- High-quality Construction with Market Leading Amenity Package
- Market Rents Below Competitive Subset | Upside of $520,000 at Stabilized Rents
- Significant Rental Increases of up to 5% on Lease Renewals
- Exceptional Lease-up Speaks to the Asset’s Desirability and Quality
- Strong Surrounding Demographic Profile
- Adjacent to Louisville’s Premier Employment Concentrations
- Strategic Location Near Employment, Retailers, and Highway Connectivity Offered Free and Clear of any Existing Debt
HIGH-QUALITY CONSTRUCTION WITH MARKET-LEADING AMENITY PACKAGE
Exceptionally high-quality construction is evidenced throughout Victory Knoll. The community offers a top-of-market resort-like amenity package and luxurious finishes throughout the unit interiors.
MARKET RENTS BELOW COMPETITIVE SUBSET | UPSIDE OF $520,000 AT STABILIZED RENTS
Current in-place rents are approximately $100 – $150 below the current market rents of competitive communities, thus affording the opportunity for a new owner to create substantial additional value in near-term renewals and turnover. The upside is clearly supported in recently signed leases as well as in the limited current concession offering.
SIGNIFICANT RENTAL INCREASES OF UP TO 5% ON LEASE RENEWALS
As the first round of leases begin to turnover, management is able to achieve $50 to $60 (4.0% to 5.0%) rent increases to existing in-place leases.
EXCEPTIONAL LEASE-UP SPEAKS TO THE ASSET’S DESIRABILITY AND QUALITY
Victory Knoll was delivered in early 2019 and experienced a phenomenal lease-up (during a global pandemic!) achieving stabilization in 24 months. The strong lease-up of roughly 20 units per month, is proof that there is strong demand for sophisticated suburban East End rental communities. The last phase of construction received CO in February 2021.
With the initial lease-up completed, a new investor can now focus on dialing in operations by increasing rents to current market levels and streamlining expenses.
