CLEARFIELD, UTAH 84015 TOWNHOME PORTFOLIO ......CLEARFIELD, UTAH 84015 CHRIS FALK, CCIM, SIOR Principal, Executive Vice President [email protected] 801.416.1024 BRAXTON WILLIE Senior

BROOKSHIRETOWNHOME PORTFOLIO OFFERING

830 SOUTH 550 EAST CLEARFIELD, UTAH 84015

CHRIS FALK, CCIM, SIORPrincipal, Executive Vice [email protected]

BRAXTON WILLIESenior [email protected]

EXCLUSIVELYMARKETED BY:

BROOKSHIRE 2

TABLE OF CONTENTS

BROOKSHIRE 3

EXECUTIVE SUMMARY

BROOKSHIRE 4

EXECUTIVE SUMMARYNewmark Grubb ACRES is pleased to present the Brookshire Townhome portfolio. Built in 2003, Brookshire totals 24 units, of which 22 are being offered for sale. The project has unique and efficient floorplan and each unit is connected to an enclosed garage. Brookshire boasts vacancy factor of less than 1% over the last 7 years and is currently 100% occupied

Centrally located in Clearfield (Davis County), Brookshire has immediate access to the Clearfield FrontRunner Station (mass transit- high speed rail), Highway 193 (largest east-west corridor in Davis County), I-15, and Main/State Street. The portfolio is within walking distance of all public schools, shopping, and city recreation and aquatic centers.

In comparison to apartments, townhomes typically offer more SF for the occupant and usually a secured, covered garage per unit. Potentially as a result, the sellers have realized a lower effective vacany rate in their townhomes in camparison to all other residential rental products. In addition, each townhome herein has its own tax ID number so future ownership may sell off individual units when and if desired as opposed to an apartment complex, duplex, etc. which typically has to be sold in its entirety.

Upon request, detailed analyses can be provided regarding rents, expenses, demographics, etc.

*72 additional contiguous units are also available for purchase, but contingent upon the sale of Hamblin Park and Kensington Place I. Please contact broker for more information.

PROFORMAT-12 COMBINED RENTAL INCOME $247,763TOTAL COMBINED EXPENSES: $56,943NET OPERATING INCOME $190,820CAP RATE 5%PURCHASE PRICE $3,816,400PRICE PER UNIT: $173,473PRICE PSF: $153

BROOKSHIRE 5

UNIT OVERVIEW OFFERING SUMMARY

BROOKSHIRE 6

OFFERING SUMMARY

BROOKSHIRE

ADDRESS830 SOUTH 550 EAST

CLEARFIELD, UT 84015

UNITS 22

TOTAL SF 24,928 SF

AVG UNIT SIZE 1,133 SF

YEAR BUILT 2003

ACRES .76 ACRES

PARKING2 PER UNIT: 1 COVERED (ATTACHED GARAGE)*

1 UNCOVERED

OCCUPANCY 100%

VACANCY (CURRENT) 0.0%

VACANCY (SINCE 2010) 0.75%

OPTION SIZE (SF) NUM TOTAL SFA 1,232 10 UNITS 12,320

B 1,180 8 UNITS 9,440

C 792 4 UNITS 3,168

TOTAL 22 UNITS 24,928

UNIT MIX

*4 units do not have an attached garage, but do have 1 covered parking stall

BROOKSHIRE 7

PROPERTY SPECIFICATIONS

BROOKSHIRE 8

FLOOR PLANS

BROOKSHIRE UNIT A1,232 SF – 3 BED, 1.5 BATH

UPPER LEVEL UPPER LEVEL

LOWER LEVEL LOWER LEVEL

BROOKSHIRE 9

FLOOR PLANS

UPPER LEVEL UPPER LEVEL

LOWER LEVEL LOWER LEVEL

BROOKSHIRE UNIT B1,180 SF – 3 BED, 1.5 BATH

BROOKSHIRE 10

FLOOR PLANS

BROOKSHIRE UNIT C792 SF – 2 BED, 1 BATH

BROOKSHIRE 11

55

0 E

as

t

49

0 E

as

t

830 South

800 South

Imagery ©2018 , State of Utah

BROOKSHIRE TOWNHOMES

SOLD

SOLD

A A

A

A

B

B

B

B

B

C

C

C

C

B

B

B

A

A A A

A

A

BROOKSHIRE 12

Brookshire

Kensington Place

Hamblin Park

Kensington Place II

55

0 E

as

t

1000 South

49

0 E

as

t

800 South

950 South

830 South

Sta

te S

treet

Imagery ©2018 , DigitalGlobe, State of Utah, U.S. Geological Survey

ALL TOWNHOMESSOLD

SOLD

72 additional contiguous units are also available for purchase, but

contingent upon the sale of Hamblin Park and Kensington Place I. Please contact broker for more information.

