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Four Park Investment
Portfolio
NAI Harding DahmNAI Harding Dahm Multifamily GroupMultifamily Group
Four (4) Successful
Mobile Home Communities
Danville and Campbellsvile, Kentucky
Contact Information Darrell E Watson Multifamily Specialist 118 E. Ludwig Road, Suite 100 Fort Wayne, IN 46825 office 260-423-4311 ext 318 mobile 260-804-3093 email [email protected] www.naimultifamilygroup.com
Money Making Parks
Upside on Each Park
Turn Key Operations
On Site Management
Security Systems
Who We Are
NAI Multifamily professionals offer a comprehensive menu of
Multifamily real estate services, including:
■ Investment property acquisition and disposition ■ Valuation and appraisal
■ Feasibility studies
■ Market research
■ Property management
■ Consulting
■ Renovation management
■ Construction management
■ Mixed-use development
■ Plan development
■ Site selection
■ Refinancing
The NAI Multifamily Group provides a broad array of specialized services to apartment property owners, developers and investors locally and around the world. Our seasoned professionals have extensive experience catering to the specific needs of entrepreneurial owners, private equity investors, financial institutions and REITs (Real Estate Investment Trust). Clients can depend on our established and consistent expert approach to services. We have extensive relationships with the most active buyers, sell-ers and operators in the multifamily sector, and the local market knowledge and insight that areessential to our clients’ success. Whether it is working with an investor to identify acquisition opportunities or with an owner to market a property or portfolio, we bring unparalleled resources to the task. Our proprietary technology platform, featuring REALTrac™ Online, gives clients access to powerful transaction management tools, and is one of the principal reasons our clients choose NAI again and again. When marketing properties, our exclusive E-Offerings™ provides an efficient and effective channel to reach buyers, minimizing time on market. As part of NAI Global, The NAI Global Multifamily Group is connected to the premier global real estate services platform, a managed network with 5,000 professionals and 350 offices in over 45 countries worldwide. NAI profes-sionals complete over $40 billion in transactions annually. Whether your needs, are local, national or global, we invite you to build your business on the power for our network.
Contact Information Darrell E Watson Multifamily Specialist office 260-423-4311 ext 318 mobile 260-804-3093 email [email protected] www.naimultifamilygroup.com
Area for large photo
Our Clients:
a ■ AIMCO ■ AMERSCO ■ Archon Residential Management ■ Archstone-Smith Operating Trust ■ AvalonBay Communities, Inc. ■ Ballast Point Development ■ Barfield Bay Communities ■ Bascom Northwest Properties ■ Camden Property Trust ■ Carbon Mesa Advisors ■ Carmel Partners, LLC ■ Casden Company ■ Castle Berne Corporation ■ Chad Nic Properties LLC ■ Chandler Partners ■ Cottonwood Capital ■ Crosland ■ Dinerstein Company ■ Equity Residential ■ Essex Property Trust ■ Fairfield Residential, LLC
■ Field Stone Properties ■ Home Savings of America ■ Horizon Realty Advisors ■ Jackson Square Properties ■ LA Community Design Center ■ Landmark Residential ■ Lane Development ■ Lincoln Property Company ■ Mid-America Apartment Communities ■ Miles Development ■ Orion Residential ■ Pacific Property Company ■ Palmcrest Realty Corporation ■ Park Place Fund Ltd. ■ PC Investments, Inc. ■ Pines Development LLC ■ Pinnacle, an American Services Company ■ RK Properties ■ RTC ■ Sentinel Real Estate Corp. ■ SunAmerica Investments, Inc ■ Wood Partners
We are proud to provide comprehensive services to many of the nation’s most prestigious developers, owners, investors, REITs, advisory firms and institutions. We can compe-
tently handle large portfolio dispositions as well as single-asset sales.
