Proven Value-Add Through Interior Renovations: Current Ownership has renovated 54 of the 88 units, leaving 34 units in classic condition. They are achieving $35 premiums on 3 Silver Downstairs units, $85 premiums on 5 Silver Upstairs units, $135 premiums on 5 Gold Downstairs units, $185 premiums on 10 Gold Upstairs units, $235 premiums on 13 Platinum Downstairs units, $285 premiums on 16 Platinum Upstairs units, and $485 premiums on 2 Elite units.
Amenity & Exterior Upgrade: Current ownership has renovated and upgraded the clubhouse, amenity offerings, and exterior of the property, highlighted by a full clubhouse remodel, pool deck painting, & the tennis court converted to a grilling and recreation area.
High Historical Occupancy: Collins Mill Creek has maintained 94%+ occupancy over the last five years, while also benefiting from exceptional rent growth of approximately 66% over that same time frame. Current Ownership projects occupancy and rents at Collins Mill Creek to continue trending upwards.
Strong Market Fundamentals: Outlying Santa Rosa County has shown consistent rent growth with rents growing over 31% since 2014. According to CoStar, rents are anticipated to grow by 2.8% or more each year through 2028.
$1 Billion Navy Federal Credit Union Campus: Collins Mill Creek is less than 30 minutes from Navy Federal Credit Union’s $1 billion campus that is home to 9,188 jobs, with plans to grow that number to over 10,000.
Massive Healthcare Expansion: Baptist Health Care revealed plans for a $650 million investment that includes a 10-story, 268 healthcare complex. The announcement is the largest healthcare investment in northwest Florida History.
THIS CONFIDENTIALITY AND BROKERAGE AGREEMENT ("Agreement") is made and agreed to by you ("Prospective Buyer") for the benefit of THE KIRKLAND COMPANY ("Broker"), with respect to certain real property ("Collins Mill Creek") located in Milton, Florida.
BACKGROUND:
1 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 buyer 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 Owner and therefore are subject to variation.
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows:
By submitting this form, you have acknowledged, read, and agreed to this above Confidentiality and Brokerage Agreement.
THIS CONFIDENTIALITY AND BROKERAGE AGREEMENT ("Agreement") is made and agreed to by and between THE KIRKLAND COMPANY ("Broker"), and "Prospective Buyer" with respect to the sale of certain real property located in Milton, Florida and known as Collins Mill Creek (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: