Hillsdale Sample Clauses

Hillsdale. Hillsdale is a 93 unit apartment complex in Topeka, KS. This asset is stable and provides the portfolio with a source of steady cash flow throughout the life of the investment. Hillsdale and Prospect Hills are joint-managed to create economies of scale. Opportunity At Hillsdale, with only renovations of $5,795 average per unit Southwestern can realize rent increases of up to $200 per unit yielding a renovation ROI of 41.91%, a leveraged IRR of 50.11% and partnership IRR of 28.47% over a planned 3 year hold period. Asset Hillsdale Apartments consists of 93 apartment units among two-story residential buildings. The complex was constructed in 1978 and is comprised of studio, one, two, and three bedroom floorplans. Community amenities of the complex include high-speed internet and cable television equipped units, a pool, a clubhouse that includes the leasing office, business center, and community space. Package delivery lockers, a bike workshop, a dog park, community kitchen, and a dog wash are planned amenity additions after closing on this transaction. The asset is in good condition with well-constructed buildings. However, the unit finishes are vintage and in need of an update in order to better realize market potential rents. We intend to renovate the units and increase the community amenity package which will result in higher rents equal to those of surrounding communities. However, even without renovation, this property provides an excellent cash return. Financial A loan of $3.16MM equates to a loan exposure of $33,978 per unit at 55.41% loan to total project cost based on a project cost of $5.7MM. We anticipate renovating 40 units in year one and 26 units in year 2. The Property is underwritten at current market rates which are expected to increase by delivery. The Sponsor believes that the projected market value of the Property will be $7.14MM by the end of the fourth year, based upon a 7% exit capitalization rate. Topeka Topeka MSA, Kansas Topeka, the state capitol of Kansas, is situated along the Kansas River in northeast Kansas. The metropolitan area is comprised of Shawnee County, Jefferson County, and Osage County. Topeka’s economic base is well diversified and specializes in Public Administration, Healthcare and Social Assistance, and Management of Companies and Enterprises. Over the last five years, employment has increased by 0.5% annually on average.1
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Hillsdale. Vendor's Principal Place of Business (State) In what state is Vendor's principal place of business located?
Hillsdale. Evaluate the benefits as compared to the costs and travel time losses of directly or indirectly serving the town center and look at enhanced pedestrian/bicycle connections from Barbur Boulevard.

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