Contact Information Darrell E Watson Multifamily Specialist office 260-423-4311 ext 318 mobile 260-804-3093 email [email protected] www.naimultifamilygroup.com
Portfolio SummaryPortfolio Summary
PROPERTY LOCATION NO. PADS / LOT SIZE
2009 PROJECTED NOI 2009 PROJECTED CAP
ASKING PRICE
Arrowhead Ranch 2319 Greensburg Road (Highway 68) Campbellsville, KY
58 Pad Site 35.6 Acres
$87,847.79 9.44%
$930,000
Green River Lake Commons 151 Smith Ridge Road Campellsville, KY
59 Pad Site 12 Acres
$105,113.79 9.73%
$1,050,000
Oakview Commons 100 York Lane Danville, KY
68 Pad Site 12Acres
$152,380.45 10.13%
$1,471,200
Pine Grove 112 Factory Lane Danville, KY
11 Pad Site .7 Acres
$17,593.82 7.41%
$230,000
Total Sites (196) 65.3 Acres $362,935.85 $3,681,200
DISTANCES GREEN RIVER COMMONS OAKVIEW COMMONS PINE GROVE
Arrowhead 6.4 Miles 50.5 Miles 53.6 Miles
Green River Commons 0 Miles 50 Miles 53.1 Miles
Oakview Commons 50 Miles 0 Miles 4.1 Miles
ARROWHEAD RANCH
0 Miles
6.4 Miles
50.5 Miles
Pine Grove 53.6 Miles 53.1 Miles 4.1 Miles 0 Miles
Four Successful Mobile Home Communities
Danville and Campbellsvile, Kentucky
All Money Making Parks
Upside on Each Park
Turn Key Operations
On Site Reliable Management
Security Systems / Connected to Internet
Featured Listing Featured Listing
This park is very stable. Many of the residents have been with Arrowhead for decades. Because of that income is very predictable. Even though over time the lease options will mature, the income should never drop because the lot rent will go up as rents are raised 3% a year. Upside!! The park is ready for expansion of 44 more pads with water and sewer already in place. There is also a 30’x 50’ Pole Building that could be leased out or converted to retail type business. There are three acres of commercial frontage that could be developed into a nice NNN strip center or convenience store for more income.
Highlights Include: ■ Money making property ■ Complete state of the art Security System hooked up to the internet—so you can operate for from anywhere ■ Reliable and honest onsite Management in place ■ Roads are paved and County maintained Campbellsville is a city in Taylor County, Kentucky. According to 2007 statistics, the city had a 23,783 urban population and an 169,750 Labor Market Area population. It is the County Seat and an economic Hub for several Counties. Strategi-cally located between KY’s top three cities – Louisville, Lexington and Bowling Green. Every Corvette ever made was made with pride in Bowling Green, KY. Job opportunity is great for your tenants. Many new businesses have recently come to the area including: Lowes, Amazon, Wal-Mart Super Center, several large Grocery Stores and a three story Holiday Inn to name just a few. These major companies all do their demographic studies and they know the growth and stability that Campbellsville is having and will continue to have. With the discovery of tax in-centives, low cost of living, high quality of living, low industrial utility costs and low-cost labor plentiful (meaning no lack of residents for affordable housing), all the new business and jobs coming to town there is an expected job growth and stable economy for decades to come.
The information contained herein has been given to us y the owner of the property or other sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
Arrowhead Ranch Mobile Home Community 2319 Greensburg Road (State Road 68)
Campbellsville, Kentucky
ANNUALIZED OPERATING DATA
INCOME 2008 2009
Gross Potential Rent $87,000.00 $100,920.00
Gross Potential Income $41,940.00 $41,940.00
Less: Vacancy/Deductions $40,449.00 $21,429.00
Effective Gross Income $88,491.00 $121,431.00
Net Operating Income $68,527.77 $87,847.79
Reserves $2,900.00 $2,900.00
Net Cash Flow Before Debt Ser-vice
$65,627.77 $84,947.79
Debt Service ($52,239.54)
Net Cash Flow After Debt Service $35,608.25
Total Return 19.14%
EXPENSES
Real Estate Taxes $3,033.00 $3,033.00
Insurance $1,999.05 $2,059.02
On-Site Management $1,500.00 $2,000.00
Off-Site Management $1,900.00 $6,170.00
Repairs & Maintenance $3,553.71 $3,910.00
General & Administrative $390.02 $405.00
Legal & Accounting $1,424.75 $1,467.49
Advertising $1,158.93 $1,193.69
Miscellaneous $0 $8,000.00
Utilities $5,003.75 $5,254.00
TOTAL EXPENSES $20437.79 $33,492.00
EXPENSES/SPACE
% of EGI 23% 27%
PRICING & FINANCIALPRICING & FINANCIAL ANALYSISANALYSIS
No. of Spaces Space Type 2009 Rents Monthly Income
58 Rentable Pads / $125 $8,410.00
23 Park Owned $225—$400 $3,495.00
1 Metal Storage Bldg. (30’ x 60’) Vacant Possible $500.00
