SIGNATURE/DRS FUND I
PRIVATE EQUITY FUND IREAL ESTATE
SIGNATURE/DRS FUND I
PRIVATE EQUITY FUND IREAL ESTATE
Real Estate Multifamily Rental Investment Opportunity Fund
Presented by:
Ward Katz & Jerry Miller
Co- Managing Members
Signature/DRS Fund I
7171 W. 95th St. Suite 220
Overland Park, KS 66212
Phone: 913-563-4500
Email: info@signaturedrsfunds.com
www.signaturedrsfunds.com
Ward Katz
Phone: 913-955-2904
Email: ward@signaturedrs.com
Jerry Miller
Phone: 913-563-4518
Email: jerry@signaturedrs.com
SIGNATURE / DRS FUND I
COMPANY OVERVIEW
SIGNATURE /DRS FUND I
PRIVATE EQUITY FUND I REAL ESTATE
 Signature/DRS Fund I is a joint venture between two experienced and successful real
estate firms, DRS Management & Signature Property Management, to develop and
manage Signature/DRS FUND I. The Fund will focus on acquiring, repositioning,
managing and selling multifamily properties in Kansas City, Dallas, Denver, St. Louis &
Phoenix.
 Management has over 60 years of Real Estate Investment and Management
Experience.
 DRS Management & Signature Property Management have developed, acquired and
syndicated over $175 Million in more than 25 separate real estate transactions
 DRS Management & Signature Property Management have overseen the management
of 65 apartment communities and over 9,000 units, and currently manage 15 property
communities and over 3,000 units
 The existing combined portfolio of DRS Management & Signature Property
Management consists of apartment communities, condominiums and home
associations in three states
SIGNATURE / DRS FUND I
FUND OBJECTIVE
SIGNATURE /DRS FUND I
PRIVATE EQUITY FUND I REAL ESTATE
1) Signature/DRS Fund I was formed to:
 Offer accredited investors the opportunity to participate with the sponsor of
the Fund by combining resources for the acquisition, management and sale of
a portfolio of a diverse apartment properties.
2) The offering’s goal is to provide:
 An investment structure with low font-end costs where the sponsor is
compensated only after a preferred return is distributed to investors.
3) To add value to the investment:
 Sponsors will utilize their professional management staffs to reposition the
properties through refinancing, better marketing and management or cost–
effective physical upgrades.
SIGNATURE / DRS FUND I
FUND BUSINESS MODEL
IDENTIFY
• Identify multi-family
properties where
there is a value-added
opportunity, a
distressed asset or
otherwise performing
property where the
management has an
existing presence,
market knowledge and
experience.
SIGNATURE /DRS FUND I
PRIVATE EQUITY FUND I REAL ESTATE
IMPROVE
• Improve and
reposition properties
through financing,
cost-effective physical
upgrades and
improvements in
marketing and leasing.
SELL
• Increase value,
stabilize property and
sell the property for an
anticipated profit
while providing
current income along
the way.
 The Fund will invest 100% of the equity required in a project to own a 100% interest in the project.
 The Fund will deploy a percentage of its capital in joint ventures where the Fund can control a
disproportionately larger ownership interest than the percentage share of equity invested in a particular
project.
 Utilizing a combination of these two investment platforms, the Fund believes that it will be able to greatly
leverage its investments and acquire between $35MM and $45MM in assets, thus providing diversification,
reducing risk and enhancing overall returns to the Fund.
SIGNATURE / DRS FUND I
INVESTMENT PARAMETERS
SIGNATURE /DRS FUND I
PRIVATE EQUITY FUND I REAL ESTATE
Company Philosophy

To Provide Real Estate Investors with a quality, proven real estate
investment & management company with a compelling vision.
Asset Type


