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STOLLENWERK | COSGROVE
AIAApartment
Investment
Advisors
200 N TRIGG GALLATIN, TN 37066
EXCLUSIVE OFFERING MEMORANDUM
6 CADILLAC DR. SUITE 100 | BRENTWOOD TN 37027 | 615.997.2900 | www.marcusmillichap.com
14 – UNIT VALUE-ADD OPPORTUNITY
LOCATED IN OPPORTUNITY ZONE
200 N TRIGG
14 UNITS | BUILT 1987 | 200 N TRIGG GALLATIN, TN 37066 | SUMNER COUNTY
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Apartment Investment Advisors ofMarcus & Millichap Real Estate Investment Services of Tennessee, Inc. and should not be made available to any other person or entity without the written consent of AIA. This Marketing Brochure hasbeen prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein isnot a substitute for a thorough due diligence investigation. AIA and Marcus & Millichap have not made any investigation, and make no warranty or representation, with respect to the income orexpenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminatingsubstances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, orany tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;however, AIA and Marcus & Millichap have not verified, and will not verify, any of the information contained herein, nor has AIA or Marcus & Millichap conducted any investigation regarding thesematters and they make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify allof the information set forth herein. Seller retains all rights and discretion to determine the offer and acceptance process including but not limited to the right to accept or reject any offer in its sole andabsolute discretion. Seller shall only be bound by duly executed and enforceable agreements entered into, if any. ALL MATTERS PRIVILEGED AND CONFIDENTIAL.NON-ENDORSEMENT NOTICEApartment Investment Advisors and Marcus & Millichap are not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of anycorporation logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of AIA or Marcus & Millichap, its affiliates or subsidiaries, or any agent,product, service, or commercial listing of AIA or Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALLPROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR AIA ADVISOR FOR MORE DETAILS.
STOLLENWERK | COSGROVE
AIAApartment
Investment
Advisors
Address
City
State
Zip
County
Number of Units
Rentable SF
Ave. Unit Size (RSF)
Year Build
Roof Type
Lot Size
Located in Opportunity Zone
Water Responsibility
Electric Responsibility
200 N Trigg Ave
Gallatin
TN
37066
Sumner
14
15,000
1,071
1987
Metal Roof
1 Acre
YES
Individually Metered
Individually Metered
OFFER SUBMISSIONOffers should be presented in the form of a non-binding Letter of
Intent, spelling out the significant terms and and conditions of the
Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due
diligence and closing time frame, 3) earnest money deposit, 4) a
description of the debt/equity structure, and 5) qualification to close.
The purchase terms shall require all cash to be paid at closing. Offers
should be delivered to the attention of
Pat Cosgrove or David Stollenwerk.DAVID STOLLENWERK
Investment AdvisorOffice: 615.997.2841 Cell: 404.643.8789David.Stollenwerk@marcusmillichap.com
EXCLUSIVELY LISTED BY:Marcus & Millichap has been selected to exclusively market for
sale 200 N Trigg Ave Gallatin, TN.
