Crest

Theiler Trust

Real Estate Portfolio

Data as of 6/30/25

REAL ESTATE PORTFOLIO

7 Properties — Personal & Business Holdings

$3.80M
Total Market Value
$2.04M
Total Debt
$1.76M
Total Equity
$1.40M
Theiler Equity
$21.2K
Monthly Payments

🏠 Personal Properties 100% Ownership

PRIMARY HOME PAID OFF ✓

1250 Chinook Drive

Kenai, AK — Home Residence

Market Value

$900,000

Mortgage

$0

Equity

$900,000

Monthly Cost

$669

Expenses: Property Tax $516/mo, Insurance $153/mo
2ND HOME

281 Skwentna Drive

Anchorage, AK — Secondary Residence

Market Value

$385,000

Mortgage

$308,000

Equity

$77,000

Rate

5.99%

Payment

$2,597

Equity: 20% LTV: 80%
Expenses: Tax $421/mo, Insurance $76/mo, HOA $150/mo, Utilities $230/mo — Total: $727/mo
INVESTMENT

4092 Lupine Drive

Kenai, AK — Rental / AirBnb Property

Market Value

$280,000

Mortgage

$215,091

Equity

$64,909

Rate

6.00%

Payment

$1,379

Equity: 23% LTV: 77%
Lender: Cook Loan | Total Costs: $2,396/mo (payment + tax + insurance + utilities)

🏢 Business Properties 50% Ownership (Red Run / Partners)

COMMERCIAL 50% OWNED

105 Trading Bay Road

Liberty Estates — Commercial Building

Market Value

$630,000

Mortgage

$304,049

Total Equity

$325,951

Your Equity

$162,976

Rate

5.15%

Payment

$2,374

Equity: 52% Lender: Northrim Bank
MANUFACTURING 50% OWNED

12516 Kenai Spur Highway

Red Run Manufacturing Facility

Market Value

$400,000

Mortgage

$78,662

Total Equity

$321,338

Your Equity

$160,669

Rate

10.00%

Payment

$2,910

Equity: 80% Lender: Leslie Loan — ⚠️ High Rate
RETAIL/CULTIVATION 50% OWNED

5455 Kenai Spur Highway

Red Run Retail & Cultivation

Market Value

$500,000

Mortgage

$466,368

Total Equity

$33,632

Your Equity

$16,816

Rate

6.00%

Payment

$5,000

Equity: 7% Lender: Roger Loan — High LTV
RETAIL/CULTIVATION 50% OWNED

K Beach Reef Property

Red Run Retail & Cultivation — Kenai Beach

Market Value

$704,364

Mortgage

$666,089

Total Equity

$38,275

Your Equity

$19,138

Rate

6.50%

Payment

$6,950

Equity: 5% Lender: Ryan Hall Loan — High LTV

💰 Cash Flow Analysis

Monthly Debt Service

K Beach Reef (Hall) $6,950
5455 Kenai Spur (Roger) $5,000
12516 Kenai Spur (Leslie) $2,910
281 Skwentna (Anchorage) $2,597
105 Trading Bay (Northrim) $2,374
4092 Lupine (Cook) $1,379
TOTAL MONTHLY $21,210

Strategic Notes

✓ Primary Home PAID OFF

$900K equity unlocked, no mortgage payment

⚠️ High Rate Alert: Leslie Loan

10% rate on Manufacturing — consider refinance

⚠️ High LTV Properties

K Beach (95% LTV), 5455 Kenai (93% LTV) — underwater risk if values drop

📊 Revenue Potential

4092 Lupine (AirBnb), Business properties generate Red Run revenue