The information contained herein has been given to us y the owner of the property or other sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
LOCATION
Arrowhead Ranch, Campbellsvile, Kentucky
Price $930,000.00
Down Payment $186,000.00
Number of Spaces 58
Price / Space $16,034.48
CAP Rate—2008 7.37%
CAP Rate—2009 9.45%
Lot Size 35.6 Acres
Type of Ownership Private
FINANCING
FIRST TRUST DEED
Loan Amount $744,000.00
Loan Type Fannie Mae
Interest Rate 6.25 %
Amortization 30
Loan to Value 80%
Loan information is time sensitive and subject to change. Contact your local NAI Harding Dahm Representative
Featured Listing Featured Listing
This park is very stable. Many of the residents have been with Green River Lake Commons for decades. Because of that income is very predictable. Even though over time the lease options will expire, the income should never drop because the lot rent will go up as rents are raised 3% a year. Upside ! The park is ready for expansion of Phase III with 60 more pads with water and sewer already in place, Fifth park owned home has just be added for an increase in revenue.
Highlights Include:
■ Money making property ■ Complete state of the art Security System ■ Reliable and honest onsite Management in place Campbellsville is a city in Taylor County, Kentucky. According to 2007 statistics, the city had a 23,783 urban population and an 169,750 Labor Market Area population. It is the County Seat and an economic Hub for several Counties. Strategically Located between KY’s top three cities – Louisville, Lexington and Bowling Green. Every Corvette ever made was made with pride in Bowling Green, KY. Job opportunity is great for your tenants. Many new businesses have recently come to the area including: Lowes, Amazon, Wal-Mart Super Center, Several large Grocery Stores and a three story Holiday Inn to name just a few. These major companies all do their demographic studies and they know the growth and stability that Campbellsville is having and will continue to have. With the discovery of tax in-centives, low cost of living, high quality of living, low Industrial Utility costs and low-cost labor plentiful (meaning no lack of residents for affordable housing), all the new business and jobs coming to town there is an expected job growth and stable economy for decades to come.
The information contained herein has been given to us y the owner of the property or other sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
Green River Lake Commons 151 Smith Ridge Road
Campbellsville, Kentucky
ANNUALIZED OPERATING DATA
INCOME 2008
2009
Gross Potential Rent $60,748.28 $102,660.00
Gross Potential Income $11,820.00 $11,820.00
Less: Vacancy/Deductions $9524.33 $1,740.00
Effective Gross Income $63,043.95 $118,650.00
Net Operating Income $52,012.26 $105,113.79
Reserves $2,950.00 $2,950.00
Net Cash Flow Before Debt Ser-vice
$102,163.79
Debt Service ($58,980.13)
Net Cash Flow After Debt Service $46,133.66
Total Return 21.96%
EXPENSES
Real Estate Taxes $2,901.00 $2,901.00
Insurance $479.00 $493.37
On-Site Management $1,750.00 $1,850.00
Off-Site Management $0 $0
Repairs & Maintenance $906.41 $2,600.00
General & Administrative $39.00 $150.00
Legal & Accounting $664.50 $900.00
Advertising $299.32 $475.00
Miscellaneous $474.58 $550.00
Utilities $3,424.88 $3,526.72
TOTAL EXPENSES $10,938.69 $13,446.09
EXPENSES/SPACE
% of EGI 18.01% 11.41%
PRICING & FINANCIALPRICING & FINANCIAL ANALYSISANALYSIS
No. of Spaces Space Type 2009 Rents Monthly Income
59 Rentable Pads $125.00 $8,555.00
5 Park Owned Homes $225—$400
The information contained herein has been given to us y the owner of the property or other sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
LOCATION
Green River Lake Commons, Campbellsvile, KY
Price $1,050,000.00
Down Payment $210,000.00
Number of Spaces 59
Price / Space $17,796.61
CAP Rate—2008 4.96% (Represents 1/2 year)
CAP Rate—2009 10.01%
Lot Size 17 Acres
Type of Ownership Private
FINANCING
FIRST TRUST DEED
Loan Amount $840,000.00
Loan Type Fannie Mae
Interest Rate 6.25 %
Amortization 30
Loan to Value 80%
Loan information is time sensitive and subject to change. Contact your local NAI Harding Dahm Representative
Featured Listing Featured Listing
This park is very stable. Many of the residents have been with Oakview for decades. Because of that income is very predictable. Even though over time the lease options will expire, the income should never drop because the lot rent will go up as rents are raised 3% a year. Upside!! Potentially add an additional six acres available for expansion.