PAT COSGROVE
Investment AdvisorOffice: 615.997.2853 Cell: 615.973.5373Pat.Cosgrove@marcusmillichap.com
LIST PRICE: $999,900
200 N TRIGG
200 N TRIGG
200 N TRIGG
S VA – S A L ES CO MP S
200 N TRIGG SALES COMP SUMMARY
Property Year B ui l t Ci ty Uni ts Ave. Uni t Size Clos e Da te Sa le Price Sa le Price/Uni t Sa le Price/SF Note
Townhouse Villas 1985 Madison 14 865 3/27/2017 $1,100,000 78 ,571$ $90.83
Hickory Place Apartments 2001 Madison 16 1000 6/14/2018 $1,100,000 68 ,750$ $68.75
547 N Water 1968 Gallatin 8 N/A 1/15/2016 $500,000 62,500$ N/A
Carriage House Apartments 1973 Hendersonville 16 960 1/5/2016 $905,000 56 ,563$ $58.92
200 N Trigg 1987 Gallatin 14 1071 TBD TBD TBD TBD
Averages 974 $901,250 66 ,596$ $72.83
Property Year B ui l t Ci ty Uni ts Ave. Uni t Size Clos e Da te Sa le Price Sa le Price/Uni t Sa le Price/SF Note
547 N Water 1968 Gallatin 8 N/A 1/15/2016 $500,000 62,500$ N/A
Townhouse Villas 1985 Madison 14 865 3/27/2017 $1,100,000 78 ,571$ $90.83
Hickory Place Apartments 2001 Madison 16 1000 6/14/2018 $1,100,000 68 ,750$ $68.75
Carriage House Apartments 1973 Hendersonville 16 960 1/5/2016 $905,000 56 ,563$ $58.92
200 N Trigg 1987 Gallatin 14 1071 TBD TBD TBD TBD
Averages 974 $901,250 $66 ,596 $72.83
Sorted by Sale Price per SF Highest to Lowest
SALE COMPS
Sorted by Sale Price per Unit Highest to Lowest
Property Year Built City Units
Ave. Unit
Size
Close
Date Sale Price
Sale
Price/Unit
Sale
Price/SF Note
200 N Trigg 1987 Gallatin 14 1,071 TBD TBD TBD TBD
Subject Property
2 0 0 N T R I G G S A L E S C O M P
2 0 0 N T R I G G S A L E S C O M P
Property Year Built City Units
Ave. Unit
Size
Close
Date Sale Price
Sale
Price/Unit
Sale
Price/SF Note
547 N Water 1968 Gallatin 8 N/A 1/15/2016 $500,000 62,500$ N/A
SALE COMP
2 0 0 N T R I G G S A L E S C O M P
Property Year Built City Units
Ave. Unit
Size
Close
Date Sale Price
Sale
Price/Unit
Sale
Price/SF Note
Carriage House Apartments 1973 Hendersonville 16 960 1/5/2016 $905,000 56,563$ $58.92
SALE COMP
2 0 0 N T R I G G S A L E S C O M P
Property Year Built City Units
Ave. Unit
Size
Close
Date Sale Price
Sale
Price/Unit
Sale
Price/SF Note
Townhouse Villas 1985 Madison 14 865 3/27/2017 $1,100,000 78,571$ $90.83
SALE COMP
2 0 0 N T R I G G S A L E S C O M P
Property Year Built City Units
Ave. Unit
Size
Close
Date Sale Price
Sale
Price/Unit
Sale
Price/SF Note
Hickory Place Apartments 2001 Madison 16 1,000 6/14/2018 $1,100,000 68,750$ $68.75
SALE COMP
2 0 0 N T R IGG – R ENT CO MP S
Two-Bedroom Rents
Property Year Built Unit Type Washer/Dryer Connections SF Market Rent
Concessions
Adj./Month
Utilit ies
Adj./Month Net Rent Net Rent/SF
Brookhaven Apartments 1979 2 BED 1 BATH YES 1,020 $959 $0 $0 $959 $0.94
Stratford Apartments 1986 2 BED 2 BATH YES 900 $950 $0 $0 $950 $1.06
Stratford Apartments 1986 2 BED 1 BATH YES 900 $950 $0 $0 $950 $1.06
200 N Trigg Ave 1987 2 BED 1.5 BATH YES 1,071 $795 $0 $0 $795 $0.74
Belle Water Apartments 1965 2 BED 1 BATH NO 730 $775 $0 $0 $775 $1.06
