PASSIVE INVESTMENT OPPORTUNITY WEBINAR

AUBURN SUMMIT PORTFOLIO

January 26th, 2022
4pm PST / 7pm EST

TREMENDOUS OPPORTUNITY TO OWN REAL ESTATE
IN AUBURN, AL

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Accredited Investors

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Investor Package with Offer Memorandum available after registration

7%

Preferred Return

6-8%

Cash on Cash

16-18%

IRR

2.01x

Equity Multiple

AUBURN SUMMIT PORTFOLIO

187 UNITS

BELOW MARKET VALUE

100% OCCUPANCY

This fantastic, value-add opportunity consists of 187-unit, 3-property package, primed for capital improvements.

Units are currently priced on average $172 below market, which with current demand and 100% occupancy we conservatively project strong upside.

Locally managed, well-maintained assets with the opportunity for amenity and interior upgrades.

The portfolio is nestled in close proximity to Auburn University
which has a total enrollment of 31,000+, near multiple major employment hubs.

Located in a consistently growing tertiary market which has
strong job and population growth.

It’s located in the 19th fastest growing metro area in the United States

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Deal Info

Current Occupancy: 100%
Units: 187
Purchase Price: $19,000,000
CapEx: $2,800,000
Current Average Rents: $793
Projected Average Rents: $965
Targeted Hold Period: 5 Years

Business Plan

The Summit Portfolio is a 187-unit, three property package in the heart of Auburn, Alabama. Each of the Summit properties are located within minutes of the historic downtown and Auburn University.

The Summit Portfolio presents as a low B-Class Property package that has the ability to lift rents with proper Capital Improvements and upgrades, driving it up in Class.

We plan to Invest over $2.8MM in capital improvements such as: new monument signs, exterior paint, shutters, upgraded lighting, appliances, and new LVP flooring.

This will allow us to be competitive in the booming Auburn market and sustain positive NOI growth year-over-year and meet the ever-growing needs in the community for quality multifamily housing.

The Auburn Summit arrives to market 100% occupied and has received moderate capital infusion in recent years with a combined $300,000+ injected into both exteriors and interiors across the portfolio.

This strategic investment has virtually no vacancy, which indicates strong upside increase rents through updating interiors across all remaining classic units, as nearby comparable properties are receiving premiums in excess of $145-$227 for rehabbed interiors.

A Great Place to Live

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Booming Population & Job Growth

Auburn has the #1 fastest growing city in Alabama with over a
3% population growth annually. It’s also the 19th fastest growthing metro area in the United states since 1990.

Strong diverse base of employers, with over $400 million of new corporate investment expensation and over $200 million in defence contracts as of 2022.

Top Ranked Schools

Auburn City Schools is the fastest growing school district
in Alabama over the last five years

Recognized among the nation’s top public school systems each year due to a progressive use of technology and continued support from the City and the community.

They are also ranked in the nations top 100 school systems by Parenting Magazine.