Overview

Description

A THREE-ASSET, NEW CONSTRUCTION PORTFOLIO, CONSISTING OF 211 UNITS PRIMED FOR VALUE-ADD IMPLEMENTATION IDEALLY SITUATED IN THE HEART OF BOOMING NORTHWEST ARKANSAS MARKET RENTS WELL BELOW COMPETITIVE SUBSET | UPSIDE OF $600,000 AT STABILIZED RENTS STRONG SURROUNDING DEMOGRAPHIC PROFILE SURROUNDED BY FORTUNE 500 PUBLIC COMPANIES, LARGE PRIVATE COMPANIES, COLLEGES, AND UNIVERSITIES OFFERED FREE AND CLEAR OF ANY EXISTING DEBT A three-asset, new construction portfolio, consisting of 211 units primed for value-add implementation Each asset was built between 2010 to 2018 with the largest, Frisco, being the newest. All are extremely well-maintained with no deferred maintenance. The properties are positioned perfect for minor to moderate cosmetic value-add to achieve inline market rents. Ideally situated in the heart of booming Northwest Arkansas The three assets are ideally located in the fastest growing area of Northwest Arkansas – Central Benton County. Frisco is located on highly trafficked Walnut St, immediately proximate to restaurants, retailers, grocers, office spaces and interstate connectivity. Tucked away in the hills of Downtown Bentonville, Trailside Place is located directly on the mountain bike trail system and minutes from the Walmart Home Office. 15th Place sits seconds from Rogers High School and less than 2 miles from grocery and shopping off the Pleasant Grove exit. Market rents well below competitive subset | Upside of $600,000 at stabilized rents Central Benton County rents have grown 7%+ since January 2021 and are expected to continue to rise in the future.With light upgrades to the Frisco on Walnut, including solid surface countertops and upgraded stainless steel appliances, the property can achieve rent upside of $190/unit and remain at the low end of comparable properties.With some of the largest townhome units in Rogers, and the lowest rents, 15th Place is positioned perfectly for a rent increase of $285/unit with minor interior upgrades.Trailside Place is uniquely positioned among Class A properties near Downtown Bentonville, with the highest rents in Northwest Arkansas. The property will see rent increases of $300+/unit with light exterior upgrades, as well as upgrades to the interior including paint, refinished cabinets, countertops and appliances.

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