Courtyard Apartments 1960 2 BED 1 BATH YES 800 $625 $0 $0 $625 $0.78
Averages 904 $842 $0 $0 $842 $0.94
RENT COMPS
Sorted by Net Rent Highest to Lowest
T W O B E D R O O M R E N T C O M P S BY N E T R E N T
Two-Bedroom Rents
Property Year Built Unit Type
Washer/Dryer
Connections SF Market Rent
Concessions
Adj./Month
Utilit ies
Adj./Month Net Rent Net Rent/SF
Belle Water Apartments 1965 2 BED 1 BATH NO 730 $775 $0 $0 $775 $1.06
Stratford Apartments 1986 2 BED 2 BATH YES 900 $950 $0 $0 $950 $1.06
Stratford Apartments 1986 2 BED 1 BATH YES 900 $950 $0 $0 $950 $1.06
Brookhaven Apartments 1979 2 BED 1 BATH YES 1,020 $959 $0 $0 $959 $0.94
Courtyard Apartments 1960 2 BED 1 BATH YES 800 $625 $0 $0 $625 $0.78
200 N Trigg Ave 1987 2 BED 1.5 BATH YES 1,071 $795 $0 $0 $795 $0.74
Averages 904 $842 $0 $0 $842 $0.94
RENT COMPS
Sorted by SF Net Rent Highest to Lowest
T W O B E D R O O M R E N T C O M P S B Y S F N E T R E N T
2 0 0 N T R I G G R E N T C O M P
200 N Trigg Ave
200 N Trigg Ave, Gallatin, TN 37066 - Sumner County
Total # of Units: 14
Year Built: 1987
Date Surveyed: 11/28/2018
Unit Type # of Units SF Rent Low
Rent
High Rent Avg. Rent/ SF
2 BED 1.5 BATH 14 1,071 $695 $895 $795 $0.74
Total 14 1,071 $795
Ownership
Management
Leasing-Office Phone Number
Occupancy (Physical)
Occupancy (Pre-Leased)
Concessions/Discounts
Pet Fees
Pet Rent
Pricing Method (Fixed or Yieldstar/LRO)
Application Fees / Administrative Fees
Lease Term
Water and Sewer Responsibility
Water and Sewer Billing Method
Trash Removal Responsibility
Trash Billing Method
Valet or Self-Service
Garage
Amenities/Notes
Status of W/D Connections and Appliances
TENANT PAYS ELECTRIC
CONNECTIONS
TENANT
TENANT
N/A
SUBJECT
JORGENSEN FAMILY TRUST
2 0 0 N T R I G G R E N T C O M P
Belle Water Apartments
478 S Water Ave Gallatin, TN
Total # of Units: 25
Year Built: 1965
Date Surveyed: 9/10/2018
Unit Type # of Units SF Rent Low
Rent
High Rent Avg. Rent/ SF
1 BED 1 BATH 550 $675 $675 $675 $1.23
2 BED 1 BATH 730 $775 $775 $775 $1.06
3 BED 1 BATH 1,089 $1,075 $1,075 $1,075 $0.99
Total 0 #DIV/0! #DIV/0! #DIV/0!
Ownership
Management
Leasing-Office Phone Number
Occupancy (Physical)
Occupancy (Pre-Leased)
Concessions/Discounts
Pet Fees
Pet Rent
Pricing Method (Fixed or Yieldstar/LRO)
Application Fees / Administrative Fees
Lease Term
Water and Sewer Responsibility
Water and Sewer Billing Method
Trash Removal Responsibility
Trash Billing Method
Valet or Self-Service
Garage
Amenities
Status of W/D Connections and Appliances NO
NEWLY RENOVATED. LAUNDRY FACILITY ON-SITE
$40 APP
1
2 0 0 N T R I G G R E N T C O M P
Brookhaven Apartments
625 Green Wave Dr Gallatin, TN 37066
Total # of Units: 112
Year Built: 1979
Date Surveyed: 9/10/2018
Unit Type # of Units SF Rent Low
Rent
High Rent Avg. Rent/ SF
1 BED 1 BATH 813 $859 $859 $859 $1.06
2 BED 1 BATH 1,020 $959 $959 $959 $0.94
3 BED 2 BATH 1,334 $1,139 $1,139 $1,139 $0.85
Total 0 #DIV/0! #DIV/0! #DIV/0!
