27
25-UNIT SINGLE STORY COMMUNITY 501 N. 64TH PLACE | MESA, AZ | 85205 M Melrose Place
25-UNIT SINGLE STORY COMMUNITY501 N. 64TH PLACE | MESA, AZ | 85205
MMelrose Place
MELROSE PLACE APARTMENTS | PAGE 2
PROPERTY VISITATIONProspective purchasers will have the opportunity to visit the property via pre-scheduled property tours. These tours will include access to a representative sampling of units and access to maintenance and other similar facilities. In order to accommodate the property’s ongoing operations, property visitation will require advance notice and scheduling.
OFFER SUBMISSIONOffers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of Purchasers’ offers including, but not limited to (1) asset pricing, (2) due diligence and closing time frame, (3) earnest money deposit, and (4) qualifications to close. The purchase terms shall require all cash to be paid at closing. Offers should be delivered to the attention of Ryan Ash and Mike Woodrick using the email or fax number information listed below.
CONTACT INFORMATIONRyan AshSenior Managing DirectorTel: [email protected]
Mike WoodrickDirectorTel: [email protected]
ARA - Phoenix2398 E. Camelback RoadSuite 950Phoenix, Arizona 85016Tel: 602-252-4232Fax: 602-952-3801www.ARAnewmark.com
OFFER SOLICITATION PROCESS
MELROSE PLACE APARTMENTS | PAGE 3
04 EXECUTIVE SUMMARY
07 PROPERTY OVERVIEW
16 VALUATION SUMMARY
20 COMPARABLE SALES
26 APPENDIX
27 CONTACT
TABLE OF CONTENTS
MELROSE PLACE APARTMENTS | PAGE 4
EXECUTIVE SUMMARYMMelrose Place
THE OPPORTUNITY
ARA is pleased to announce the availability of Melrose Place Apartments, a 25 unit pride of ownership community located in a solid B class neighborhood in Northeast Mesa. There are very few apartment communities in the Northeast Mesa submarket under 100 units. At 3.96% this submarket boasts one of the lowest vacancy rates in the Metro Phoenix, making this a rare opportunity. Within a 5 mile radius of the community are several major employers which include Boeing, Falcon Field, Mesa Community College and 7 golf courses, headlined by two of the highest rated courses in the state with Longbow Golf Club and Las Sendas Golf Club.
Melrose Place Apartments is a single story community constructed in 1982 of wood frame construction with a stucco exterior, pitched asphalt shingle roofs, and is individually metered for electricity. The community consists of 5 five-plex detached buildings on their own separate parcel. Each five-plex offers 4 two bedroom one bath units and 1 one bedroom one bath unit which equates to 20 two bedroom units and 5 one bedroom units for the community. All of the units offer residents covered parking, 20 of the units offer residents fireplaces and 15 of the units have private patios with front and back entrances and the remaining 10 units have front patios with a front entrance. All units have individual storage units which include washer and dryer hook-ups and the interior’s include modern kitchens with electric appliances including dishwashers, individual water heaters, and individual HVAC’s. The property features low maintenance desert landscaping with a few trees and bushes throughout the community grounds. Ownership has upgraded a majority of the units with new vinyl plank flooring, new appliances, painted cabinets, resurfaced countertops, new vanities in the bathrooms, new fixtures, ceiling fans, and interior paint and are achieving rent increases on those upgraded units with no resistance. Currently, the property is 100% occupied and a new owner will have the opportunity to continue to implement a higher unit upgrade to achieve even higher rents that are warranted due to the high demand rental submarket. Most of the comparable rental communities in the neighborhood are achieving rents of $750-$800 for two bedrooms and $650 to $700 for one bedrooms.
Melrose Place Apartments offers an investor the rare opportunity to purchase a single story pride of ownership community that is majority 2 bedroom units with private patios and washer & dryer hook-ups, and located in the strong Northeast Mesa rental market with tremendous upside in rents.
DO NOT STOP BY THE PROPERTY. PLEASE CONTACT THE LISTING AGENTS TO SCHEDULE ALL PROPERTY TOURS.