Highlights Include: ■ Money making property ■ Complete state of the art Security System hooked up to the internet ■ Reliable and honest onsite Management in place ■ Roads are paved and County maintained Danville is approximately 20,000 people. It is also a hub to 19 counties, drawing in many tens of thousands to shop, dine and for our services, such as our commercial stores, medical facilities and colleges. Time Magazine has featured Danville / Boyle County, Kentucky, as one of the successful small towns in America! Danville/Boyle County is know for outdoor recreation, historical attractions, antique shopping, quaint restaurants and charming bed-and-breakfasts . Lake Herrington is just on the other side of Danville - great place to boat, jet-ski, fish, waterski, etc - the lake is 32 miles long and just 10 minutes away. This area still holds on to the small town values that make it a great place to raise a family, have a business or live economically in retirement. Danville, is also home to one of Kentucky's best colleges, Centre College, the Harvard of KY. Centre is home to Norton Center For The Arts and hosts the site of The Great American Brass Band Festival (GABBF), an annual event that alone draws over 50,000 people each year. Panasonic, Caterpillar, Hobart, R.R. Donnelly (one of the larg-est printers in the world), American Greetings, and Ephraim McDowell Regional Medical Center are just a few of the compa-nies that have chosen to do business in Danville.
The information contained herein has been given to us y the owner of the property or other sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
Oakview Commons Mobile Home Community 100 York Lane
Danville, Kentucky
ANNUALIZED OPERATING DATA
INCOME 2008 2009
Gross Potential Rent $116,580.00 $132,660.00
Gross Potential Income $50,309.04 $50,309.04
Less: Vacancy/Deductions $18,092.04 $10,000.00
Effective Gross Income $148,797.05 $172,969.04
Net Operating Income $132,416.06 $152,380.45
Reserves $3,400.00 $3,400.00
Net Cash Flow Before Debt Service $129,016.06 $102,163.79
Debt Service ($82,639.58)
Net Cash Flow After Debt Service $69,740.87
Total Return 23.70%
EXPENSES
Real Estate Taxes $3,837.00 $3,837.00
Insurance $1,883.74 $1,939.49
On-Site Management $1,740.00 $1,900.00
Off-Site Management 0$ $0
Repairs & Maintenance $2,614.87 $2,750.00
General & Administrative $2,538.00 $2,614.14
Legal & Accounting $2,678.00 $1,490.00
Advertising 1,203.00 $1,950.00
Miscellaneous $968.32 $997.07
Utilities $1,315.53 $1,354.99
TOTAL EXPENSES $18,779.46 $18,833.69
EXPENSES/SPACE
% of EGI 13% 11%
PRICING & FINANCIALPRICING & FINANCIAL ANALYSISANALYSIS
The information contained herein has been given to us y the owner of the property or other sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
LOCATION
Oakview Commons, Danville, KY
Price $1,471,200.00
Down Payment $294,240.00
Number of Spaces 64
Price / Space $21,635.29
CAP Rate—2008 9.00%
CAP Rate—2009 10.36%
Lot Size 12 Acres
Type of Ownership Private
FINANCING
FIRST TRUST DEED
Loan Amount $1,176,960.00
Loan Type Fannie Mae
Interest Rate 6.25 %
Amortization 30
Loan to Value 80%
Loan information is time sensitive and subject to change. Contact your local NAI Harding Dahm Representative
No. of Spaces Space Type 2008 Rents Monthly Income
64 Rentable Pads $145 — $160 $11,055.00
21 Park Owned $225 — $400 $4,192.42
Featured Listing Featured Listing
This park is very stable. Many of the residents have been with Pine Grove for decades, some are even multi-generational.. Because of that income is very predictable. Even though over time the lease options will expire, the income should never drop because the lot rent will go up as rents are raised 3% a year. The income stream should be consistent and stable. Upside!! Fill the existing vacant pads with used homes and sell on Notes/Lease Options. That will increase the NOI from $18,190 to $21,790, a 20% increase income.