BROOKSHIRE 13

G r e a t

S a l t L a k e

o

Ho o pe r

Og de n

La y ton

R oy

Bo u nt i fu l

Ka y sv i l l e

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Fa r min g ton

C le a rf ie ld

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Wo odsCros s

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Ha rr is vi l le

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Wa s h ing tonTe rra c e

0 1.5 3Miles

N

The above information while not guaranteed has been secured from sources deemed reliable l 9/25/2018 l \ \MAPHICS\Maphics\Market ing\NG ACRES Projects\Industrial Division Projects\Opportunity Zones\Maps\opportunity-zones_davisco-weberco_11x17.mxd

www.ngacres.com

376 East 400 South, Suite 120 l Salt Lake City, Utah 84111Office 801.578.5555 l Fax 801.578.5500

Map Data and/or Imagery Courtesy of NAIP (2016)

Opportunity ZonesWeber & Davis Counties, Utah

As part of the Tax Cuts and Jobs Act of 2017, Opportunity Zones were created as a tool to incentivize economic development and job creation in distressed communities through tax benefits to investors. These benefits can include tax deferral, tax abatement, and/or tax-free appreciation. Qualified Opportuni-ty Funds, organized as corporations or part-nerships, are created to allow investors to re-invest unrealized capital gains in eligible property located within an Opportunity Zone. The most upside can be gained by patient in-vestors who hold their investment for 10 years and more.

DAVIS AND WEBER COUNTIES

OPPORTUNITY ZONES

BROOKSHIRE 14

Hill Air Force Base

§̈̈15

State

Street

193

Imagery ©2018 , DigitalGlobe, State of Utah, U.S. Geological Survey, USDA Farm Service Agency

North DavisJr High

ClearfieldHigh School

WALKABLE AMENITIES

South Clearfield

Elementary

5 min

basketball, gym, fitness classes

5 min

12 min

12 min

9 min

public ball fieldsplayground

hosts regional fireworks, and 4th of July celebration

Fisher Park

Clearfield Stationmass transit via bus

high-speed rail

15 min

5 min

pools, slides, splash pads5 min

Groceries, banking, shopping

BROOKSHIRE 15

Hill Air Force Base

§̈̈15

Sta

te S

t reet

Antelope Drive1700 South

22

00

We

st

193


EXIT #334SR-193

EXIT #332ANTELOPE DRIVE

1000

Eas

t

1200

Wes

t

1500

Eas

t

550

East

201 193 111 75

North DavisJr High

Clearfield City Cemetery

ClearfieldHigh School

Uni

vers

ity P

ark

Blv

d

Clearfield Station

DAVIS CAMPUS

15 80 84215

15 80 84215

COMMUNITY AMENITIES

Brookshire is a supplementary offering to Hamblin Park and

Kensington Place

BROOKSHIRE 16

LOCAL LANDMARKS

ANTELOPE ISLAND is accessible via a 7-mile causeway from Syracuse in Davis County. Access from I-15 is via exit 332.

The Island is managed as a State Park that is open for year-round recreation featuring a marina, beach, campground and hiking trails. The park hosts several annual events including the Great Salt Lake Bird Festival, Buffalo Days & the Hot Air Balloon Stampede.

Antelope Island is known for its stark scenic beauty, especially in the northwest quadrant of the island that is developed with a visitors center, museum, restaurant, the vast waters of the Great Salt Lake reflecting the mountains of the Wasatch range and magnificent sunsets.

The bison herd was introduced to the island in 1893 and thrives there because much of the island is covered by dry, native grassland.

HILL AIR FORCE BASE has played a major role in the United States Air Force war fighting efforts from WWII to the present day.

Hill is a hub of activity for the depot maintenance of numerous aircraft and weapons systems, as well as other military logistics and parts programs.

The base is also home to the 75th Air Base Wing and the flying activities of the 388th and 419th Fighter Wings.

In this decade Hill AFB is still the sixth-largest employer in the state of Utah, and the third-largest one excluding the State Government and Higher Education employers. Hill AFB is the home of the Air Force Materiel Command’s (AFMC) Ogden Air Logistics Complex which is the worldwide manager for a wide range of aircraft, engines, missiles, software, avionics, and accessories components.

