Cushman & Wakefield’s Multifamily Advisory Group is pleased to present the opportunity to acquire Hillside Residences, a 60-unit, 100% market rate, luxury apartment building located in Quincy Center. The property boasts market leading amenities in both the common areas and within the individual units, such as a state of the art fitness center, a roof deck with spectacular views of the Boston skyline, spacious community areas, under building garage parking and well-appointed unit interiors. The property includes a mix of studio, one bedroom, two bedroom, and four bedroom units with balconies featured in select units.

Hillside Residences is strategically located half a mile from the Quincy Center MBTA station, providing residents with unbeatable access to downtown Boston via the MBTA Red Line subway and Commuter Rail. The property is convenient to the area’s major roadways including Interstate 93, Routes 128/I-95 and Route 3, which provides the location immediate access to all points of the Greater Boston area and beyond.

Hillside Residences is available on an "as-is" basis and is being offered without a formal asking price. Upon receipt of a signed Confidentiality Agreement, investors will be provided with access to due diligence materials via The Multifamily System website. Once investors have had an opportunity to review the offering materials and tour the property, Cushman & Wakefield will schedule a "Call for Offers".

Iconic Speedway Location

Speedway, Indiana is best known for the iconic Indianapolis Motor Speedway, which has seen impressive new development in the surrounding area. This location also offers residents top schools, easy access to all the amenities in downtown Indy and on the westside, and abundant employment options.

$7M Capital Infusion

A significant amount of capital has been spent improving the property. Upgrades included 415 fully renovated units and amenity enhancements.

Huge Organic Rent Growth Achieved in 2022

The property boasts impressive organic rent growth with 20% increases on new leases and 10% rent bumps on renewals achieved without upgrades.

Long Term and Reliable Resident Base

Legend at Speedway boasts low bad debt and reliable residents who have a tendency to stay. The average length of tenancy is 36.8 months.

Upside Potential - 5.2% T-3 & 6%+ Cap Rate YR 1

The new owner can increase revenue immediately through burning off remaining loss to lease and achieving mid 90’s occupancy (nearby comps average 96% occupancy) to achieve a 6%+ Cap Rate in year one. 68 Classic Units and 290 Partially Renovated units can be fully upgraded to command a $150+ Premium.

1,401-Unit Portfolio Opportunity

Legend at Speedway can be purchased individually, or together with South & Madison (216 units) and Brickyard Flats (412 units), for a total portfolio of 1,401 units, offering instant economies of scale.

5.8% TRAILING CAP RATE + 100% OCCUPIED

Melrose Place is being offered at a high 5.8% trailing cap rate and is currently 100% occupied. The property is well-positioned for increased revenue by raising rents on new leases.

RENOVATED TURN KEY PROPERTY

A new owner can step in and operate the property as is with several improvements completed including all new HVAC units, water heaters, landscaping and balconies. All units have new modern cabinetry, quartz countertops, black appliances, plumbing and light fixtures, LVT flooring, two-tone paint scheme and in unit washer/dryer.

$2B LILLY INVESTMENT BRINGING 500 NEW JOBS

A transformational development is taking place with the largest investment to date in Lebanon. The LEAP Lebanon Innovation and Research District, a planned 7,000+ acre high-tech business park, has acquired its first tenant. Eli Lilly plans to invest $2.1 Billion to build two new manufacturing sites and bring up to 500 new jobs to the city.

GREAT LOCATION IN LEBANON (BOONE COUNTY)

The property is within walking distance to dining and shopping options in downtown Lebanon, and is close to major employers including Subaru, Skjodt-Barrett Foods, Festool (HQ) and Hachette Book Group. Lebanon is the county seat of Boone County—the fastest-growing county, and one of the most affluent, in Indiana.

CONVENIENT ACCESS TO INDIANAPOLIS & LAFAYETTE

Located in central Indiana, Lebanon is convenient to abundant employment and amenities in Indianapolis (±11 miles southeast) and Lafayette (Home of Purdue University, ±33 miles northwest). Both cities are accessible from Interstate 65, just one mile west of Melrose Place.

Cushman & Wakefield’s Manufactured Housing Group is pleased to present the exclusive listing of Milam Bridge a manufactured housing community in Euharlee, GA 40 miles northwest of Downtown Atlanta. The Park consists of 35 Park-Owned homes, 4 RV Pads, and 1 Single-Family Home. Milam Bridge is a professionally managed and stabilized asset with historically minimal turnover. The Park offers investors the compelling opportunity to acquire a value-add community with demonstrated rent increases. Current ownership has completed several recent renovations capturing for strategic rent increases and proven-value add premiums.

Nearly all of the homes in Milam Bridge are park-owned and occupied by long-term residents demonstrating keen desire to own their units. Future ownership is afforded a rare opportunity to gradually roll over to tenant-owned-homes through a Rent-to- Own program. This conversion will significantly reduce maintenance and operating costs, while allowing for long-term lot rent leases with consistent escalations.

Located less than 50 miles from Downtown Atlanta, the exurb of Bartow County has experienced a 23% year-over-year increase in median home prices since last April eliminating crucial affordable housing options in the MSA. Upward pressure on both conventional apartment rents and home prices, bodes well for future rent increases and rent-to-own initiatives at Milam Bridge.

Atlanta, GA MSA has grown 10.9%% since the end of 2019 and now has over 6,000,000 people. The state’s population has grown 7.8% from the end of 2019 and now has almost 11 million residents (8th most populated state). Milam Bridge MHP is being offered as a value-add investment with an entry cap rate of 4.9%, and the immediate opportunity to both reduce operating expenses and raise rents/transition to resident owned homes.