Ownership
Management
Leasing-Office Phone Number
Occupancy (Physical)
Occupancy (Pre-Leased)
Concessions/Discounts
Pet Fees
Pet Rent
Pricing Method (Fixed or Yieldstar/LRO)
Application Fees / Administrative Fees
Lease Term
Water and Sewer Responsibility
Water and Sewer Billing Method
Trash Removal Responsibility
Trash Billing Method
Valet or Self-Service
Garage
Amenities/Notes
Status of W/D Connections and Appliances
2
BROOKSIDE
99%
$350-$400
SELF-SERVICE
N/A
CONNECTIONS EXCEPT ONE BEDROOMS
TENANT PAYS ELECTRIC. LAUNDRY CENTER, POOL, FITNESS CENTER
$45 APP
12 MONTH
TENANT
N/A
TENANT
2 0 0 N T R I G G R E N T C O M P
Stratford Apartments
1300 Nashville Pike Gallatin, TN 37066
Total # of Units: 120
Year Built: 1986
Date Surveyed: 9/10/2018
Unit Type # of Units SF Rent Low
Rent
High Rent Avg. Rent/ SF
1 BED 1 BATH 600 $805 $805 $805 $1.34
2 BED 1 BATH 900 $950 $950 $950 $1.06
2 BED 2 BATH 900 $950 $950 $950 $1.06
Total 0 #DIV/0! #DIV/0! #DIV/0!
Ownership
Management
Leasing-Office Phone Number
Occupancy (Physical)
Occupancy (Pre-Leased)
Concessions/Discounts
Pet Fees
Pet Rent
Pricing Method (Fixed or Yieldstar/LRO)
Application Fees / Administrative Fees
Lease Term
Water and Sewer Responsibility
Water and Sewer Billing Method
Trash Removal Responsibility
Trash Billing Method
Valet or Self-Service
Garage
Amenities/Notes
Status of W/D Connections and Appliances
3
TENANT
N/A
WASHER/DRYER
AMERICAN HERITAGE
100%
$25 APP
12 MONTH
N/A
N/A
TENANT PAYS ELECTRIC
$200.00
TENANT
TENANT
N/A
2 0 0 N T R I G G R E N T C O M P
Courtyard Apartments
731-735-739 N Water Gallatin, TN 37066
Total # of Units: 46
Year Built: 1960
Date Surveyed: 9/10/2018
Unit Type # of Units SF Rent Low
Rent
High Rent Avg. Rent/ SF
1 BED 1 BATH 8 650 $475 $525 $500 $0.77
2 BED 1 BATH 35 800 $625 $625 $625 $0.78
3 BED 2 BATH N/A
Total 43 772 $602 $0.78
Ownership
Management
Leasing-Office Phone Number
Occupancy (Physical)
Occupancy (Pre-Leased)
Concessions/Discounts
Pet Fees
Pet Rent
Pricing Method (Fixed or Yieldstar/LRO)
Application Fees / Administrative Fees
Lease Term
Water and Sewer Responsibility
Water and Sewer Billing Method
Trash Removal Responsibility
Trash Billing Method
Valet or Self-Service
Garage
Amenities
Status of W/D Connections and Appliances
4
PRIVATE OWNERSHIP
PRIVATE OWNERSHIP
100%
TENANT PAYS ELECTRIC
CONNECTIONS
LANDLORD
LANDLORD
2 0 0 N T R IGG – F INA NCIA L A NA LYS IS
FINANCIAL ANALYSIS
24
RENT ROLL DETAIL
2 0 0 N T R I G G R E N T R O L L
FINANCIAL ANALYSIS
OPERATING STATEMENT
25
2 0 0 N T R I G G O P E R AT I N G S TAT E M E N T
FINANCIAL ANALYSIS
OPERATING STATEMENT NOTES
26
2 0 0 N T R I G G O P E R AT I N G S TAT E M E N T N O T E S
FINANCIAL ANALYSISPRICING DETAIL
27
2 0 0 N T R I G G P R I C I N G
I N V EST M E N T H I G H L I G H T S
Nashville-Davidson--Murfreesboro--Franklin, TN Metro Area has a population of 1.87M people with a median age of 36.3 and a median household income of $60,030. Between 2015 and 2016 the population of Nashville-Davidson--Murfreesboro--Franklin, TN Metro Area grew from 1.83M to 1.87M, a 1.93%
increase and its median household income grew from $57,985 to $60,030, a 3.53% increase.
S U B J E C T P R O P E R T Y L O C AT E D I N N A S H V I L L E M S A
I N V EST M E N T H I G H L I G H T S2 0 0 N T R I G G L O C AT E D I N S U M N E R C O U N T Y, T N
Gallatin, TN was Reader’s Digest nicest place in America in 2017!
