GEM_on_the_Green__Fatima_on_the_Green_Package 07.15 (1).pdf

7/23/2019 GEM_on_the_Green__Fatima_on_the_Green_Package 07.15 (1).pdf

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| EXCLUSIVE MULTIFAMILY OFFERING

Same Ownership and Management for 40+ Years

Exceptional, Value-Add Opportunity

Meticulously Maintained Properties

Offered as a Package or Individually

KEN ASTONManaging Director

[email protected]

ANDREA KENDRICKssociate Director

[email protected]

For Real-Time Property Information go to:FatimaGermania.BerkadiaREA.com

a Berkshire Hathaway and Leucadia National company

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INVESTMENT SALES

KEN ASTON

Managing Director

636.391.3911

[email protected]

ANDREA KENDRICK

Associate Director636.391.3911

[email protected]

St. Louis Office

12444 Powerscourt Drive

Suite 410

St. Louis, Missouri 63131

Phone: 636.391.3911

Fax: 636.391.3914

Berkadia.com

FINANCING

MICHAEL DUGGAN

Senior Director

314.984.5515

[email protected]

Same Ownership & Management for 40+Years

Exceptional Value-Add Opportunity

Meticulously Maintained Properties

Offered as a Package or Individually

For Real-Time Property InformationScan QR code or go to: FatimaGermania.BerkadiaREA.com


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OPPORTUNITY

Opportunity 1

THE ASSETS

Property Summary 2

Location Description 3

Location Map 4

Aerials 5

Property Photos 9

FATIMA ON THE GREEN VALUATION

Pro Forma Income & Expenses 11

GEM ON THE GREEN VALUATION

Pro Forma Income & Expenses 12

MARKET POSITIONING

Comparable Rental Properties 13

APPENDIX

St. Louis Economic & Demographic Overview 16

Demographics 26

Market Reports 34

GEM ON THE GREEN & FATIMA ON THE GREENFatimaGermania.BerkadiaREA.com


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OPPORTUNITY

Berkadia Real Estate Advisors, is pleased to offer for sale GEM on the Green and Fatima on the Green, a combined 172

units located in South St. Louis County and City. GEM on the Green features 112 units and Fatima on the Green includes 60

units.

Both properties were built in 1965 and are owned and managed by only the second owner since they were developed. Both

properties have been meticulously maintained and professionally managed for over 40 years. GEM and Fatima offer an

investor a unique, value-add opportunity through renovating unit interiors to achieve a rent premium in the neighborhood.

All tours must be scheduled through the exclusive listing agent, Andrea Kendrick or Ken Aston. Please do not disturb tenants

or management.



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PROPERTY SUMMARY

PROPERTY DESCRIPTION

Number of Units 172

Year Built 1965

Metering Individual Electric and Gas

Parking Assigned Surface

Total SF Fatima - 43,200 / GEM - 62,800

Average SF Fatima - 720/SF / GEM - 561/SF

Type of Buildings Two-Story, Garden-Style, BrickBuildings

Roofs Pitched Hip

Market Rent Fatima - $625 / GEM - $499

Rent / SF Fatima - $0.87/SF / GEM - $0.89/SF

Fatima on the Greenhas long enjoyed the benefit

of its location at Union Road and Fatima Drive in

south St. Louis County. This senior-only community

consists of 15 four-unit buildings which were built in

1965 and sit on 2.95 +/- of beautifully

landscaped acres. The buildings are constructed of

brick with pitched hip design roofs. The entry foyers

and stairs have beautiful terrazzo flooring. Utilities

are individually metered electric and gas. Each

building has a full basement containing oversized,

private storage lockers and washer/dryer

connections.

Each apartment home has a large eat-in kitchen,

new energy-efficient windows and reserved parking behind the building.

GEM on the Greenis located at the intersection of Morganford Road and Germania Street in the convenient area of

southwest St. Louis City. The property consists of eight buildings with a total of 112 one- and two-bedroom apartments. GEM

on the Green is directly across the street from River Des Peres Greenway Trail for walking and biking, which is a great amenity

for residents. These buildings are also constructed of brick with pitched hip design roofs and have full basements with storage

lockers and coin-operated washers and dryers.

