Berkadia is pleased to present the exclusive listing of The Grove by Watermark, a 320-unit, newly constructed Class A luxury community in Grand Rapids, MI. The asset presents a new investor with an institutional-grade multifamily opportunity.
Reach out to the Berkadia Midwest Team with questions: Jason Krug(email@example.com / 248-341-3344); Corey Krug(firstname.lastname@example.org / 248-341-3338); Kevin P. Dillon(email@example.com / 248.341.3309). Ghida Zahr
Jones Lang LaSalle is pleased to present the exclusive listing of The Residences at Park Place, a 258-home luxury mid-rise apartment community perfectly situated in Park Place Village, Kansas City's premier mixed-use and entertainment district.
Reach out to the JLL Midwest Team with questions: Adam Tilton (firstname.lastname@example.org / 913-469-4626); Jim Gates (email@example.com / 913-469-4638).For capital markets: David Gaines (firstname.lastname@example.org / 312-528-3699); Trent Niederberger (email@example.com / 312-528-3682); Kyle Butler (Kyle.Butler@am.jll.com / 312-300-7307); Jason Zyck (firstname.lastname@example.org / 630-390-4590).
Institutional Property Advisors (IPA) is pleased to present the exclusive listing of 4000 Hulen, a 240-unit, stabilized asset in Fort Worth, Texas. The asset presents a new investor with a significant value-add opportunity.
- 240-Unit, First-Generation Value-Add Asset built in 2015 with Significant Upside
- Highly Visible Location off the Chisholm Trail Toll Road in Fort Worth Texas
- Convenient Access to Employment Centers Downtown Fort Worth, Near Southside Medical District, and Texas Christian University
- High-End Retail and Entertainment Drivers in the Immediate Area: Shops at Clearfork, Waterside, and Magnolia
- 15 Percent Discount to Comparable, New Construction Assets within Clearfork and Waterside
Reach out to the IPA Texas Team with questions: Joey Tumminello (email@example.com / (972) 755-5179) Drew Kile, (firstname.lastname@example.org / (972) 755-5276), Will Balthrope (email@example.com / (210) 314-7839) Taylor Hill, Michael Ware, Jeff Kindorf
Newmark is pleased to present the exclusive listing of The Printhouse, a 71-unit, Class A luxury community in the rapidly transforming city of New Rochelle in lower Westchester County, NY. The asset presents a new investor with an institutional-grade multifamily opportunity that benefits from a tax PILOT, features designer finishes, and robust amenities in a pedestrian / transit location (97 WalkScore).
- Designer Finishes with quartz countertops, stainless steel appliances, tile backsplash, plank flooring, open floorplans, oversized windows, walk-in closets, and private terraces.
- Class A Community features 2 rooftop terraces with Long Island Sound views, adjacent resident lounge and full fitness center in home smart technology package.
- Pedestrian Centric location walkable to dozens of restaurants, coffee shops, entertainment and retail amenities.
- Transit Oriented location with New Rochelle Train Station 5 minutes away offering Metro North service to Grand Central and Amtrak service to Penn Station, Boston, Philadelphia & Washington, DC.
- Exceptional Market as rents have grown 7.2% since Q2 2021 and forecast to grow 12.5% in 2022 with current vacancy of 3.7%.
- Downtown New Rochelle population is forecast to grow 9.4% through 2027 with incomes growing 24.7% during the same time period, outpacing Westchester County.
- Major Employers in Westchester include IBM, Regeneron Pharma, PepsiCo, Mastercard, Morgan Stanley, Siemens, SwissRe and AT&T, among others.
Reach out to the Newmark Tri-State Team with questions: Gene Pride(firstname.lastname@example.org / 201-504-5130); Kevin Welsh(email@example.com / 201-528-0862); Brian Schulz(firstname.lastname@example.org / 201-528-0844 ); Alex Haendler(email@example.com / 203-531-3637). Jamie Thelwell, Maria Betancourt.
