Interior Value-Add Opportunity: New ownership will have the opportunity to add value to the property by updating the interiors, such as new flooring, countertops, appliances or painted cabinets.
Room to Grow Rents: Nearby properties are renting for over $450+ per unit higher than Park Residences. Market rents are anticipated to grow by 8.8% in 2022 and 5.2% in 2023 and have averaged an annual gain of 14.3% in the past year, according to CoStar.
Large Floor Plans: Park Residences has an average floor plan size of 1,066 SF, which is larger than any of the surrounding comps. Over 76% of the property features 2 or 3 bed units.
Neighborhood Setting: Park Residences offers tenants a unique neighborhood setting with paved streets, sidewalks, driveways, and garages in select units.
Access to Nearby Demand Drivers: Park Residences is less than 5 miles from to major demand drivers in the area, including
Manufacturing Hub: Hendersonville is a manufacturing hub in the state of North Carolina with General Electric, Kimberly-Clark, Alpha Tech, Wilsonart, Jabil Healthcare, Lassonde Pappas, and Standard TyTape Company being some of the many that have manufacturing plants in the area.
Top Ranked State: According to CNBC, North Carolina has been named the best state in America for business with economic growth of 6.7% in the past year as well as job growth of 3.6%.
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 Park Residences (“Property”) located in Hendersonville, North Carolina. 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: