NAI Harding Dahm Multifamily Group Money Making Parks Upside on Each Park Turn Key Operations On Site Management Security Systems Four Park Investment Portfolio Four (4) Successful Mobile Home Communities Danville and Campbellsvile, Kentucky Contact Information Darrell E Watson Multifamily Specialist 118 E. Ludwig Road, Suite 100 Fort Wayne, IN 46825 office 260-423-4311 ext 318 mobile 260-804-3093 email dwatson@naihardingdahm.com www.naimultifamilygroup.com
Who We Are The NAI Multifamily Group provides a broad array of specialized services to apartment property owners, developers and investors locally and around the world. Our seasoned professionals have extensive experience catering to the specific needs of entrepreneurial owners, private equity investors, financial institutions and REITs (Real Estate Investment Trust). Clients can depend on our established and consistent expert approach to services. We have extensive relationships with the most active buyers, sellers and operators in the multifamily sector, and the local market knowledge and insight that areessential to our clients success. Whether it is working with an investor to identify acquisition opportunities or with an owner to market a property or portfolio, we bring unparalleled resources to the task. Our proprietary technology platform, featuring REALTrac Online, gives clients access to powerful transaction management tools, and is one of the principal reasons our clients choose NAI again and again. When marketing properties, our exclusive E-Offerings provides an efficient and effective channel to reach buyers, minimizing time on market. As part of NAI Global, The NAI Global Multifamily Group is connected to the premier global real estate services platform, a managed network with 5,000 professionals and 350 offices in over 45 countries worldwide. NAI professionals complete over $40 billion in transactions annually. NAI Multifamily professionals offer a comprehensive menu of Multifamily real estate services, including: Investment property acquisition and disposition Valuation and appraisal Feasibility studies Market research Property management Consulting Renovation management Construction management Mixed-use development Plan development Site selection Refinancing Whether your needs, are local, national or global, we invite you to build your business on the power for our network. Contact Information Darrell E Watson Multifamily Specialist office 260-423-4311 ext 318 mobile 260-804-3093 email dwatson@naihardingdahm.com www.naimultifamilygroup.com
Area for large photo Our Clients: We are proud to provide comprehensive services to many of the nation s most prestigious developers, owners, investors, REITs, advisory firms and institutions. We can competently handle large portfolio dispositions as well as single-asset sales. a AIMCO AMERSCO Archon Residential Management Archstone-Smith Operating Trust AvalonBay Communities, Inc. Ballast Point Development Barfield Bay Communities Bascom Northwest Properties Camden Property Trust Carbon Mesa Advisors Carmel Partners, LLC Casden Company Castle Berne Corporation Chad Nic Properties LLC Chandler Partners Cottonwood Capital Crosland Dinerstein Company Equity Residential Essex Property Trust Fairfield Residential, LLC Field Stone Properties Home Savings of America Horizon Realty Advisors Jackson Square Properties LA Community Design Center Landmark Residential Lane Development Lincoln Property Company Mid-America Apartment Communities Miles Development Orion Residential Pacific Property Company Palmcrest Realty Corporation Park Place Fund Ltd. PC Investments, Inc. Pines Development LLC Pinnacle, an American Services Company RK Properties RTC Sentinel Real Estate Corp. SunAmerica Investments, Inc Wood Partners Contact Information Darrell E Watson Multifamily Specialist office 260-423-4311 ext 318 mobile 260-804-3093 email dwatson@naihardingdahm.com www.naimultifamilygroup.com
