Turnkey Asset: Ashton Brook offers investors 274 turnkey units that have been renovated with hardwood floors, granite countertops, stainless steel appliances, window & door replacements, and roofing and gutter replacements.
Loss-to-Lease Burnoff: Recent Leases have been renting for roughly $50 more than in-place rents on average. New ownership will have the opportunity to organically increase income through loss-to-lease burnoff.
Rent Growth Opportunity: Ashton Brook is over $300+ below rent of nearby properties. New ownership will be able to increase rents and capitalize on the demand to potentially increase NOI. Submarket rents are anticipated to grow by 9.5% in 2022 and 5.4% in 2023, according to CoStar projections. Submarket rents have grown 53.9% in the last 10 years, ahead of the long-term performance of the Louisville metro at 38.3%.
Louisville Employers Expanding: Multiple major employers are in expanding throughout Louisville, including:
Constant Louisville Development: Louisville’s thriving economy has led to over 200 projects under construction or proposed, examples include:
Access to Louisville’s Premier Retail Centers: Ashton Brook is ideally positioned near Louisville’s premier shopping opportunities, including:
Proximity to Staple Louisville Employers: Ashton Brook is a convenient commute to Louisville’s largest and most significant employers, including:
High Barrier to Entry for Homebuyers: Home values in the 40222 zip code average over $355,000, making homeownership unattainable for many residents in this area. The amount of for-sale inventory remains historically low and pushing home prices to new highs. This will likely keep those looking to purchase a home in the renter pool for now, according to CoStar.
Nationally Ranked Metro: Louisville has gained national attention due to its growing economy and lifestyle, including:
#2 – Busiest US Cargo Airport (aci)
#2 – Metro Areas with the Most Profitable Businesses (lendingtree)
#4 – Cities with the Happiest Workers (cnbc)
#6 – Best Cities for Remote Workers (highspeedinterent)
#8 – Best Cities for College Grads (smartasset)
THIS CONFIDENTIALITY AGREEMENT (“Agreement”) is made and agreed to by The Kirkland Company (“Broker”), exclusive listing broker for the Property, and (“Buyer”) regarding the sale of the property known as Ashton Brook (“Property”) located in Louisville, Kentucky. The obligation of confidentiality undertaken pursuant to this Agreement shall survive the terms of the Broker’s listing agreement with the Owner.
BUYER HAS REQUESTED information from Broker for the purpose of evaluating a possible acquisition of the Property. The Owner of the property has instructed Broker to deliver information concerning the Property, much of which is highly confidential, only to those potential purchasers who sign this Agreement. To receive an Offering Memorandum (“Offering Memorandum”) please read, sign and return this Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation.
THEREFORE, THE PARTIES AGREE, in consideration of the covenants and agreements contained herein, as follows:
In connection with your interest in a potential, negotiated acquisition of those certain properties listed in Exhibit A hereto (individually or collectively as the context may require, the “Property”) from [Seller] (individually or collectively as the context may require, the “Company”), you have requested certain information concerning the Property from the Company and its affiliates and its and their respective directors, officers, members, partners, employees, representatives, agents and/or advisors (including without limitation, attorneys, accountants, consultants and financial advisors) (individually or collectively as the context may require, the “Company’s Representatives”). In consideration of furnishing you with the Evaluation Material (as defined herein), the Company requests your agreement to the following: