- 429-Unit Portfolio Provides Immediate Scale In Blytheville & Forrest City, AR
- Well-Positioned Asset Primed For Value-Add Implementation
- Exceptional Basis Compared To Recent Sales
- Supply Constrained Markets Prime For Organic Rent Growth
- Ideally Situated Near Education, Medical, Grocery, & Retail
- Offered Free & Clear Of Existing Debt
429-Unit Portfolio Provides Immediate Scale in Blytheville & Forrest City, AR
Approximately 200 units in each market, the properties provide immediate scale and an opportunity to take advantage of operational efficiencies. The portfolio offers a buyer the opportunity to own 45% of the Forrest City inventory and 28% of the Blytheville inventory.
Well-Positioned Asset Primed for Value-Add Implementation
Recently, approximately 50% of the units have been renovated. Premiums on renovated units have seen upwards of $100/unit/month depending on location and finishes. Current owners have prioritized occupancy over maximizing NOI and comps in the market support clear rent upside. The remaining unrenovated units offer the opportunity for ample asset improvement with interior and exterior upgrades and modernization. New ownership can enter the acquisition at a low basis and achieve immediate equity through these improvements when coupled with stabilized operations.
Exceptional Basis Compared to Recent Sales
The properties are being offered at a highly attractive going in basis relative to recent trades across the immediate market and region. The properties are being offered well below replacement costs.