Residents at both properties enjoy a courtesy shuttle bus to area shopping, day trips to local attractions, and a complimentary

bi-weekly exercise class.



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LOCATION DESCRIPTION

GEM on the Green and Fatima on the Greens location in

south St. Louis provides excellent access to Interstate 55 and

270 throughout the entire St. Louis Metro Area. Lambert St.

Louis International Airport is about a half hour from the

properties.

Nearby Carondelet Park is one of the big draws to the

neighborhood and sits on about 180 beautifully landscaped

acres. It ranks as St. Louis third-largest park and features a

beautiful boathouse, rec-center and pool, walking paths,

tennis courts, ball fields, and playgrounds.

Downtown St. Louis is approximately 10 minutes from GEM

on the Green and Fatima on the Green and is home to over

1,600 businesses and nearly 90,000 jobs. Downtown offers

the highest concentration of legal, financial, government,

and creative businesses in the region. Over $5 billion has

been invested in downtown St. Louis since 2000. There is a

daily population of 133,000+. Recent developments

include Ballpark Village across from Busch Stadium, home

of St. Louis Cardinals baseball, the Peabody Opera House,

St. Louis Public Library, City Arch River, and Union Station.

There are a number of Fortune 1000 headquarters in

downtown St. Louis including Ameren, Anthem Blue

Cross/Blue Shield, AT&T, Anheuser Busch-Inbev, Bank of

America, Fleishman Hillard, HOK, Ralcorp, Nestle Purina,

Peabody Energy, Stifel, U.S. Bank, and Wells Fargo Advisors.

Eat-In KitchenElectric AppliancesTile Floors (Bath/Kitchen)Wall-to-Wall CarpetLarge BedroomsPlantation Blinds and Lined DrapesLarge, Private Storage LockersCeiling FansCable/Internet Ready

Extraordinary MaintenanceLaundry Facility in BasementPicnic Area

Valet RecyclingReserved ParkingResident Day TripsCourtesy Shuttle Bus to Area ShoppingComplimentary, Bi-Weekly Exercise ClassSecured Buildings

UNIT AMENITIES

COMMON AREA AMENITIES



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LOCATION MAP



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AERIALS



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AERIALS



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AERIALS



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AERIALS



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PROPERTY PHOTOS



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PROPERTY PHOTOS



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PRO FORMA INCOME & EXPENSES

GERMANIA ON THE GREEN & FATIMA ON THE GREENFatimaGermania.BerkadiaREA.com


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PRO FORMA INCOME & EXPENSES



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COMPARABLE RENTAL PROPERTIES



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ST. LOUIS ECONOMIC & DEMOGRAPHIC OVERVIEW



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DEMOGRAPHICS



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DEMOGRAPHICS



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DEMOGRAPHICS



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DEMOGRAPHICS



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DEMOGRAPHICS



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DEMOGRAPHICS



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DEMOGRAPHICS



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DEMOGRAPHICS



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ST. LOUISFIRST QUARTER 2015

VACANCY & RENT PERMITS & DELIVERIES EMPLOYMENT GROWTH

VACANCY & RENT COMPARISON

St. Louis headcounts grew by 18,300 positions, or 1.4% annually, up from the 0.7% growth in the preceding year. The education andhealth services sector provided an outsized boost, with 4,700 additions since March of 2014. Medical Transportation Management Iadded 140 jobs to the sector. Hiring was also robust in the trade, transportation and utilities segment with 4,500 new jobs. Overallgrowth was tamped down by the 1,900 government positions eliminated, the only employment sector to contract in the last year.

St. Louis unemployment was 5.5% at the end of the first quarter, matching the national average. The St. Louis rate was down 170 bapoints from one year ago.

The median existing single-family home price advanced 4.2% year over year to $143,600 by the end of the first quarter of 2015. Vaincreased annually since 2013. Buyers were not deterred by the rise as sales accelerated 10.8% from one year ago to 64,500annualized transactions in March of 2015.

Heightened rental demand led to the 380 newly occupied apartments in the last three months. Leasing activity shifted positive from thnegative absorption of 1,640 units in the fourth quarter of 2014. A total of 980 units were absorbed in the last 12 months.

The completion of the 82-unit Central West End City II apartment community in the St. Louis City North submarket accounted for all 3units that came online across the metro in the first quarter. An additional 460 apartments are scheduled to come online by year-end.

Developers filed permits for 990 multifamily units in the last three months. Permitting activity was up from the 950 submissions duringsame time in 2014. Simultaneously, single-family requests advanced from 1,020 permits last year to 1,070 submissions in the firstquarter of 2015.

Vacancy lowered 20 basis points to 7.1% as rental demand exceeded apartment additions in the first quarter. The rate decreased 40basis points from one year ago. Vacancy was tightest in the East of I-44 submarket at 3.2% following a 190-basis-point year-over-yedrop.

At $895 per month in March, rents advanced 0.5% since December. The increase was part of a 2.6% annual rise in average asking Operators scaled back concessions to four days of free rent at quarter-end.

Berkadia.com|ApartmentUpdate.com

ST. LOUIS OFFICE | 636.391.3911

a Berkshire Hathaway and Leucadia National company For sources & disclaimer: apartmentupdate.com/source
http://www.berkadiarea.com/http://www.apartmentupdate.com/http://www.apartmentupdate.com/http://www.berkadiarea.com/


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DISCLAIMER & CONFIDENTIALITY AGREEMENT

The material contained in this document is confidential, furnished solely for the purpose of considering investment

the property described therein and is not to be copied and/or used for any purpose or made available to any othe

person without the express written consent of Berkadia Real Estate Advisors. In accepting this, the recipient agrees

keep all material contained herein confidential.

This information package has been prepared to provide summary information to prospective purchasers and to

establish a preliminary level of interest in the property described herein. It does not, however, purport to present al

material information regarding the subject property, and it is not a substitute for a thorough due diligence

investigation. In particular, Berkadia Real Estate Advisors and seller have not made any investigation of the actual

property, the tenants, the operating history, financial reports, leases, square footage, age or any other aspect of th

property, including but not limited to any potential environmental problems that may exist and make no warranty o

representation whatsoever concerning these issues. The information contained in this information package has bee

obtained from sources we believe to be reliable; however, Berkadia Real Estate Advisors and Seller have not

conducted any investigation regarding these matters and make no warranty or representation whatsoever regardin

the accuracy or completeness of the information provided. Any pro formas, projections, opinions, assumptions or

estimates used are for example only and do not necessarily represent the current or future performance of the prop

BerkadiaREA and Seller strongly recommend that prospective purchasers conduct an in-depth investigation of ever

physical and financial aspect of the property to determine if the property meets their needs and expectations. We a

recommend that prospective purchasers consult with their tax, financial and legal advisors on any matter that may

affect their decision to purchase the property and the subsequent consequences of ownership.

All parties are advised that in any property the presence of certain kinds of molds, funguses, or other organisms m

adversely affect the property and the health of some individuals. Berkadia Real Estate Advisors recommends, if

prospective buyers have questions or concerns regarding this issue, that prospective buyers conduct further

inspections by a qualified professional.

The Seller retains the right to withdraw, modify or cancel this offer to sell at any time and without any notice or

obligation. Any sale is subject to the sole and unrestricted approval of Seller, and Seller shall be under no obligati

to any party until such time as Seller and any other necessary parties have executed a contract of sale containing

terms and conditions acceptable to Seller and such obligations of Seller shall only be those in such contract of sale

For more information on these and other Berkadia Real Estate Advisors exclusive listings, please call or visit our website atwww.BerkadiaREA.com

Berkadia Real Estate Advisors is the nations largest real estate firm focused exclusively on the sale of multifamily propertieinformation contained herein is from sources deemed to be reliable; however, it is not guaranteed. Printed in the USA. All rreserved.

Copyright 2015 Berkadia Real Estate Advisors.

For Real-Time Property Information

Scan QR code or go to:

FatimaGermania.BerkadiaREA.com

12444 Powerscourt Drive, Suite 410

St.Louis,Missouri63131

Phone:636.391.3911 | Fax: 636.391.3914

Berkadia.com


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