Multi-Housing

South Dakota Multifamily Portfolio

Yankton, Mitchell & Huron, SD United States
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2017
Building Area
Number of units 296

Property Description

Jones Lang LaSalle (JLL), is pleased to offer for sale the South Dakota Multi-Family Portfolio, consisting of three communities encompassing 296 apartment homes. With completion dates ranging from 2014 to 2018 and sizes from 64 to 151 apartment homes, the properties can be sold individually or together, although Seller would prefer a single portfolio purchaser. Westbrook Estates consists of 151 apartments homes and was constructed in two phases: 2016 & 2018.


The property is located in Yankton, SD, which is 50 miles southwest from Sioux Falls and is the county seat for Yankton County. Pheasant Ridge Village consists of 64 apartment homes and was constructed in 2014. The property is located in Mitchell, SD, which is 60 miles west of Sioux Falls and is the county seat for Davidson County. Wheatgrass Village consists of 81 apartment homes and was constructed in 2018. The property is located in Huron, SD, which is 85 miles northwest of Sioux Falls and is the county seat of Beadle County. The Offering represents a unique opportunity to invest into the highly sought-after asset class of new-construction, workforce housing. With portfolio occupancy as of October 2020 at 94%, the properties offer tenants a much-needed quality and affordable housing option. The Offering is subject to a loan assumption of four separate Fannie Mae agency loans. Details of current loan terms and balances can be found in the Offering Memorandum.

Investment Highlights

• Instant efficiencies of scale with 296 apartment homes

• Much needed market-rate workforce-housing assets

• Attractive cost-basis for new construction

• Ideal unit-mix variety, including townhomes

• Expansion potential at each site

• Pandemic-resilient asset class

• Stability in the state of South Dakota

• Tax-friendly state


Last Updated Date: 12 Oct 2020
Adam Haydon
Adam Haydon
Director, Capital Markets
License details
MT-RRE-BRO-LIC-72130
Mox Gunderson
Mox Gunderson
Senior Director, Capital Markets

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Last Updated Date: 12 Oct 2020

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