INVESTMENT HIGHLIGHTS• Pride of Ownership Single Story
Community
• Solid B Class Location in Northeast Mesa
• Majority 2 Bedroom Units with Private Patios
• Washer & Dryer Hook-Ups and Fireplaces
• 1982 Constructed, Pitched Roofs, Covered Parking
• Low Maintenance Desert Landscaping, No Pool
• 100% Occupied, Tremendous Upside in Rents
• New Financing Available at 3.75%
• Surrounded by Top Golf Courses; Longbow & Las Sendas
• Near Major Employers; Boeing, Falcon Field, Mesa Community College
TERMS OF THE OFFERING
TOTAL UNITS 25
YEAR BUILT 1982
PRICE $1,995,000
PRICE / UNIT $79,800
PRICE / SF $112.39
RENTABLE SF 17,750
AVERAGE SF PER UNIT 710
AVERAGE RENT PER UNIT $705
AVERAGE RENT PER SF $0.99
MELROSE PLACE APARTMENTS | PAGE 7
PROPERTY OVERVIEWMMelrose Place
MELROSE PLACE APARTMENTS | PAGE 8
Melrose Place Apartments
ADDRESS: 501 N. 64th PlaceMesa, AZ 85205
COUNTY: Maricopa
YEAR BUILT: 1982
NUMBER OF UNITS: 25
NUMBER OF BUILDINGS: 5
STORIES: 1
RENTABLE AREA: 17,750
AVERAGE UNIT SIZE: 710
LAND AREA: 1.27 acres
MECHANICAL SYSTEMS / METERING
ELECTRICITY: Individually metered, resident paid
WATER/SEWER: Owner paid
TRASH DISPOSAL: Owner paid
CONSTRUCTION FEATURES
• Wood Frame Construction with Stucco Exterior• Pitched Roofs
AMENITIES
COVERED PARKING
WASHER & DRYER HOOK-UPS
PRIVATE PATIOS
FIREPLACES
INDIVIDUAL STORAGE
UNIT TYPE NO. OF UNITS SQUARE FEET
PROFORMA MARKET RENT/MONTH
PROFORMA MARKET RENT/SQUARE FOOT
1 BED / 1 BATH 5 550 $625 $1.14
2 BED / 1 BATH 20 750 $725 $0.97
TOTAL / AVG. 25 710 $705 $0.99
PROPERTY DETAILS
CHRISTOWNMANOR M
Melrose Place
CHRISTOWN MANOR APARTMENTS | PAGE 10
© 2008, ALL RIGHTS RESERVED. Reprinted with permission.
© 2008, ALL RIGHTS RESERVED. Reprinted with permission.
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ARIZONASTATE
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( 8 7 7 ) C A L L - P H X118 OFFICIAL VISITORS GUIDE V I S I T P H O E N I X . C O M OFFICIAL VISITORS GUIDE 119
LOCATION MAP
MMelrose Place
© 2008, ALL RIGHTS RESERVED. Reprinted with permission.
© 2008, ALL RIGHTS RESERVED. Reprinted with permission.
Waterm
an Wash
Salt
Gila River
New
Salt R
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er
Verde River
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e
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ARIZONASTATE
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CarefreeCave
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Buckeye
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Guadalupe
ApacheJunction
Gilbert
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( 8 7 7 ) C A L L - P H X118 OFFICIAL VISITORS GUIDE V I S I T P H O E N I X . C O M OFFICIAL VISITORS GUIDE 119
MESA COMMUNITY COLLEGE - RED MOUNTAIN CAMPUSThe Red Mountain campus occupies 100 acres of beautiful Sonoran Desert in northeast Mesa. Opened in 2001, this comprehensive campus offers an intimate college environment with advanced classrooms, wireless technology, and outdoor teaching spaces. Course offerings at Red Mountain focus on university transfer programs.
Over 23,500 students currently enrolled can choose from a wide range of program options suited to their learning needs; prepare to transfer to a university, start a career, upgrade skills needed for the workplace, or pursue personal interests. MCC offers over 150 Associate of Applied Science degrees and Certificates of Completion, designed for students to improve career options or enter the job market. MCC offers a total collegiate experience that enhances academic programs and promotes student development. Extracurricular and cocurricular programs include student clubs and organizations, service-learning opportunities, international activities including study abroad, fine and performing arts, speakers and forums, and a full array of intercollegiate athletics.
FALCON FIELD AIRPORTFalcon Field is a general aviation airport owned and operated by the City of Mesa and is located just minutes from hotels & luxury resorts, major league spring training baseball, outdoor recreation, entertainment, shopping, and other metro area cities. Falcon Field also serves as a reliever to Phoenix Sky Harbor International and Phoenix-Mesa Gateway airports. The airport amenities include:
• More than 700 based aircraft• Two runways• Three national car rental firms located on-airport• More than 80 on-airport businesses provide aviation services - fueling, maintenance
and repairs, inspections, avionics, aircraft painting and aircraft interiors - to support aircraft operations, manufacturing, or research & development activities
• Aircraft charters, recreational, sight-seeing and photography flights, and flight instruction are offered by multiple on-airport businesses
OUTDOOR RECREATIONRed Mountain ParkThis large park is over 1,000 acres providing families with all sorts of outdoor activities including playgrounds, a lake that is stocked with fish, walking trails, lighted basketball courts, soccer fields, baseball fields and reservable ramadas.
Usery Mountain Regional ParkThe Usery Mountain Regional Park is 3,648 acres set at the western end of the Goldfield Mountains, adjacent to the Tonto National Forest. Along the most popular feature of the park, the Wind Cave Trail, water seeps from the roof of the alcove to support hanging gardens of Rock Daisy.
Lost Dutchman State ParkJust minutes from Mesa is the Lost Dutchman State Park, named after the fabled lost gold mine, offering a variety of hiking trails, nature trails, picnic facilities and 134 campsites. You can also take a drive on the famous Apache Trail that was once a stagecoach trail through the Supersition Mountains.
GOLF COURSESSeveral beautiful and challenging golf courses are just steps away. Enjoy breathtaking views and near perfect weather golfing, enjoying the many fantastic restaurants, or sign up for lessons at the world-famous John Jacobs Golf School. Nearby courses include:
• Painted Mountain Golf Resort• Alta Mesa Golf Club• Longbow Golf Club• Las Sendas Golf Club• Red Mountain Ranch Country Club• Apache Wells Golf Course• Viewpoint Golf Resort
BOEINGBoeing is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training. Boeing employs more than 165,000 people across the United States and in more than 65 countries. This represents one of the most diverse, talented and innovative workforces anywhere.
MELROSE PLACE APARTMENTS | PAGE 16
VALUATION SUMMARYMMelrose Place
MELROSE PLACE APARTMENTS | PAGE 17
EXECUTIVE SUMMARYFinancial Analysis Executive SummaryMelrose PlaceMesa, Arizona
Number of Units 25 Per Unit DollarsYear Built 1982 Effective Gross Income $8,297 $207,420List Price $1,995,000 Less: Operating Expenses 2,800 69,989Price per Unit $79,800 Less: Capital Reserves 250 6,250Price per Square Foot $112.39 Net Operating Income 5,247 131,181Rentable Square Feet 17,750 Debt Service 77,609Average Square Feet per Unit 710 Net Cash Flow (8.95%) $53,572Average Rent per Unit $705Average Rent per SF $0.99
Down Payment $598,500 Proforma Cap Rate 6.57%Proposed New Loan $1,396,500 Proforma Cash on Cash Return 8.95%Loan-to-Value 70%Interest Rate 3.75%Loan Term 5 YearsAmortization 30 Years
Disclaimer
This information has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified itand make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy andcompleteness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current orfuture performance of the property. The value of this transaction to you depends on tax and other factors which should beevaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation ofthe property to determine to your satisfaction the suitability of the property for your needs.
