- Stabilized Student Offering Featuring Attractive Value-Add Upside Potential
- Extremely Attractive Assumable Fixed Debt – High-Leverage & Below-Market Rate
- Offered At A Low Basis – Significantly Below Current Replacement Cost
- 330 Units Offer Immediate Scale For New Entrants Into The Macomb Market
- Being Sold By The Original Local Developer – Consistent Local Ownership For 17+ Years
- Meticulously Maintained – New Roofs, Zero Deferred Maintenance, Proven Unit Upgrade Program
- Very Conservative In-Place Owner-Operator
- Exceptional Location Within Walking Distance Of WIU
Stabilized Student Offering Featuring Attractive Value-Add Upside Potential
Aspen Court offers strong current and historic occupancy with significant rental upside proven both on-site and at other assets in the market. The fully-amenitized community is extremely clean and well-maintained, giving new ownership the opportunity to focus any capital expenditures on revenue-generating upgrades and operational efficiencies.
Extremely Attractive Assumable Fixed Debt – High Leverage & Below-Market Rate
Aspen Court is being offered with assumable non-recourse financing in-place with favorable terms including a 5.10% rate, 30-year amortization, and a current balance of $13,948,690. This in-place financing will allow new ownership to generate strong cash returns from day one. Please see OM for additional information on the in-place debt.
Offered at a Low Basis – Significantly Below Current Replacement Cost
The asset is being sold at a basis that is a fraction of what it would cost to build the property today. This attractive going-in basis will allow the new investor to feel comfortable investing additional value-add capital into the community while maintaining a very comfortable all-in basis in the asset.
330 Units Offer Immediate Scale for New Entrants into the Macomb Market
Aspen Court provides an investor new to the Macomb market an opportunity to obtain an immediate and significant foothold with a single transaction – or will add efficiencies for existing owners – all while generating ideal economies of scale and maximum operating efficiencies within a single property.