Newmark is pleased to present the exclusive listing of South Hill, a 174-unit Value-Add asset minutes from major employment, retail, and entertainment in San Antonio.
- Value-add opportunity located in south central San Antonio minutes from major employment, retail, and entertainment
- Outstanding market fundamentals: South Central submarket rental rates grew by 11.9% in the past 12 months (Austin Investor Interest, 2Q22)
- Limited supply: only two properties under construction within a four-mile radius of the property
- Utility Billback Program: opportunity to implement a utility billback program to significantly increase income
- Assuming a 55% billback ratio and current utility expenses, a new owner could see $125k+ in additional annual income
- Tremendous Value-add opportunity; ability to renovate 89% of the unit interiors which are in classic/original condition
- Current owner has invested significant capital at the property including:
- Light upgrades (±$3,000 per unit) to 11% of the unit interiors, consisting of upgraded vinyl / Pergo flooring, two tone paint, and upgraded ceiling fans and blinds - achieving premiums of $100 per unit
- Entire exterior paint including apartment doors/railings/fences, exterior lighting, repaving and restriping parking lot, landscaping, new exterior LED lighting, new signage, and updates to all three pools
- Unit interiors are ripe for upgrades, opportunities include: continuing the current upgrades or take it to the next level with granite/quartz countertops, stainless steel appliances throughout, new white or grey cabinets, vinyl plank flooring throughout in remaining units, designer kitchen backsplashes, smart home tech package, framed mirrors, two-inch blinds, etc.
- Additional upgrades include: a contemporary clubhouse remodel, package locker system, pool bungalow cabanas, repurpose tennis court, add dumpster enclosures, bark park, dog wash station, implement bulk cable package, add washer/dryer connections, etc.
- Nearby comparable properties are achieving $225± more than South Hill – significant room for the new owner to grow rents
Reach Newmark Central Texas Investment Sales Team with questions: Jim Young (firstname.lastname@example.org / 512-637-1265); Matt Michelson(email@example.com / 210-529-7266); Andrew Dickson(firstname.lastname@example.org; 512-637-1237); Chase Easley(email@example.com / 512-676-5529); Patton Jones(firstname.lastname@example.org / 512-637-1213). Michelle Davidson, Rob Pavloff, Kristen Karpowicz.
Newmark is pleased to present the exclusive listing of 875-893 Broad St., a premier opportunity zone high-rise development site – 884 Units & 9,500 SF Retail – in Newark, NJ. Located across from Newark City Hall and the Prudential Center (tax PILOT potential).
- Ideal long-term Pedestrian &Transit centric location with 90 WalkScore (walkers paradise)
- Regional and Global transit hub provided by Newark Penn Station (NJ Transit, PATH, Amtrak), Newark Liberty International Airport (3.2 miles), I-95, I-280, I-78 & Garden St. Pkwy
- Newark is major “Meds & Eds” center with 60,000+ students (Rutgers Newark, NJIT, Rutgers Medical School, Seton Hall Law School among others) and 3 hospitals with 1,500+ beds
- Cultural & Entertainment Center with Prudential Center (adjacent with 16,700+ seats), NJPAC, Grammy Museum and Newark Museum of Art
- Diverse Economic Drivers include Prudential Global HQ, Panasonic, PSEG, WebMD, Audible, Horizon Healthcare, Mars/Wrigley
- Newark is experiencing a Building Renaissance with major capital investments in Penn Station, Gateway Center (2.1M SF office complex), Mulberry Commons plus over 3,000 apartments built or currently in construction.
Reach out to the Newmark Tri-State Investment Sales Team with questions: Gene Pride (email@example.com/201-504-5130); Kevin Welsh (firstname.lastname@example.org / 201-528-0862); Jeff Kolodkin(email@example.com / 201-460-5163); Brian Schulz(firstname.lastname@example.org / 201-528-0844); Jamie Thelwell, Maria Betancourt.