PROPERTY OVERVIEW Proforma
Financing TermsFinancial Return
MELROSE PLACE APARTMENTS | PAGE 18
MARKET UNDERWRITING ANALYSIS
Market Underwriting AnalysisMelrose PlaceMesa, Arizona
INCOME AssumptionsGross Scheduled Rent $211,500Gross Potential Income $211,500
Less: Vacancy (7.0%) (14,805)Total Rental Income 93.00% $196,695
Plus: Utility Income $279 $6,975Plus: Other Income 150 3,750
Effective Gross Income $207,420
EXPENSES per unit
Repairs & Maintenance $500 $12,500Payroll 500 12,500Administrative/Advertising 150 3,750Utilities 821 20,527Total Variable Expenses $1,971 $49,277Taxes 282 7,053Insurance 153 3,824Management Fee 5.00% 9,835Total Operating Expenses $2,800 $69,989Plus: Capital Reserves 250 6,250Total Expenses $3,050 $76,239
NET OPERATING INCOME $131,181
Debt ServiceNew Financing - $1,396,500 (70% LTV)Debt Service (3.75% P & I)Cash Flow After Debt Service (8.95%) $53,572
$77,609
Proforma Unit Mix and Current Market RentsMelrose PlaceMesa, Arizona
Proforma ProformaProforma Monthly Annual
Unit No. of % Unit Proforma Rent Rent Rent TotalDescription Units Type Sq. Ft. Rents /Sq. Ft. Total Total Sq. Ft.
1 Bdrm / 1 Bath 5 20.0% 550 $625 $1.14 $3,125 $37,500 2,750
2 Bdrm / 1 Bath 20 80.0% 750 $725 $0.97 $14,500 $174,000 15,000
Total / Avg. 25 100.0% 710 $705 $0.99 $17,625 $211,500 17,750
By Square Feet
Unit Mix
By Bedroom Type
Eff2%
1 Bed3%
2 Bed95%
2002%
3003%
80095%
MELROSE PLACE APARTMENTS | PAGE 19
UNIT MIX AND CURRENT MARKET RENTS
Unit Mix and Current Market RentsMelrose PlaceMesa, Arizona
Proforma ProformaProforma Monthly Annual
Unit No. of % Unit Proforma Rent Rent Rent TotalDescription Units Type Sq. Ft. Rents /Sq. Ft. Total Total Sq. Ft.
1 Bdrm / 1 Bath 5 20.0% 550 $625 $1.14 $3,125 $37,500 2,750
2 Bdrm / 1 Bath 20 80.0% 750 $725 $0.97 $14,500 $174,000 15,000
Total / Avg. 25 100.0% 710 $705 $0.99 $17,625 $211,500 17,750
By Square Feet
Unit Mix
By Bedroom Type
Eff2%
1 Bed3%
2 Bed95%
2002%
3003%
80095%
MELROSE PLACE APARTMENTS | PAGE 20
COMPARABLE SALESMMelrose Place
2
3
1
447 W Rio Salado Pky1 Sold: $3,850,000 ($80,208/Unit)Mesa 39,216 SF Multi-Family/Apartments
425 E Brown Rd2 Sold: $2,675,000 ($89,167/Unit)Mesa 25,290 SF Multi-Family/Apartments
1700 S College Ave3 Sold: $2,850,000 ($91,935/Unit)Tempe 21,600 SF Multi-Family/Apartments
1010-1012 S Smith Rd4 Sold: $1,250,000 ($78,125/Unit)Tempe 11,520 SF Multi-Family/Apartments
830 N Alma School Rd5 Sold: $3,425,000 ($77,841/Unit)Mesa 37,056 SF Multi-Family/Apartments
1917 E Broadway Rd6 Sold: $2,150,000 ($79,630/Unit)Tempe 22,370 SF Multi-Family/Apartments
301 W Ray Rd7 Sold: $1,375,000 ($85,938/Unit)Chandler 18,000 SF Multi-Family/Apartments
Address City Property Info Sale Info
Copyrighted report licensed to ARA, A Newmark Company - 7983. 9/20/2016
Page 27
1
4
21
CYPRESS COMMONS
APARTMENT NAME CITY UNITS PRICE $/UNIT $/SQ. FT. YOC SALE DATE
S Melrose Place Mesa 25 $1,995,000 $79,800 $112.39 1982 TBD
1 Cypress Commons Mesa 48 $3,850,000 $80,208 $98.17 1986 8/10/2016
2 Mountain View Mesa 30 $2,675,000 $89,167 $105.77 1973 8/10/2016
3 University Tempe 31 $2,850,000 $91,935 $131.94 1960 6/15/2016
4 Verde Palms Tempe 16 $1,250,000 $78,125 $108.51 1961 2/24/2016
