These are the type of properties America 2030™ seeks to purchase as syndicated investments. None of the properties on this page were purchased, sold, brokered or otherwise controlled, managed or owned by America 2030™, nor does America 2030™ make any representation that buildings such as these could be purchased by the fund.

356-Unit Class AAA Garden Style Multifamily Community - Naples, Florida
 

 356-Unit Class AAA Garden Style Multifamily Community - Naples, Florida

 Project Overview: Sample Property F was built in 2003 and is a 356-unit, class AAA, garden-style apartment community in a prime location within the Naples, Florida market. This upscale rental community provides residents with spacious floor plans and an abundance of luxurious amenities. The property offers a diverse unit mix with one, two, three, and four bedroom floor plans with and average size of 1,046 square feet.

Project Location: The Sample Property F is extremely well positioned in Naples’ Collier County with easy access to upscale shopping, dining, championship golf courses, Gulf beaches, and major roadways including Interstate 75 and Immokalee Road. Of particular value is the property’s proximity to major retailers. Directly adjacent to the property is a brand new SuperSample anchored shopping plaza, completed less than a year ago. Surrounding the property are several prominent golf and country clubs. Southwest Florida International Airport is less than twenty-five miles from the property.

Property Purchase Price: $43,720,000

Potential Equity Investment: $14,785,000

Investment Analysis Summary:

• Institutional Quality Asset. Sample Property F is a class AAA, 356-unit apartment community located in Naples, Florida. The property was built in 2003 and features solid, concrete block construction with painted stucco exteriors and barrel tile roofs. This exceptionally maintained property is further enhanced by tropical landscaping and three sparkling lakes that provide exceptional views for tenants.
• Value-Added Investment. The property was purchases in 2005 as a condominium conversion exit strategy, and as a result all by 32% of the residents where removed from the property. In the spring of 2006, the Naples Florida market experienced diminished demand for condos causing the current owners to abandon their exit strategy and re-lease the complex at reduced rates. Over a year and a half period, the property has been re-leased to an 85% occupancy with average rents of $1,197.
• Competition. As of 3Q’07, the Collier County apartment market consisted of 7,899 units with
  an average occupancy, rent, and rent/square foot of 87%, $1,002, and $1.10, respectively. The Sample Property F has a current average occupancy, rent, and rent/square foot of 82%, $1,197, and $1.14, respectively. The primary competitors of the property have an average occupancy and rent/square footage of 82% and $1.06, respectively. The Sample Project F offers the largest units by square footage and the second highest rental rates compared to its peers.
• Strong Demographics. The population within one mile of the property has experienced tremendous growth since 2000, increasing at an annual rate of 13%, nearly three times the MSA’s annual growth rate and almost five times Florida’s annual growth rate for the same period. Growth is anticipated to continue at an annual rate of 7.1% over the next five years. The 2007 estimated average household income is $134,719 and approximately 15.1% of the total population occupying rental units.

These are the type of properties America 2030™ seeks to purchase as syndicated investments. None of the properties on this page were purchased, sold, brokered or otherwise controlled, managed or owned by America 2030™, nor does America 2030™ make any representation that buildings such as these could be purchased by the fund.