Highlights Include:
■ Money making property ■ Complete state of the art Security System installed ■ Micro-Management in place Danville is approximately 20,000 people. It is also a hub to 19 counties, drawing in many tens of thousands to shop, dine and for our services, such as our commercial stores, medical facilities and colleges. Time Magazine has featured Danville / Boyle County, Kentucky, as one of the successful small towns in America! Voted # 3 Best Places to Live in Rural America in the most recent polls. Top 10 in the Southeast in last year's poll. Danville/Boyle County is know for outdoor recreation, historical attractions, antique shopping, quaint restaurants and charming bed-and-breakfasts . Lake Herrington is just on the other side of Danville - great place to boat, jet-ski, fish, waterski, etc - the lake is 32 miles long and just 10 minutes away. This area still holds on to the small town values that make it a great place to raise a family, have a business or live economically in retirement. Danville, is also home to one of Kentucky's best colleges, Centre College, the Harvard of KY. Centre is home to Norton Center For The Arts and hosts the site of The Great American Brass Band Festival (GABBF), an annual event that alone draws over 50,000 people each year. Panasonic, Caterpillar, Hobart, R.R. Donnelly (one of the largest printers in the world), American Greetings, and Ephraim McDowell Regional Medical Center are just a few of the companies that have chosen to do business in Danville.
The information contained herein has been given to us y the owner of the property or other sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
Pine Grove Community 112 Factory Lane Danville, Kentucky
ANNUALIZED OPERATING DATA
INCOME 2008 2009
Gross Potential Rent $16,250.00 $19,800.00
Gross Potential Income $14,877.00 $14,877.00
Less: Vacancy/Deductions $1,250.00 $1,500.00
Effective Gross Income $29,877.00 $33,177.00
Net Operating Income $15,226.14 $17,593.82
Reserves $550.00 $550.00
Net Cash Flow Before Debt Service $14,676.14 $17,043.82
Debt Service ($12,919.46)
Net Cash Flow After Debt Service $4,674.36
Total Return 9.84%
EXPENSES
Real Estate Taxes $1,364.00 $1,364.00
Insurance $920.00 $920.00
Off-Site Management $0 $0
Repairs & Maintenance $3,344.25 $6,827.42
General & Administrative $0 $150.00
Legal & Accounting $117.00 $200.00
Advertising $0 $0
Miscellaneous $391.09 $550.00
Utilities $5,337.65 $1,601.00
TOTAL EXPENSES $11,473.99 $11,612.42
EXPENSES/SPACE
% of EGI 38% 35%
PRICING & FINANCIALPRICING & FINANCIAL ANALYSISANALYSIS
The information contained herein has been given to us y the owner of the property or other sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
LOCATION
Pine Grove, Danville, KY
Price $230,000.00
Down Payment $46,000.00
Number of Spaces 11
Price / Space $20,909.09
CAP Rate—2008 6.62%
CAP Rate—2009 7.41%
Lot Size .7 Acres
Type of Ownership Private
FINANCING
FIRST TRUST DEED
Loan Amount $184,000.00
Loan Type Fannie Mae
Interest Rate 6.25 %
Amortization 30
Loan to Value 80%
Loan information is time sensitive and subject to change. Contact your local NAI Harding Dahm Representative
No. of Spaces Space Type 2009 Rents Monthly Income
11 Rentable Pads $300.00 $1,650.00
10 Park Owned Homes $225—$400 $1,239.75
The information contained herein has been given to us y the owner of the property or other sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
Build on the power of our network
NAI Multifamily Group is a dedicated team of Brokers with a high de-gree of sales, repositioning and financing in the Multifamily industry.
If you have properties that coming to market , need repositioned or are considering increasing your portfolio. Our team is
here to assist you
Contact Information Darrell E Watson Multifamily Specialist 118 E. Ludwig Road, Suite 100 Fort Wayne, IN 46825 office 260-423-4311 ext 318 mobile 260-804-3093 email [email protected] www.naimultifamilygroup.com