Apartment Buildings
Class B & C Properties
Company Objective

To Acquire 3 properties over the next 2 years.
Asset Size in Units

100 – 250 Units per property
Asset Size in Dollars

$7.5MM - $15MM
Leverage Per Asset

70%-75%
Fund Target Return

30% IRR
Assets Location

(before fund expenses and splits)
Kansas City, Denver, Dallas, St. Louis, Phoenix
SIGNATURE / DRS FUND I
SIGNATURE /DRS FUND I
SAMPLE INVESTMENT SCENERIO
PRIVATE EQUITY FUND I REAL ESTATE
5 Year Analysis
Investment Amount
Percentage Equity Interest
$
100,000
1.43%
Cash Flow Category
Capital Contribution
Preferred Return
Return of Capital
LP/Sponsor Split
Capital Event Distribution
$
$
$
$
$
1/1/2015
(100,000)
-
Total
Cumulative Cash Returned
$
$
(100,000)
(100,000) $
IRR
Annual Return(Capital &
Income)
Multiple
12/31/2015
12/31/2016
12/31/2017
$
$
$
$
$
$
$
$
$
$
$
$
8,000 $
- $
9,259 $
-
15,236
15,236 $
16,227 $
31,463 $
17,259 $
48,723 $
18,336
67,059
$ 196,639
$ 263,697
15.2%
16.2%
17.3%
18.3%
14.4%
8,000
7,236
-
8,000
8,227
-
254%
* Past performance is not indicative of future results.
** This is a sample return and actual results may vary. See PPM for risks of Investment.
12/31/2018
12/31/2019
TOTALS
8,000 $
8,000 $
40,000
- $ 100,000 $ 100,000
10,336 $
6,398 $ 41,4568
$ 82,241 $
82,241
$ 263,697
$ 263,697
26.0%
APARTMENT CYCLES AND FUND STRATEGYSIGNATURE /DRS FUND I
THE FUND TARGET
PRIVATE EQUITY FUND I REAL ESTATE
APARTMENT CYCLES AND FUND STRATEGY
CONTINUED DEMAND and OVERSUPPLY
SIGNATURE /DRS FUND I
PRIVATE EQUITY FUND I REAL ESTATE

Much has been written and spoken about the upswing in renters who no longer view home ownership as an
investment, who want the flexibility of renting and/or cannot obtain financing for a home purchase. It is
commonly believed that rental demand for mid-market apartment product will not keep pace with supply.

With rental demand for apartments continuing to firm up, institutional investors are purchasing and developers
are building Class A apartments at a record pace. Management believes that the apartment cycle is rapidly
approaching hyper supply and that the time to purchase well located Class B/C apartments at a reasonable price is
on the horizon. Our criteria are those Class B/C properties that are ripe for repositioning through management,
financing and/ or rehabilitation

The financing of many transactions, particularly 5-7-10 year deals will be facing maturity resulting in buying
opportunities. Sellers and commercial brokers are looking to buyers who have ample funds and borrowing
capacity to move quickly and close. The motivation for raising funds for purchase of undesignated projects but
meeting specific investment criteria is to demonstrate to the sellers and brokers that the fund can move rapidly to
contract and close and thus assure an early look at all opportunities.
U.S. Construction
of New Apartments
•
•
•
•
•
•
2001-2007
2009
2012
2013
2014
2015 (projected)
SIGNATURE /DRS FUND I
PRIVATE EQUITY FUND I REAL ESTATE
average 301,000 units/year
163,000 units
104,500 units
195,000 units
300,000 units
413,000 units
Kansas City Construction
of New Apartments
•
•
•
•
Existing inventory
Under construction and pipeline
Average annual absorption
Projected years supply
SIGNATURE /DRS FUND I
PRIVATE EQUITY FUND I REAL ESTATE
132,500 units
8,000 units
1,500 units
5.3 years
SIGNATURE / DRS FUND I
SIGNATURE /DRS FUND I
SAMPLE INVESTMENT SCENERIO
PRIVATE EQUITY FUND I REAL ESTATE
5 Year Analysis
Investment Amount
Percentage Equity Interest
$
100,000
1.43%
Cash Flow Category
Capital Contribution
Preferred Return
Return of Capital
LP/Sponsor Split
Capital Event Distribution
$
$
$
$
$
1/1/2015
(100,000)
-
Total
Cumulative Cash Returned
$
$
(100,000)
(100,000) $
IRR
Annual Return(Capital &
Income)
Multiple
12/31/2015
12/31/2016
12/31/2017
$
$
$
$
$
$
$
$
$
$
$
$
8,000 $
- $
9,259 $
-
15,236
15,236 $
16,227 $
31,463 $
17,259 $
48,723 $
18,336
67,059
$ 196,639
$ 263,697
15.2%
16.2%
17.3%
18.3%
14.4%
8,000
7,236
-
8,000
8,227
-
254%
* Past performance is not indicative of future results.
** This is a sample return and actual results may vary. See PPM for risks of Investment.
12/31/2018
12/31/2019
TOTALS
8,000 $
8,000 $
40,000
- $ 100,000 $ 100,000
10,336 $
6,398 $ 41,4568
$ 82,241 $
82,241
$ 263,697
$ 263,697
26.0%
Questions
SIGNATURE /DRS FUND I
PRIVATE EQUITY FUND I REAL ESTATE
?
SIGNATURE/DRS FUND I
PRIVATE EQUITY FUND IREAL ESTATE
Thank You For Coming!