Portfolio Summary Four Successful Mobile Home Communities Danville and Campbellsvile, Kentucky All Money Making Parks Upside on Each Park Turn Key Operations On Site Reliable Management Security Systems / Connected to Internet PROPERTY LOCATION NO. PADS / LOT SIZE Arrowhead Ranch 2319 Greensburg Road (Highway 68) Campbellsville, KY 58 Pad Site 35.6 Acres 2009 PROJECTED NOI 2009 PROJECTED CAP $87,847.79 9.44% ASKING PRICE $930,000 Green River Lake Commons 151 Smith Ridge Road Campellsville, KY 59 Pad Site 12 Acres $105,113.79 9.73% $1,050,000 Oakview Commons 100 York Lane Danville, KY 68 Pad Site 12Acres $152,380.45 10.13% $1,471,200 Pine Grove 112 Factory Lane Danville, KY 11 Pad Site.7 Acres $17,593.82 7.41% $230,000 Total Sites (196) 65.3 Acres $362,935.85 $3,681,200 DISTANCES ARROWHEAD RANCH GREEN RIVER COMMONS OAKVIEW COMMONS PINE GROVE Arrowhead 0 Miles 6.4 Miles 50.5 Miles 53.6 Miles Green River Commons 6.4 Miles 0 Miles 50 Miles 53.1 Miles Oakview Commons 50.5 Miles 50 Miles 0 Miles 4.1 Miles Pine Grove 53.6 Miles 53.1 Miles 4.1 Miles 0 Miles
Featured Listing Arrowhead Ranch Mobile Home Community 2319 Greensburg Road (State Road 68) Campbellsville, Kentucky This park is very stable. Many of the residents have been with Arrowhead for decades. Because of that income is very predictable. Even though over time the lease options will mature, the income should never drop because the lot rent will go up as rents are raised 3% a year. Upside!! The park is ready for expansion of 44 more pads with water and sewer already in place. There is also a 30 x 50 Pole Building that could be leased out or converted to retail type business. There are three acres of commercial frontage that could be developed into a nice NNN strip center or convenience store for more income. Highlights Include: Money making property Complete state of the art Security System hooked up to the internet so you can operate for from anywhere Reliable and honest onsite Management in place Roads are paved and County maintained Campbellsville is a city in Taylor County, Kentucky. According to 2007 statistics, the city had a 23,783 urban population and an 169,750 Labor Market Area population. It is the County Seat and an economic Hub for several Counties. Strategically located between KY s top three cities Louisville, Lexington and Bowling Green. Every Corvette ever made was made with pride in Bowling Green, KY. Job opportunity is great for your tenants. Many new businesses have recently come to the area including: Lowes, Amazon, Wal-Mart Super Center, several large Grocery Stores and a three story Holiday Inn to name just a few. These major companies all do their demographic studies and they know the growth and stability that Campbellsville is having and will continue to have. With the discovery of tax incentives, low cost of living, high quality of living, low industrial utility costs and low-cost labor plentiful (meaning no lack of residents for affordable housing), all the new business and jobs coming to town there is an expected job growth and stable economy for decades to come.
PRICING & FINANCIAL ANALYSIS No. of Spaces Space Type 2009 Rents Monthly Income 58 Rentable Pads / $125 $8,410.00 23 Park Owned $225 $400 $3,495.00 1 Metal Storage Bldg. (30 x 60 ) Vacant Possible $500.00 LOCATION Arrowhead Ranch, Campbellsvile, Kentucky Price $930,000.00 Down Payment $186,000.00 Number of Spaces 58 Price / Space $16,034.48 CAP Rate 2008 7.37% CAP Rate 2009 9.45% Lot Size Type of Ownership FINANCING FIRST TRUST DEED 35.6 Acres Private Loan Amount $744,000.00 Loan Type Fannie Mae Interest Rate 6.25 % Amortization 30 Loan to Value 80% Loan information is time sensitive and subject to change. Contact your local NAI Harding Dahm Representative ANNUALIZED OPERATING DATA INCOME 2008 2009 Gross Potential Rent $87,000.00 $100,920.00 Gross Potential Income $41,940.00 $41,940.00 Less: Vacancy/Deductions $40,449.00 $21,429.00 Effective Gross Income $88,491.00 $121,431.00 Net Operating Income $68,527.77 $87,847.79 Reserves $2,900.00 $2,900.00 Net Cash Flow Before Debt Service $65,627.77 $84,947.79 Debt Service ($52,239.54) Net Cash Flow After Debt Service $35,608.25 Total Return 19.14% EXPENSES Real Estate Taxes $3,033.00 $3,033.00 Insurance $1,999.05 $2,059.02 On-Site Management $1,500.00 $2,000.00 Off-Site Management $1,900.00 $6,170.00 Repairs & Maintenance $3,553.71 $3,910.00 General & Administrative $390.02 $405.00 Legal & Accounting $1,424.75 $1,467.49 Advertising $1,158.93 $1,193.69 Miscellaneous $0 $8,000.00 Utilities $5,003.75 $5,254.00 TOTAL EXPENSES $20437.79 $33,492.00 EXPENSES/SPACE % of EGI 23% 27%
Featured Listing Green River Lake Commons 151 Smith Ridge Road Campbellsville, Kentucky This park is very stable. Many of the residents have been with Green River Lake Commons for decades. Because of that income is very predictable. Even though over time the lease options will expire, the income should never drop because the lot rent will go up as rents are raised 3% a year. Upside! The park is ready for expansion of Phase III with 60 more pads with water and sewer already in place, Fifth park owned home has just be added for an increase in revenue. Highlights Include: Money making property Complete state of the art Security System Reliable and honest onsite Management in place Campbellsville is a city in Taylor County, Kentucky. According to 2007 statistics, the city had a 23,783 urban population and an 169,750 Labor Market Area population. It is the County Seat and an economic Hub for several Counties. Strategically Located between KY s top three cities Louisville, Lexington and Bowling Green. Every Corvette ever made was made with pride in Bowling Green, KY. Job opportunity is great for your tenants. Many new businesses have recently come to the area including: Lowes, Amazon, Wal-Mart Super Center, Several large Grocery Stores and a three story Holiday Inn to name just a few. These major companies all do their demographic studies and they know the growth and stability that Campbellsville is having and will continue to have. With the discovery of tax incentives, low cost of living, high quality of living, low Industrial Utility costs and low-cost labor plentiful (meaning no lack of residents for affordable housing), all the new business and jobs coming to town there is an expected job growth and stable economy for decades to come.
PRICING & FINANCIAL ANALYSIS No. of Spaces Space Type 2009 Rents Monthly Income 59 Rentable Pads $125.00 $8,555.00 5 Park Owned Homes $225 $400 LOCATION Green River Lake Commons, Campbellsvile, KY Price $1,050,000.00 Down Payment $210,000.00 Number of Spaces 59 Price / Space $17,796.61 CAP Rate 2008 4.96% (Represents 1/2 year) CAP Rate 2009 10.01% Lot Size Type of Ownership FINANCING FIRST TRUST DEED 17 Acres Private Loan Amount $840,000.00 Loan Type Fannie Mae Interest Rate 6.25 % Amortization 30 Loan to Value 80% Loan information is time sensitive and subject to change. Contact your local NAI Harding Dahm Representative ANNUALIZED OPERATING DATA INCOME 2008 2009 Gross Potential Rent $60,748.28 $102,660.00 Gross Potential Income $11,820.00 $11,820.00 Less: Vacancy/Deductions $9524.33 $1,740.00 Effective Gross Income $63,043.95 $118,650.00 Net Operating Income $52,012.26 $105,113.79 Reserves $2,950.00 $2,950.00 Net Cash Flow Before Debt Service $102,163.79 Debt Service ($58,980.13) Net Cash Flow After Debt Service $46,133.66 Total Return 21.96% EXPENSES Real Estate Taxes $2,901.00 $2,901.00 Insurance $479.00 $493.37 On-Site Management $1,750.00 $1,850.00 Off-Site Management $0 $0 Repairs & Maintenance $906.41 $2,600.00 General & Administrative $39.00 $150.00 Legal & Accounting $664.50 $900.00 Advertising $299.32 $475.00 Miscellaneous $474.58 $550.00 Utilities $3,424.88 $3,526.72 TOTAL EXPENSES $10,938.69 $13,446.09 EXPENSES/SPACE % of EGI 18.01% 11.41%
Featured Listing Oakview Commons Mobile Home Community 100 York Lane Danville, Kentucky This park is very stable. Many of the residents have been with Oakview for decades. Because of that income is very predictable. Even though over time the lease options will expire, the income should never drop because the lot rent will go up as rents are raised 3% a year. Upside!! Potentially add an additional six acres available for expansion. Highlights Include: Money making property Complete state of the art Security System hooked up to the internet Reliable and honest onsite Management in place Roads are paved and County maintained Danville is approximately 20,000 people. It is also a hub to 19 counties, drawing in many tens of thousands to shop, dine and for our services, such as our commercial stores, medical facilities and colleges. Time Magazine has featured Danville / Boyle County, Kentucky, as one of the successful small towns in America! Danville/Boyle County is know for outdoor recreation, historical attractions, antique shopping, quaint restaurants and charming bed-and-breakfasts. Lake Herrington is just on the other side of Danville - great place to boat, jet-ski, fish, waterski, etc - the lake is 32 miles long and just 10 minutes away. This area still holds on to the small town values that make it a great place to raise a family, have a business or live economically in retirement. Danville, is also home to one of Kentucky's best colleges, Centre College, the Harvard of KY. Centre is home to Norton Center For The Arts and hosts the site of The Great American Brass Band Festival (GABBF), an annual event that alone draws over 50,000 people each year. Panasonic, Caterpillar, Hobart, R.R. Donnelly (one of the largest printers in the world), American Greetings, and Ephraim McDowell Regional Medical Center are just a few of the companies that have chosen to do business in Danville.
PRICING & FINANCIAL ANALYSIS No. of Spaces Space Type 2008 Rents Monthly Income 64 Rentable Pads $145 $160 $11,055.00 21 Park Owned $225 $400 $4,192.42 LOCATION Oakview Commons, Danville, KY Price $1,471,200.00 Down Payment $294,240.00 Number of Spaces 64 Price / Space $21,635.29 CAP Rate 2008 9.00% CAP Rate 2009 10.36% Lot Size Type of Ownership FINANCING FIRST TRUST DEED 12 Acres Private Loan Amount $1,176,960.00 Loan Type Fannie Mae Interest Rate 6.25 % Amortization 30 Loan to Value 80% Loan information is time sensitive and subject to change. Contact your local NAI Harding Dahm Representative ANNUALIZED OPERATING DATA INCOME 2008 2009 Gross Potential Rent $116,580.00 $132,660.00 Gross Potential Income $50,309.04 $50,309.04 Less: Vacancy/Deductions $18,092.04 $10,000.00 Effective Gross Income $148,797.05 $172,969.04 Net Operating Income $132,416.06 $152,380.45 Reserves $3,400.00 $3,400.00 Net Cash Flow Before Debt Service $129,016.06 $102,163.79 Debt Service ($82,639.58) Net Cash Flow After Debt Service $69,740.87 Total Return 23.70% EXPENSES Real Estate Taxes $3,837.00 $3,837.00 Insurance $1,883.74 $1,939.49 On-Site Management $1,740.00 $1,900.00 Off-Site Management 0$ $0 Repairs & Maintenance $2,614.87 $2,750.00 General & Administrative $2,538.00 $2,614.14 Legal & Accounting $2,678.00 $1,490.00 Advertising 1,203.00 $1,950.00 Miscellaneous $968.32 $997.07 Utilities $1,315.53 $1,354.99 TOTAL EXPENSES $18,779.46 $18,833.69 EXPENSES/SPACE % of EGI 13% 11%
Featured Listing Pine Grove Community 112 Factory Lane Danville, Kentucky This park is very stable. Many of the residents have been with Pine Grove for decades, some are even multi-generational.. Because of that income is very predictable. Even though over time the lease options will expire, the income should never drop because the lot rent will go up as rents are raised 3% a year. The income stream should be consistent and stable. Upside!! Fill the existing vacant pads with used homes and sell on Notes/Lease Options. That will increase the NOI from $18,190 to $21,790, a 20% increase income. Highlights Include: Money making property Complete state of the art Security System installed Micro-Management in place Danville is approximately 20,000 people. It is also a hub to 19 counties, drawing in many tens of thousands to shop, dine and for our services, such as our commercial stores, medical facilities and colleges. Time Magazine has featured Danville / Boyle County, Kentucky, as one of the successful small towns in America! Voted # 3 Best Places to Live in Rural America in the most recent polls. Top 10 in the Southeast in last year's poll. Danville/Boyle County is know for outdoor recreation, historical attractions, antique shopping, quaint restaurants and charming bed-and-breakfasts. Lake Herrington is just on the other side of Danville - great place to boat, jet-ski, fish, waterski, etc - the lake is 32 miles long and just 10 minutes away. This area still holds on to the small town values that make it a great place to raise a family, have a business or live economically in retirement. Danville, is also home to one of Kentucky's best colleges, Centre College, the Harvard of KY. Centre is home to Norton Center For The Arts and hosts the site of The Great American Brass Band Festival (GABBF), an annual event that alone draws over 50,000 people each year. Panasonic, Caterpillar, Hobart, R.R. Donnelly (one of the largest printers in the world), American Greetings, and Ephraim McDowell Regional Medical Center are just a few of the companies that have chosen to do business in Danville.
PRICING & FINANCIAL ANALYSIS No. of Spaces Space Type 2009 Rents Monthly Income 11 Rentable Pads $300.00 $1,650.00 10 Park Owned Homes $225 $400 $1,239.75 LOCATION Pine Grove, Danville, KY Price $230,000.00 Down Payment $46,000.00 Number of Spaces 11 Price / Space $20,909.09 CAP Rate 2008 6.62% CAP Rate 2009 7.41% Lot Size.7 Acres Type of Ownership Private ANNUALIZED OPERATING DATA INCOME 2008 2009 Gross Potential Rent $16,250.00 $19,800.00 Gross Potential Income $14,877.00 $14,877.00 Less: Vacancy/Deductions $1,250.00 $1,500.00 Effective Gross Income $29,877.00 $33,177.00 Net Operating Income $15,226.14 $17,593.82 Reserves $550.00 $550.00 Net Cash Flow Before Debt Service $14,676.14 $17,043.82 Debt Service ($12,919.46) Net Cash Flow After Debt Service $4,674.36 Total Return 9.84% FINANCING FIRST TRUST DEED Loan Amount $184,000.00 Loan Type Fannie Mae Interest Rate 6.25 % Amortization 30 Loan to Value 80% Loan information is time sensitive and subject to change. Contact your local NAI Harding Dahm Representative EXPENSES Real Estate Taxes $1,364.00 $1,364.00 Insurance $920.00 $920.00 Off-Site Management $0 $0 Repairs & Maintenance $3,344.25 $6,827.42 General & Administrative $0 $150.00 Legal & Accounting $117.00 $200.00 Advertising $0 $0 Miscellaneous $391.09 $550.00 Utilities $5,337.65 $1,601.00 TOTAL EXPENSES $11,473.99 $11,612.42 EXPENSES/SPACE % of EGI 38% 35%
Build on the power of our network The information contained herein has been given to us y the owner of the property or other sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. All information should be NAI Multifamily Group is a dedicated team of Brokers with a high degree of sales, repositioning and financing in the Multifamily industry. If you have properties that coming to market, need repositioned or are considering increasing your portfolio. Our team is here to assist you Contact Information Darrell E Watson Multifamily Specialist 118 E. Ludwig Road, Suite 100 Fort Wayne, IN 46825 office 260-423-4311 ext 318 mobile 260-804-3093 email dwatson@naihardingdahm.com www.naimultifamilygroup.com