logistics Income REIT I, Inc. will achieve comparable results, be able to implement its investment strategy or be able to avoid losses. See PPM for complete investment details and Manager compensation.
Noyack Capital managers have over
$10 million personally invested
We have our personal capital at risk alongside yours to prove our commitment. Our ‘skin in the game’
6%Target Annual Dividend
15%Preferred Return (IRR)*
0%Development Fee
0%Acquisition Fee
0%Distribution Fee
*Preferred Return is paid to shareholders before the Sponsor receives any performance incentives.
Tax Efficient
REITs have the potential to be relatively tax-efficient investments.
Return of Capital (ROC)A portion of the REIT’s quarterly distributions are expected to be characterized as a return of capital, which is not subject to tax.
20% REIT Tax ReductionThe Tax Cuts and Jobs Act of 2017 allows investors to deduct up to 20% of ordinary REIT dividends from their taxable income for federal income tax purposes.
Simple Tax ReportingOur investors get the benefit of a single Form 1099-DIV sent annually for efficient tax filing.
Proprietary Underwriting Algorithms*
- PropertyQuotients™ are constructed for each asset type
- Accounting for market conditions, property characteristics, and macroeconomic trends, every asset is scored from 0-100
- Investments are triggered by predefined criteria giving NREIT a systematic advantage in sourcing and disposition
*See PPM and Offering Circular for methodology and algorithm details. There can be no assurance that NOYACK and Noyack Logistics Income REIT, Inc. will be able to implement its investment strategy or be able to avoid losses.
Investment Cycle
Sourcing
- Leveraging UPREIT Exchange Program to source assets¹ from our family office network
- Expanding our historical efforts, providing forward commitments to large developers in return for discounted pricing
Diligence
- PropertyQuotient™, our weighted algorithm, to score and rank assets¹
- Using our MarketQuotient™, our proprietary algorithm, to assess target regions¹
- Quality over quantity
Redevelopment
Reposition assets into higher revenue-producing Mobility Hubs™ for multiple last-mile logistics needs
Disposition
Potential portfolio disposition to institutional partners
We intend to dispose of assets when the future value of supply chain infrastructure is fully priced
¹ See Confidential Private Placement Memorandum for methodology and algorithm details. There can be no assurance that NOYACK and Noyack Logistics Income REIT I, Inc. will be able to implement its investment strategy or be able to avoid losses.
A Closer Look at our Mobility Hubs™
Our unique focus on last mile logistics led us to innovate a concept we call Mobility Hubs™.
Think of a “layer cake of logistics,” greatly enhancing the existing parking revenue with storage, EV fleet charging, cold pods and even vertipads for EVTOLs on the roofs. We believe this vision for repurposing large, strategically located, and underutilized urban garages to meet the demands of eCommerce and same-day delivery will create an entire new commercial real estate subclass re-categorizing our inexpensive parking facilities into high demand industrial assets.
Case Study: Columbus Mobility Hub™
Adjacent to the 150-room Marriott Autograph Collection hotel, Leveque Residences, and LVQ apartments, Leveque Garage is ideal for commuters to downtown Columbus. The property is located within two blocks of five office buildings, as well as the Ohio Statehouse, Columbus City Hall, City of Columbus Police Headquarters, and the United States District Court.
By the Numbers
Year acquired: 2017
Square footage: 352,000 SF
Purchase price: $35MM
Asset value: $47MM¹
Debt: $30MM (64% LTV)²
Interest Rate: 4.00%²
Remaining Loan Term: 4.5 years²
1. Cushman & Wakefield Asset Allocation Report dated June 27, 2022. Date of Fair Value: June 30, 2022. 2. As of June 30, 2024. 3. Key investment drivers are Manager’s opinion of the market.
Why We Invested³
Opportunity to reposition as Mobility Hub™
Attractive location
Diverse and growing economy
Catalyst for appreciation: Downtown Columbus is significantly under-parked.
1. Cushman & Wakefield Asset Allocation Report dated June 27, 2022. Date of Fair Value: June 30, 2022. 2. As of June 30, 2024. 3. Key investment drivers are Manager’s opinion of the market.
Value-Add Plan
Mobility Hub™ Opportunity: Transform this asset for last-mile logistics. It will greatly enhance the revenue with demand drivers such as: a delivery depot for Walmart and Amazon, cold storage pods for local grocers, partnerships with delivery enterprises, including DoorDash.
1. Cushman & Wakefield Asset Allocation Report dated June 27, 2022. Date of Fair Value: June 30, 2022. 2. As of June 30, 2024. 3. Key investment drivers are Manager’s opinion of the market.
Who is in charge of this fund?
CJ Follini is the Founder of NOYACK. CJ began managing the family investment portfolio at 16 years old and was fortunate to find his primary skill so early in life. His early investing success led to the creation of a large investment club with HNW families. He was the Chief Investment Officer of this group for over 30 years with a track record of 23% returns per annum.
39+Years Investing in Commercial Real Estate
4.3XAvg. MOIC for all asset classes
$2.4BValue Created
>20%Historical IRR
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