Organic Loss-to-Lease Burn-off: New ownership has the opportunity to take advantage of organic NOI growth through loss-to-lease burnoff. Recent leases are currently renting for over $40+ per unit more than in-place leases.
Macon Mall Revitalization: Less than 5 miles away and over 580,000 square feet of retail shopping and restaurants, the Macon Mall is undergoing a $100 million renovation. New plans include a 10,000 outdoor amphitheater, new and improved retail-tenant space, and potential for a casino addition.
Macon Housing Demand: Bibb County’s median housing prices increased by 27% from 2020 to 2021, contributing to an increased demand in rental housing options for residents.
Proximity to Demand Drivers: Windy Hill Manor provides its tenants convenient access to some of the area’s largest demand drivers, including:
Expanding Industrial Sector: Since 2017, the Macon-Bibb County Industrial Authority has created over 2,500 jobs, over 2,000,000 SF in new construction development, and $1.3 billion in new private investment. Three national companies expanding its presence are:
Macon’s Rich History & Entertainment: Macon is home to several venues and museums that highlight the city’s rich history & entertainment options. These include:
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 Macon Portfolio (“Property”) located in Macon, Georgia. 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: