A 396-UNIT VALUE-ADD OPPORTUNITY LOCATED IN NORTHWEST AUSTIN, TEXAS Capital Markets Investment Properties
CBRE s Central Texas Multifamily Investment Team is pleased to announce the exclusive listing of IMT Anderson Mill, an institutional quality 396 unit asset constructed in 2007. IMT Anderson Mill features high quality craftsmanship and cutting edge design with three distinct interior finish packages that appeal to a broad range of the rental market. This blend of three styles in one community has contributed to average occupancy of over 95% in each of the last three years and steadily increasing rental rates. The Northwest Austin location just off of Parmer Lane, the city s fastest growing tech corridor, provides residents with tremendous convenience to an impressive roster of blue chip employers. INVESTMENT SUMMARY Address Price/Terms Website Year Completed 2007 Occupancy 96% Number of Units Net Rentable Area Average Sq. Ft. Land Area/Density Buildings Parking 8601 Anderson Mill Road Austin, Texas 78729 Price to be determined by the market. The property is available on an all cash basis. www.imtresidential.com/imtandersonmill 396 units 366,444 square feet 925 square feet +/- 36.29 acres; +/- 10.9 units/acre 1 Leasing/Clubhouse/Business Center/ Coffee Bar/Fitness Center 17 Residential Buildings 68 detached garages 128 carports 8 boat spaces 20 handicap spaces 591 surface spaces 815 total spaces (2.1 spaces per home) UNIT MIX Type Units Size Total SF Market Rent Rent/ SF Monthly Rent Annual Rent 1-1 96 630 60,480 $875 $1.39 $84,000 $1,008,000 1-1 96 775 74,400 $975 $1.26 $93,600 $1,123,200 2-1 48 995 47,760 $1,115 $1.12 $53,520 $642,240 2-2 120 1,156 138,720 $1,250 $1.08 $150,000 $1,800,000 2-2 24 1,243 29,832 $1,250 $1.01 $30,000 $360,000 3-2 12 1,271 15,252 $1,450 $1.14 $17,400 $208,800 Ttl./ Avg. 396 925 366,444 $1,082 $1.17 $428,520 $5,142,240 Two Bedroom 48% Three Bedroom 3% One Bedroom 48% 1 2 3
INVESTMENT HIGHLIGHTS Beautiful Low Density Site Situated on a scenic 36.3 acre site, IMT Anderson Mill has a density of only 10.9 units per acre. Exteriors built with stone, Hardi plank and cedar accents define the Craftsman style architecture of the generously spaced buildings. The spacious and tranquil setting has afforded the opportunity to create private yards for many of the first floor homes, and a unique +/- 8,000 square foot pet park that has become a central draw to the community. Three Distinctive Interior Designs Residents at IMT Anderson Mill can choose amongst three interior finish packages that are adaptable to a wide range of tastes. Exceptional floor plans that have been refined by an experienced developer enhance the livability of these elegant homes. Each of the three interior designs - The Metro, The Luxe, and the Urban - are anchored by a black Whirlpool appliance package and cherry cabinetry in light, medium and dark bordeaux finishes with brushed chrome knobs or handles. Details on each finish package are included in the features section. Immediate Value-Add Opportunity The current premium for the plank wood flooring option is $30 per month, and there is the potential to upgrade a significant number of additional units. Currently, only 24 units include this highly desirable feature. Kitchens could be enhanced through the addition of built-in microwaves and granite countertops. Additionally, the current premium for fenced yards ranges from $70-$110 per month depending on size, and there is the potential to add 45 additional fenced yards to the property. TREMENDOUS EMPLOYMENT GROWTH Austin recently secured the top spot on Forbes annual list of America s Fastest-Growing Cities for the fourth year in a row, and was cited by ULI as the second best market in the nation for commercial real estate investment. The city has consistently added new jobs over the last decade, with employment increasing by nearly 230,000 jobs during the last 10 years, an increase of 34%. The Austin MSA added 29,600 jobs during the last year, a 3.4% increase. Since April 2010, the population of the Austin MSA has expanded by over 210,000 people - an increase of over 12%. This consistent strong employment and population growth has led to booming demand for multi-housing.
Drive Times from IMT Anderson Mill HEB Grocery 5 minutes Lakeline Mall 45 State Farm ebay/paypal HEB Grocery Apple ebay/paypal 5 minutes Lake Travis 183 State Farm 5 minutes The Arboretum The Domain 35 Lakeline Mall 5 minutes Apple 5 minutes Emma Long Metropolitan Park LOOP 360 LOOP 1 The Arboretum 10 minutes The University of Texas The Domain 10 minutes Barton Creek Greenbelt Austin CBD INSIDE-THE-LOOP NORTHWEST AUSTIN LOCATION With over 900 feet of highly visible frontage on Anderson Mill Road, a strategic four-lane divided arterial connecting Parmer Lane with Highway 183, IMT Anderson Mill has exceptional visibility, convenient access to major employers, and quality Round Rock ISD schools within minutes from the community. The SH-45 outer loop tollway allows residents to quickly traverse to employment centers in North Central Austin while still living in the more desirable and scenic Northwest Austin. With a location approximately two miles inside the tollway loop, IMT Anderson Mill is just a short drive to Lakeline Mall, The Arboretum and The Domain retail centers, the premier shopping destinations in the Austin MSA. Grocery-anchored and convenience retail are also within minutes from the community.