FREEPORT CENTER was originally built in 1942 as the Clearfield Naval Supply Depot, which was decommissioned in 1962 and transitioned to the industrial sector with manufacturing and distribution situated in the middle of all the major western U.S. Markets.

Freeport Center is home to more than 70 national and local companies that have a workforce of over 7,000 employees. These companies have found Freeport Center is in the best location to manufacture and distribute products.

BROOKSHIRE 17

§̈̈15

Sta

te S

treet


CENTRAL BUSINESS DISTRICT and LAYTON HILLS MALL is the hub of retail shopping and activity in Layton, Utah. Opened in 1980, the mall encloses 661,000 SF featuring Dick’s Sporting Goods, J.C. Penney and Dillard’s as its anchor stores, and over 100+ other retailers. This area also includes 10+ hotels, numerous national and local restaurants, two move theaters, walkable entertainment and shopping, and is centrally located between the two major I-15 on/off ramps.

LOCAL LANDMARKS

Clearfield Station - Urban Design Plan, Standards & Guidelines Page 11

VISION

Figure 1.1: Clearfield Station Illustrative Master Plan

IntroductIon

0’ 150’ 300’

1000 East

State Street

1200

Wes

t

550

East

Clearfield Station

Business Park

Residential

CLEARFIELD FRONTRUNNER STATION is a 68 Acre transit oriented development envisioned to be a unique mixed-use community with a variety of land uses that take advantage of the adjacent commuter rail line and major employment centers within the area. The development will happen in phases, and will consist of residential areas that are moderate to high density, mixed with local-serving retail and neighborhood services. Commercial uses will be a mix of commercial and light industrial. This project will have a direct walking path leading to Hamblin Park and Kensington Place.

BROOKSHIRE 18

FINANCIAL ANALYSIS

BROOKSHIRE 19

CURRENT OPERATING INCOME & EXPENSES (T-12)

TOTAL EXPENSES BROOKSHIREPROPERTY TAXES $(21,438)

PROPERTY INSURANCE $(1,869)

MANAGEMENT FEE $(3,600)

REPAIRS & MAINTENANCE $(8,214)

COMMON UTILITIES $(702)

LANDSCAPING, SNOW REMOVAL, PEST CONTROL, HOA, OTHER $(21,120

TOTAL EXPENSES: $(56,943)EXPENSES PER UNIT $(2,588)

T-12 INCOME BROOKSHIRERENT $238,230

HOA INCOME $7,032

OTHER INCOME $2,500

T-12 COMBINED INCOME $247,763

NET OPERATING INCOMENET OPERATING INCOME: $190,820

CAPITALIZATION RATE: 5%

PURCHASE PRICE: $3,816,400

PRICE PER UNIT: $173,473

PRICE PSF: $153

BROOKSHIRE 20

BROOKSHIRE was built and is currently owned by the same developer. As a result, a conservative approach regarding occupancy has always been sought and appropriate market-rate increases have never been adjusted for, nor collected. However, as you’ll see in the included data, ownership has set a new rental schedule for 2018 and is obtaining significant market increases while maintaining full occupancy. The tables herein show significant equity increases a buyer could expect to yield based on the proposed rental schedule.