I N V EST M E N T H I G H L I G H T S
1
T H R I V I N G Q U A L I T Y O F L I F E
#7 on Forbes’ l ist of Top 25 F a s t e s t - G r o w i n g C i t i e s o f 2 0 1 8
Nashville has jumped significantly from #20 to #7 on the 2017list. "The goal of Forbes’ annual list of America’s fastest-growingcities is to give a holistic picture of places on the upswing. Thatmeans looking not just at job, population or output growthindividually, but considering how these important measures andothers come together. It means looking back to see which cities grewthe most in 2017 and forward to project which cities will make stridesin 2018," says Forbes.
2
O U T S T A N D I N G B U S I N E S S D E V E L O P M E N T
Nashvi l le Named Major Market of the Year for 2017
Southern Business & Development Magazine (SB&D) ranks states andpeer group markets based on the capture of projects announced in theSouth meeting or exceeding 200 jobs and/or $30 million ininvestment. The SB&D 100 (the 24th annual) ranks each state andmarket through points earned based on the capital investment, jobsand the size of each project captured. Nashville earned "Major Marketof the Year" for 2017 for its performance in calendar year 2016 with165 points. The second highest ranking metro received 105 points.
3
S T R O N G P O P U L A T I O N G R O W T H
13.5% POPULATION GROWTHF R O M 2 0 1 0 T O 2 0 1 7
Nashville MSA population has grown from 1,675,972 in 2010 to 1,903,045 in 2017. Davidson County population has grown from 628,131 in 2010 to 691,243 in 2017.
3 1 M I L E S F RO M V I B R A N T N A S H VIL LE
NASHVILLEOVERVIEW
1
Known as the epicenter of county music, the Nashville metro contains
a population of nearly 2 million within 14 counties: Davidson, Smith,
Macon, Williamson, Cheatham, Sumner, Dickson, Robertson, Cannon,
Rutherford, Hickman, Trousdale, Maury and Wilson. Davidson is the
most populous county with 702,900 people and is home to Nashville,
the capital city, which has 674,400 residents. The metro is located in
the north-central portion of the state of Tennessee in what is known as
the Central Basin. The Cumberland River, which snakes through the
region, adds to the local economic base and enhances Nashville’s
quality of life. The metro has a strong multimodal infrastructure
network linking the metro to markets around the world.
METRO HIGHLIGHTS
MUSIC INDUSTRY CAPITAL
The metro is well known as a central location for the
country music industry, which provides many local
jobs and supports a large hospitality sector.
DIVERSIFYING ECONOMY
Other major industries in the metro include
healthcare, government, automotive manufacturing,
publishing, insurance and finance.
ROBUST POPULATION GROWTH
The population will increase at a faster pace than
the nation over the next five years.
MADISON CREST APARTMENTS
NA S HV IL L E OV ERV IEW
AUSTIN PEAY UNIVERSITYNA S HV IL L E S P O RT S & L E IS UR E
P RO FES S IO NAL S P O RTS T EA MS
AUSTIN PEAY UNIVERSITYHIGHER EDUCAT IO N TA L ENT P O O L
“Vanderbilt, Belmont, and Lipscomb universities offer top ranked MBA programs” Bloomberg Business, 2018
123,000students attend the area’s colleges and universities.
60%of college graduates remain in the region.
Middle Tennessee is a magnet for talent, young graduates and the types of workers new and growing industries seek. Considered a nationalhub for the creative class, the Nashville region’s educated workforce not only provides an abundant talent pool for companies, but alsobolsters the region’s vibrancy, artistic and musical essence, and competitive edge in technology and innovation. While our region supportsmany innovative and aggressive local programs to recruit workers to the region, many of Nashville's most valuable workers come from thearea's own vast educational system, with its 24 accredited four-year, two-year, tech schools and postgraduate institutions. Nearly 123,000students are enrolled in higher education in the Nashville area, the largest concentration in a four-state region. We retain 60 percent of thesegraduates annually in our region. More than 34 percent of residents over age 25 have a bachelor’s degree or higher, and more than 150,000residents have graduate or professional degrees.
