Lodestar is your portfolio management navigator. The platform is built from the
unit-level up.
Leases and tenants are the foundation for the whole model.
Lodestar separates renovation premiums from market-driven rent
movement to calculate return on investment for every dollar spent.
| Component | Cost | Target Premium/Mo |
|---|---|---|
| Stainless steel appliances | $5,324 | $58/mo |
| Hardwood flooring | $5,131 | $61/mo |
| Countertops | $2,964 | $50/mo |
| Cabinet finishes | $2,995 | $48/mo |
| Doors and hardware | $1,074 | $18/mo |
| Overhead lighting | $412 | $8/mo |
| Total | $17,900 | $243/mo |
Lodestar helps you understand who your tenants are so that you can correctly invest
in what your residents want and need at this stage of their life and career.
Lodestar centralizes operational, financial, and investment analytics into a unified command center
so you
can assess problems and assign solutions with speed and accuracy.
No more looking through fragmented Excel files to view valuation data and investment
analytics.
Just click on your property and find any detail you're looking for.
Lodestar's loan management system allows owners to easily track loan expirations, covenant
performance,
and refinance options at the asset-level and across the entire portfolio.
| Terms | Current Financing | Future Financing | ||
|---|---|---|---|---|
| Origination / Refinance Date | Dec 2016 | Dec 2026 | ||
| Maturity Date | Dec 2026 | Dec 2031 | ||
| Term Length (Yrs) | 10.0 | 5.0 | ||
| Instrument | Agency | Agency | ||
| Lender | Freddie Mac | Freddie Mac | ||
| Rate Type | Fixed | Fixed | ||
| Amortization | Full Term IO | Full Term IO | ||
| By Year | Base Case | 100 BPS Treasury Spike | Delta | |
| Loan Balance (Mil.) | $72.1M | $81.1M | $75.6M | -$5.5M |
| All-In Rate | 3.65% | 5.60% | 6.60% | +100 bps |
| LTV | 57.8% | 65.0% | 60.6% | -4.4 pts |
| DSCR | 2.37x | 1.37x | 1.25x | -0.12x |
| Debt Yield | 8.7% | 7.7% | 8.3% | +0.6 pts |
| Net Debt / NOI | 11.6x | 13.0x | 12.1x | -0.9x |
| Interest Expense (Mo.) | $219K | $379K | $416K | +$37K |
| Cash To / From Equity | - | $8.2M proceeds out | $2.7M proceeds out | -$5.5M |
Lodestar's demographic research metrics goes beyond the back-of-the-envelope
zip, county,
and metro stats much of the industry still relies on.
Lodestar's proprietary First-Time Homebuyer Series looks at actual mortgage data
to show what
properties in the area first-time homebuyers are really purchasing.
| Tenant | FTHB | |
|---|---|---|
| Income | $8,667 | $14,200 |
| Cost | $2,462 | $5,500 |
| Cost to Income | 28.4% | 38.7% |
See how your assets and portfolio respond to market, financing, and
macroeconomic scenarios of your choosing.
| Selected Year | Annual Average Rate | |||||
|---|---|---|---|---|---|---|
| Growth Rates | Base Case | Tech Correction | Delta | Base Case | Tech Correction | Delta |
| Rent | 3.2% | 2.6% | -0.6 pts | 3.1% | 1.4% | -1.7 pts |
| Revenue | 3.4% | 2.8% | -0.6 pts | 3.3% | 1.2% | -2.1 pts |
| OpEx | 2.9% | 2.9% | 0 | 2.9% | 3.0% | +0.1 pts |
| NOI | 3.7% | 2.7% | -1.0 pts | 3.6% | 0.1% | -3.5 pts |
| CapEx | 2.0% | 2.0% | 0 | 2.0% | 2.4% | +0.4 pts |
| Values and Returns | Base Case | Tech Correction | Delta |
|---|---|---|---|
| Exit Cap Rate | 5.00% | 5.50% | +50 bps |
| Net IRR | 11.4% | 7.9% | -3.5 pts |
| Gross IRR | 14.2% | 10.1% | -4.1 pts |
| GP Earnings (Mil.) | $18.6 | $7.4 | -$11.2M |
| NAV (Mil.) | $486 | $352 | -$134M |
| GAV (Mil.) | $858 | $724 | -$134M |
Quickly and accurately assess base case and scenario impacts to fund reserves, debt coverage,
and distribution waterfalls, priced through your actual loan terms and LPA structure.
| Base Case | Sunbelt Recovery | Delta | |
|---|---|---|---|
| Distributions | |||
| Distributable Proceeds | $3,600M | $3,850M | +$250M |
| Return of Capital | $1,850M | $1,850M | 0 |
| Preferred Return Paid | $868.0M | $868.0M | 0 |
| Unpaid Pref Accrual | - | - | 0 |
| Promote | |||
| GP Catch-up | $289.0M | $289.0M | 0 |
| Tier 1 Promote (80% / 20%) | $60.8M | $100.2M | +$39.4M |
| Tier 2 Promote (70% / 30%) | - | $15.9M | +$15.9M |
| Total Promote | $349.8M | $405.1M | +$55.3M |
| Promote in Escrow (25%) | $87.5M | $101.3M | +$13.8M |
| LP Outcome | |||
| LP Net Distributions | $3,250M | $3,445M | +$195M |
| LP Net Equity Multiple | 1.76x | 1.86x | +0.10x |
| LP Net IRR | 12.0% | 13.2% | +1.2 pts |
| Fees | |||
| AM Fees (1.5%, Gross) | $194.3M | $194.3M | 0 |
| PM Fees (3% of EGI) | $108.6M | $113.0M | +$4.4M |
| Fee Offset Credit (50% of PM) | -$54.3M | -$56.5M | -$2.2M |
| Net Fees | $248.6M | $250.8M | +$2.2M |
| GP Total | |||
| Total GP Earnings | $598.4M | $655.9M | +$57.5M |
| Waterfall Tier Reached | Tier 1 | Tier 2 | |
Lodestar's AI agent, Magellan, is an expert in triaging and proposing solutions to property and fund questions. He is trained to always point you back to the exact data that supports his answer.
If you don't want to export data into a separate platform, Lodestar offers an in-database AI service, where Magellan can run within your own database. To maximize your company's security and privacy, your data continues to live within a closed-circuit server to ensure maximum data privacy and is never exposed to external models or servers for training.
Lodestar's asset and fund modeling suite "Polaris" analyzes alternative business plans, exit strategies, and market rent growth scenarios. The model is easy for anyone to use, but Magellan is always there to help you set up scenarios.
Combining asset and market scenarios together to model how world events impact your fund income, returns, and reserves. Set up the scenario asset by asset, or talk to Magellan to configure a fund-wide scenario at one go.
Lodestar is your Portfolio Management Navigator.
We'd love to talk with you.
Schedule a demo today →