BROOKSHIRE 2018 PROPOSED LEASING SCHEDULE (W/INCREASES)BROOKSHIRE JULY ‘17 - JUNE ‘18 NOI $190,820

CAP RATE 5%

PURCHASE PRICE $3,816,400

NOI VIA 2018 PROPOSED LEASING SCHEDULE (W/INCREASES) $204,140

CAP RATE 5%

PROJECTED INCREASED PURCHASE PRICE $4,082,800

REALIZED INCREASE 7%

BROOKSHIRE 2019 PROPOSED LEASING SCHEDULE (STABILIZED)BROOKSHIRE JULY ‘17 - JUNE ‘18 NOI $190,820

CAP RATE 5%

PURCHASE PRICE $3,816,400NOI VIA 2019 PROPOSED LEASING SCHEDULE (STABILIZED) $208,820

CAP RATE 5%


REALIZED INCREASE 9.4%

BROOKSHIRE 2019 LEASING SCHEDULE- PROPOSED INCREASE TO $.97 PSFBROOKSHIRE JULY ‘17 - JUNE ‘18 NOI $190,820

CAP RATE 5%

PURCHASE PRICE $3,816,400

NOI VIA 2019 LEASING SCHEDULE- PROPOSED INCREASE TO $.97 PSF $221,035

CAP RATE 5%


REALIZED INCREASE 16%

THE UPSIDE STORY

*See the corresponding leasing schedules on the following pages

BROOKSHIRE 21

BRS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL INCREASE

1-A $930 $930 $930 $930 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,440 $640 1-B $930 $930 $930 $930 $930 $930 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,120 $960 1-C $920 $920 $920 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,570 $510 1-D $930 $930 $930 $930 $930 $930 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,120 $960 2-B $900 $900 $900 $900 $900 $900 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $11,940 $1,140 2-C $860 $860 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,620 $460 2-D $930 $930 $930 $930 $930 $930 $930 $930 $1,090 $1,090 $1,090 $1,090 $11,800 $640 3-A $910 $910 $910 $910 $910 $910 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $11,760 $840 3-B $930 $930 $930 $930 $930 $930 $930 $930 $930 $1,090 $1,090 $1,090 $11,640 $480 3-C $910 $910 $1,000 $1,000 $1,000 $1,000 $1,000 $1,050 $1,050 $1,050 $1,050 $1,050 $12,070 $430 3-D $880 $880 $880 $880 $880 $880 $880 $880 $880 $1,090 $1,090 $1,090 $11,190 $630 4-A $910 $910 $910 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $12,990 $690 4-B $920 $920 $920 $920 $920 $920 $920 $920 $1,090 $1,090 $1,090 $1,090 $11,720 $680 4-C $900 $900 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,700 $380 5-A $920 $920 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,740 $340 5-B $920 $920 $920 $920 $920 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,230 $850 5-C $960 $960 $960 $960 $960 $960 $960 $960 $960 $960 $1,090 $1,090 $11,780 $260 5-D $930 $930 $930 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,600 $480 6-A $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $8,760 $- 6-B $720 $720 $720 $720 $905 $905 $905 $905 $905 $905 $905 $905 $10,120 $740 6-C $720 $720 $720 $720 $720 $720 $830 $830 $830 $830 $830 $830 $9,300 $660 6-D $730 $730 $730 $730 $730 $840 $840 $840 $840 $840 $840 $840 $9,530 $550

TOTAL $19,620 $19,620 $20,300 $20,630 $20,975 $21,255 $22,015 $22,065 $22,395 $22,765 $22,895 $22,895 $257,430 $13,320

THE UPSIDE STORYBROOKSHIRE 2018 PROPOSED LEASING SCHEDULE (W/INCREASES)

BROOKSHIRE 22

THE UPSIDE STORY

0BRS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL ANN. INCREASE 1-A $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $640 1-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $960 1-C $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $510 1-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $960 2-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,140 2-C $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $460 2-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,280 3-A $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $12,600 $840 3-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,440 3-C $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $12,600 $530 3-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,890 4-A $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $13,680 $690 4-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,360 4-C $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $380 5-A $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $340 5-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $850 5-C $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,300 5-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $480 6-A $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $8,760 $- 6-B $905 $905 $905 $905 $905 $905 $905 $905 $905 $905 $905 $905 $10,860 $740 6-C $830 $830 $830 $830 $830 $830 $830 $830 $830 $830 $830 $830 $9,960 $660 6-D $840 $840 $840 $840 $840 $840 $840 $840 $840 $840 $840 $840 $10,080 $550

TOTAL $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $274,740 $18,000

BROOKSHIRE 2019 PROPOSED LEASING SCHEDULE (STABILIZED)

BROOKSHIRE 23

THE UPSIDE STORYBROOKSHIRE 2019 LEASING SCHEDULE - PROPOSED INCREASE TO $.97 PSF

BRS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL ANN. INCREASE 1-A $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,760 $1,320 1-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,590 $1,470 1-C $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,845 $1,275 1-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,590 $1,470 2-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,590 $1,650 2-C $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,930 $1,310 2-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $13,420 $1,620 3-A $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,350 $1,590 3-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $13,335 $1,695 3-C $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,350 $1,280 3-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $13,335 $2,145 4-A $1,140 $1,140 $1,140 $1,140 $1,140 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,925 $935 4-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $13,420 $1,700 4-C $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,930 $1,230 5-A $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,930 $1,190 5-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,675 $1,445 5-C $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $13,250 $1,470 5-D $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,845 $1,245 6-A $730 $730 $730 $730 $730 $730 $915 $915 $915 $915 $915 $915 $9,870 $1,110 6-B $905 $905 $905 $905 $915 $915 $915 $915 $915 $915 $915 $915 $10,940 $820 6-C $830 $830 $830 $830 $830 $830 $915 $915 $915 $915 $915 $915 $10,470 $1,170 6-D $840 $840 $840 $840 $840 $915 $915 $915 $915 $915 $915 $915 $10,605 $1,075

