Property Company Investment

A newly formed entity for the planned acquisition of a commercial building within Blacksburg VA.

Being offered by
Draper Provisions & The Library Café (and affiliated entities)

The Company has secured the rights to acquire the land and building currently being leased by Draper Provisions and The Library Cafe, Inc., which is a new entity started by entrepreneurs John Boyer and Katie Pritchard.

• John and Katie are the founders and owners of the Blacksburg, Va based Blacksburg Wine Lab,Inc. They are experienced in starting and operating food and beverage ventures.

Draper Purveyors, LLC (the “Company”) is planned to be a real estate owner that leases the Property to the tenant, Draper Provisions and The Library Cafe, Inc. venture (“OpCo”).

The Company has also finalized the construction and improvement plans, secured the entitlements and now is initiating improvements to the building and surrounding property. The property located within the south main street area of Blacksburg VA on Draper road (the “Property”)

The above is referred to as (the “Project”).

Current Status:

  • The principals are seeking to secure equity to co-invest with themselves. They are also working on

    securing the senior debt from a lender.

  • The Project work is now being initiated with the building construction to occur thereafter.

  • It is anticipated development and construction will last approximately 6 months.

Opportunity

 The planned acquisition of a commercial building in downtown Blacksburg, Va – home of Draper Provisions & The Library Café, Inc. (“Draper Provisions”) ventures that is nearing opening.

  • Draper Provisions is the creation and new venture of entrepreneurs John Boyer and Katie Pritchard, founders and owners of the established Blacksburg Wine Lab, Inc. also located in Blacksburg.

 Commercial building located in downtown Blacksburg, VA

  • Contains approximately 5,570 s.f. plus outdoor space for outdoor seating and parking

  The building is currently leased by Draper Provisions; however, Draper Provisions (or affiliates) has the right to acquire the building. The plan is to acquire the property via a new special use entity, named Draper Purveyors, LLC. Draper Provisions would remain a tenant of the property.

  Opportunity to co-invest with the sponsor (principals of the “Draper Provisions”)

  Opportunity for potential returns on investment via:

  1. cash flows;

  2. capital appreciation;

  3. re-finance / re-capitalization proceeds, potential future sale; and,

  4. Potential tax benefits from operations (depreciation).

Summary of Planned Sources and Uses

Uses of Proceeds:

The Company shall use the proceeds for planned acquisition of the property and building, start- up costs, operating capital, capital expenditures for property improvements and other general corporate needs.

Sources of Capital:

The Company plans to utilize a combination of a Sr. bank loan and equity capital to capital needs.

  • Bank Debt – the process is underway, however final terms are pending

  • Equity – the principals plan to secure investors to co-invest with them. See the TERM SHEET for more details.