LOCATION HIGHLIGHTS Tremendous Access to Major Employers IMT Anderson Mill provides residents quick and uncongested alternatives to commute to the major employers that continue to expand and locate in the preferred growth corridor of Northwest Austin. The area surrounding SH-45 and Parmer Lane is a hotbed of corporate activity with major names including the 2,000-employee State Farm regional service center, ebay/paypal, Polycom, EA Sports, and URS Corp. The Parmer Lane corridor has become Austin s home for fast growing high tech companies. The corridor is anchored by Samsung on the east end and ebay/paypal to the west, while the nearby Apple Campus and Tech Ridge s impressive tech roster at IH-35 generate tremendous growth throughout the central portion of the roadway. The Amber Oaks Corporate Center and The Spectrum, also located near the Parmer / SH-45 intersection, provide over 1.5 million square feet of office space. Apple Expansion Within Minutes of the Asset Apple is currently underway on a $304 million expansion project on Parmer Lane. The expansion is projected to create as many as 3,600 local jobs, bringing the total Austin Apple headcount to nearly 7,000 jobs. The average annual wage for the new jobs is projected at $63,950, a prime rental income level. Most of the jobs created are expected to be related to operations service, support and finance for Apple s business in North and South America. The first two buildings, totaling 290,000 square feet, are ready for occupancy. Another four buildings are in early stages of permitting review, totaling 513,000 square feet, with an expected completion date of 2021. Solid Submarket Demographics The income profile for the neighborhoods surrounding IMT Anderson Mill within a one mile radius is $77,886, and extends out at a five mile radius to $93,003, which evidences the depth and quality of the surrounding neighborhoods.
APARTMENT FEATURES Unit Features One, two and three bedroom spacious floor plans Metro, Luxe and Urban interior finish packages Black Whirlpool appliance package Expansive wrap around patios and balconies* Washer/dryer connections in all units Full-size Whirlpool washers and dryers* (99 units) Oversized garden tubs Single or double bowl vanities Walk-in closets Ceiling fans in living room and master bedroom Nine-foot ceilings Faux wood flooring throughout* (24 units) Tray ceilings* Private fenced yards (87 units) Wireless high speed internet access * In select units Interior finishes Metro 302 Units Black Whirlpool appliance package Light cherry cabinets with brushed chrome knobs Designer vinyl flooring in kitchens, baths and entries Flat panel doors Crown molding Contemporary lighting package Luxe 54 Units Black Whirlpool appliance package Medium cherry cabinets with brushed chrome handles Ceramic tile backsplash Wood flooring in kitchens and entries Two-panel doors Chair rail Crown molding Satin nickel lighting package Metro Finish Luxe Finish Urban 40 Units Black Whirlpool appliance package Bordeaux cherry cabinets with brushed chrome handles Ceramic tile backsplash Diamond-polished concrete flooring Flat panel doors Stainless steel sinks in bathrooms Urban nickel lighting package Urban Finish
COMMUNITY AMENITIES Leasing Center/Clubhouse 24-hour fitness studio Resort style swimming pool and sun deck Relaxing outdoor living room Outdoor fire pit with seating Two spacious fenced pet parks - One 8,000 square foot pet park - One dedicated for small dogs Cyber café WiFi in amenity areas Executive business center Conference room Detached garages Carports Onsite clothes care center Gated access
2007 Construction Institutional Grade Asset Exceptional Inside-the-Loop Northwest Austin Location Beautiful Low Density 36.3 Acre Site with Private Yards Timeless Craftsman-Style Architecture Three Distinctive Interior Finish Designs with Value-Add Potential Quality Neighborhood and Highly rated Round Rock I.S.D. Within Minutes to Apple, ebay, PayPal, URS and State Farm Campus Available on an All Cash Basis to Allow for Unrestricted Financing Options IMT Anderson Mill Apartments is being offered for sale on an exclusive basis by CBRE, Inc. All prospective purchasers who would like to receive a complete sales package should execute the Confidentiality/Registration Form which can be downloaded or signed online at www.cbre.com/imtandersonmill or emailed or faxed to you by contacting Darcy Hammar at darcy.hammar@ cbre.com or calling 1.512.499.4949. FOR MORE INFORMATION, PLEASE CONTACT: CBRE, INC. 100 Congress Avenue, Suite 500 Austin, Texas 78701 F: 1.512.499.4997 CHARLES CIRAR Vice Chairman charles.cirar@cbre.com P: 1.512.499.4916 C: 1.512.917.1592 MICHAEL WARDLAW Associate michael.wardlaw@cbre.com P: 1.512.482.5515 C: 1.512.297.9331 COLIN CANNATA Analyst colin.cannata@cbre.com P: 1.512.499.4979 Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. CBRE, INC., Printed in USA