TOTAL $22,895 $22,895 $23,150 $23,320 $23,415 $23,610 $24,385 $24,385 $24,555 $24,725 $24,810 $24,810 $286,955 $30,215

BROOKSHIRE 24

COMPETITIVE RENT SURVEY

BROOKSHIRE 25

3-BEDROOM RENT SURVEY

PROPERTY PROPERTY UNITS AVG SIZE RENT/UNIT RENT/SF

BROOKSHIRE830 SOUTH 550 EAST

22 1,133 $902 $0.80

UNIVERSITY RIDGE HOMES1025 S UNIVERSITY BLVD

16 1530 $1,595 $1.04

FALCON ESTATES850 SOUTH 1000 EAST

4 1300 $1,055 $0.81

PINNACLE MTN VIEW1100 S 2000 E

48 1150 $1,348 $1.17

QUAIL COVE2090 N HILLFIELD RD

65 1019 $1,202 $1.18

FERNWOOD PLACE APTS1150 WEST 825 NORTH

18 1221 $1,151 $0.94

HEATHER ESTATES25 E 1800 S

74 1088 $1,085 $1.00

LAKEVIEW HEIGHTS1755 SOUTH 200 EAST

83 950 $885 $0.93

HIDDEN COVE APTS2075 N MAIN STREET LAYTON

24 1295 $1,129 $0.87

CLEARFIELD STATION1342 E 950 S

42 1306 1524 $1.17

AVERAGE 1,207 SF $1,219 $1.01

BROOKSHIRE 26

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KAYSVILLE

SYRACUSE

CLEARFIELD

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3-BEDROOM RENT SURVEYFALCON ESTATES850 South 1000 EastClearfield, Utah

Units: 4Avg. SF: 1,300 SFAvg. Rent: $1,055Rent / SF: $0.81

BROOKSHIRE830 South 550 EastClearfield, Utah

Units: 22Avg. SF: 1,133 SFAvg. Rent: $902Rent / SF: $0.80

UNIVERSITY RIDGE11025 S University Park BlvdClearfield, Utah


PINNACLE MOUNTAIN VIEW1100 S University Park BlvdClearfield, Utah


FERNWOOD PLACE APTS1150 West 825 NorthLayton, Utah


HEATHER ESTATES25 E 1800 SClearfield, Utah


LAKEVIEW HEIGHTS1755 South 200 EastClearfield, Utah

Units: 83Avg. SF: 950 SFAvg. Rent: $885Rent / SF: $0.93

HIDDEN COVE APTS2075 N Main Street Layton, Utah


CLEARFIELD STATION1342 S 950 EClearfield, Utah


QUAIL COVE2090 N Hillfield RdLayton, Utah


BROOKSHIRE 27

COMPARABLE SALES

BROOKSHIRE 28

COMPARABLE SALESPROPERTY ADDRESS UNITS BUILT SALE DATE PRICE cap rate PRICE / UNIT PRICE / SF AVG. SF

BROOKSHIRE830 SOUTH 550 EAST

CLEARFIELD, UT22 2003 N/A $3,816,400 5.0% $173,473 $153.00 1,101

HUNTINGTON APTS2001 SOUTH MAIN STREET

BOUNTIFUL, UT70 2011 10/4/2016 $11,690,000 5.2% $167,000 $150.31 1,111

EAST GATE AT GREYHAWK2925 NORTH CHURCH STREET

LAYTON, UT108 2012 6/15/2017 $17,350,000 6.0% $160,648 $159.00 1,010

VILLAGE ON MAIN STREET1525 NORTH MAIN STREET

BOUNTIFUL, UT192 2008 7/22/2016 $31,950,000 5.53% $166,406 $117.47 1,417

FOX CREEK APARTMENTS1656 NORTH 400 WEST

LAYTON, UT186 1985 3/9/2018 $24,125,000 4.98% $129,704 $157.78 842

624 EAST 5400 SOUTH TOWNHOMESMURRAY, UT

5 2017 3/15/2018 $1,999,000 5.65% $399,800 $255.99 1,582

AVERAGES $199,505 $165.59 1,177.17

Documents

CLEARFIELD, UTAH 84015 TOWNHOME PORTFOLIO ......CLEARFIELD, UTAH 84015 CHRIS FALK, CCIM, SIOR Principal, Executive Vice President [email protected] 801.416.1024 BRAXTON WILLIE Senior