AUSTIN PEAY UNIVERSITYVA NDER BILT UNIV ERS IT Y
BEL MO NT UNIV ERS IT Y
AUSTIN PEAY UNIVERSITYL IBS CO MB UNIV ERS ITY
ECONOMY▪ The entertainment and country music capital houses a number of venues such as Ryman
Auditorium, Grand Ole Opry, Country Music Television and Music Row.
▪ The nation’s lowest tax burdens and incentives for businesses attract companies to the
region and are assisting in diversifying the economy.
▪ Fortune 500 companies headquartered in the region: HCA Holdings, Dollar General,
Community Health Systems, LifePoint Health, Delek US Holdings and Tractor Supply Co.
SHARE OF 2017 TOTAL EMPLOYMENT
MAJOR AREA EMPLOYERS
Vanderbilt University and Medical Center
The Kroger Co.
Community Health Systems
Saint Thomas Health
Nissan North America
HCA Healthcare
Ryman Hospitality Properties
Electrolux Home Products
Cracker Barrel Old Country Store, Inc.
Randstad * Forecast
2
MANUFACTURING
8%GOVERNMENT
HEALTH SERVICES
EDUCATION AND
+OTHER SERVICES
4%
LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES
19%
AND UTILITIES
TRADE, TRANSPORTATION CONSTRUCTION
PROFESSIONAL AND
BUSINESS SERVICES
2%INFORMATION
17%
4%
12% 12% 6%
15%
MADISON CREST APARTMENTSECO NO MY
DEMOGRAPHICS
SPORTS
EDUCATION
ARTS & ENTERTAINMENT
▪ The metro is expected to add nearly 133,200 people over the next five years,
resulting in the formation of approximately 60,900 households.
▪ A median home price slightly below that of the nation has allowed 65 percent of
households to own their home, compared with 64 percent for the U.S.
▪ Roughly 31 percent of residents age 25 and older hold bachelor’s degrees; of those
residents, 11 percent also have obtained a graduate or professional degree.
While music may be in Nashville’s blood, Music City has a lot more to offer, including
performing arts, history, cuisine, professional sports, education institutions, natural beauty
and Southern charm. Music is alive not only at the Grand Ole Opry, but also at the Ryman
Auditorium, Fontanel Mansion, Schermerhorn Symphony Center and the Tennessee
Performing Arts Center. For country music fans, there is the Country Music Hall of Fame
and Museum. Performing arts include the Nashville Ballet, Nashville Symphony, Nashville
Opera Association, Tennessee Repertory Theatre, Nashville Children’s Theatre and the
ACT 1 (Artists’ Cooperative Theatre). Museums in the metro include the Tennessee State
Museum, the Vanderbilt University Fine Arts Gallery and Frist Center for the Visual Arts.
QUALITY OF LIFE
3
2017 Population by Age
0-4 YEARS
6%5-19 YEARS
20%20-24 YEARS
7%25-44 YEARS
29%45-64 YEARS
26%65+ YEARS
12%
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s
Analytics; U.S. Census Bureau
MADISON CREST APARTMENTS
36.4
2017MEDIAN AGE:
U.S. Median:
37.8
$57,600
2017 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
$56,300
1.9M
2017POPULATION:
Growth2017-2022*:
7.1%
730K
2017HOUSEHOLDS:
8.3%
Growth2017-2022*:
DEMO GR A P HICS
MADISON CREST APARTMENTS
* 2007-2017 Average annualized appreciations in price per unit
Sources: Marcus & Millichap Research Services; CoStar Group, Inc.; Real Capital Analytics
2018 PRICING & VALUATION TRENDS
Yield Range Offers Compelling Options for Investors; Most Metros Demonstrate Strong Appreciation Rates
2 0 1 8 P R IC ING & VA LUAT ION T R ENDS
STOLLENWERK | COSGROVE
AIAApartment
Investment
Advisors
200 N TRIGG GALLATIN, TN 37066
EXCLUSIVE OFFERING MEMORANDUM
6 CADILLAC DR. SUITE 100 | BRENTWOOD TN 37027 | 615.997.2900 | www.marcusmillichap.com
14 – UNIT VALUE-ADD OPPORTUNITY
LOCATED IN OPPORTUNITY ZONE
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