5 Riverview on Rio Salado Mesa 44 $3,425,000 $77,841 $92.43 1986 11/10/2015
6 Country Club Tempe 27 $2,150,000 $79,630 $96.11 1963 11/5/2015
7 Vista Star Chandler 16 $1,375,000 $85,938 $76.39 1982 10/13/2015
Averages 30 $2,510,714 $82,901 $100.40 1973
MOUNTAIN VIEW
2
3 1 43
UNIVERSITY VERDE PALMS
5
COMPARABLE SALES
1 65
RIVERVIEW ON RIO SALADO COUNTRY CLUB
17
VISTA STAR
7
6
MELROSE PLACE APARTMENTS | PAGE 22
M E L R O S E P L A C E A P A R T M E N T S5 0 1 N . 6 4 T H P L A C E , M E S A 8 5 2 0 5lamar
4227 w. lamar road85019
Unit Type SF # of UnitsNo. of Units: 25 Price: 1,995,000$ 1 Bedroom / 1 Bath 550 5Year Built: 1982 Price Per Unit: 79,800$ 2 Bedroom / 1 Bath 750 20NRA: 17,750 Price Per SF: 112.39$ Totals 25
Sale Date: TBD
Property Information Sale Information
C Y P R E S S C O M M O N S A P A R T M E N T S4 7 7 W . R I O S A L A D O P A R K W A Y , M E S A 8 5 2 0 1
cypress commons 477 w. rio salado pkymesa, 85201
Unit Type SF # of UnitsNo. of Units: 48 Price: 3,850,000$ 2 Bedroom / 2 Bath 817 48Year Built: 1986 Price Per Unit: 80,208$ Totals 48NRA: 39,216 Price Per SF: 98.17$
Sale Date: 8/10/2016
Property Information Sale Information
1
S
MELROSE PLACE APARTMENTS | PAGE 23
M O U N T A I N V I E W A P A R T M E N T S4 2 5 E . B R O W N R O A D , M E S A 8 5 2 0 3
mountain view condo rentals425 e. brown roadmesa 85203
Unit Type SF # of UnitsNo. of Units: 30 Price: 2,675,000$ 2 Bedroom / 1 Bath 746 15Year Built: 1973 Price Per Unit: 89,167$ 3 Bedroom / 2 Bath 983 15NRA: 25,290 Price Per SF: 105.77$ Totals 30
Sale Date: 8/10/2016
Property Information Sale Information
U N I V E R S I T Y A P A R T M E N T S1 7 0 0 S . C O L L E G E A V E N U E , T E M P E 8 5 2 8 1university
1700 s. college avetempe 85281
Unit Type SF # of UnitsNo. of Units: 31 Price: 2,850,000$ 1 Bedroom / 1 Bath 615 12Year Built: 1960 Price Per Unit: 91,935$ 2 Bedroom / 1 Bath 765 18NRA: 21,600 Price Per SF: 131.94$ 4 Bedroom / 2 Bath 1,500 1
Sale Date: 6/15/2016 Totals 31
Property Information Sale Information
3
2
MELROSE PLACE APARTMENTS | PAGE 24
V E R D E P A L M S A P A R T M E N T S1 0 1 0 - 1 0 1 2 S . S M I T H R O A D , T E M P E 8 5 2 8 1verde palms
1010-1012 s. smith roadtempe 85281
Unit Type SF # of UnitsNo. of Units: 16 Price: 1,250,000$ 2 Bedroom / 1 Bath 720 16Year Built: 1961 Price Per Unit: 78,125$ Totals 16NRA: 11,520 Price Per SF: 108.51$
Sale Date: 2/24/2016
Property Information Sale Information
R I V E R V I E W O N R I O S A L A D O A P A R T M E N T S8 3 0 N . A L M A S C H O O L R O A D , M E S A 8 5 2 0 1riverview on rio salado
830 n. alma school roadmesa 85201
Unit Type SF # of UnitsNo. of Units: 44 Price: 3,425,000$ 1 Bedroom / 1 Bath 625 16Year Built: 1986 Price Per Unit: 77,841$ 2 Bedroom / 2 Bath 950 28NRA: 37,056 Price Per SF: 92.43$ Totals 44
Sale Date: 11/10/2015
Property Information Sale Information
5
4
MELROSE PLACE APARTMENTS | PAGE 25
C O U N T R Y C L U B A P A R T M E N T S1 9 1 7 E . B R O A D W A Y R O A D , T E M P E 8 5 2 8 2
country club1917 e. broadway roadtempe 85282
Unit Type SF # of UnitsNo. of Units: 27 Price: 2,150,000$ 1 Bedroom / 1 Bath 450 6Year Built: 1963 Price Per Unit: 79,630$ 2 Bedroom / 1 Bath 560 19NRA: 22,370 Price Per SF: 96.11$ 2 Bedroom / 2 Bath 570 2
Sale Date: 11/5/2015 Totals 27
Property Information Sale Information
V I S T A S T A R A P A R T M E N T S3 0 1 W . R A Y R O A D , C H A N D L E R 8 5 2 2 5vista star
301 w. ray roadchandler 85225
Unit Type SF # of UnitsNo. of Units: 16 Price: 1,375,000$ 2 Bedroom / 2 Bath 1,125 16Year Built: 1982 Price Per Unit: 85,938$ Totals 16NRA: 18,000 Price Per SF: 76.39$
Sale Date: 10/13/2015
Property Information Sale Information
7
6
DisclosureApartment Realty Advisors of Arizona, LLLP, a licensed Arizona Broker, (collectively, the “Agent”) has prepared this material for limited use in the acquisition of certain Property or Properties, specifically, Melrose Place Apartments in Mesa, Arizona.
The Offering Memorandum is not intended to provide a completely accurate summary of the Properties or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective purchasers may need or desire. All financial projections are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and the Agent, and therefore may be subject to variation. The Offering Memorandum does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of the Offering Memorandum. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers.
Neither the Owner nor the Agent nor any of their respective officers, agents or principals has made or will make any representations or warranties, expressed or implied, as to the accuracy or completeness of the Offering Memorandum or any of the Contents (defined below), and no legal commitment or obligation shall arise by reason of the Offering Memorandum or the Contents. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser.
The Owner and Agent expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice. The Owner shall have no legal
commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property or Properties unless and until such offer for the Property or Properties is approved by the Owner, and any conditions to the Owner obligations thereunder have been satisfied or waived.
This Offering Memorandum and the Contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein are called the “Contents”), are of a confidential nature and are not to be made available to persons not receiving copies directly from the Agent. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the Contents to any other entity (except for outside advisors retained by you if necessary, in your opinion, for your determination of whether or not to make a proposal) without the prior written authorization of the Owner or Agent, and that you will not use the Offering Memorandum or any of the Contents in any fashion or manner detrimental to the interest of the Owner or Agent.
If you have no interest in acquiring either of the Properties at this time, kindly return the Offering Memorandum forthwith.
APPENDIX
MELROSE PLACE APARTMENTS | PAGE 27
ARA Phoenix2398 E. Camelback RoadSuite 950Phoenix, AZ 85016T 602-252-4232 [email protected]
Ryan AshSenior Managing DirectorT 602-852-3784C [email protected]
Mike WoodrickDirectorT 602-852-3789C [email protected]
RELATIONSHIPS THAT DELIVER RESULTS.
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MMelrose Place
