Assumable Debt Opportunity: New ownership will need to assume the existing debt, which has an interest rate of 6.30%, 5+ years of interest only left, a remaining balance of $5,156,000, and approximately 10 years of term remaining that matures May of 2034.
Fully Renovated Asset: 43 of The Kensington’s 50 units were recently renovated with granite countertops, lights, blinds, kitchen/bath hardware, flooring, paint, & appliances. The remaining 7 units have been renovated with the exception of flooring & paint. Other improvements include new roofs, exterior paint, partial window replacement, new signage, new fencing, and a parking lot seal/stripe.
Maury County’s Rapid Growth: From 2016 to 2022, Maury County grew from a population of 92,163 to 108,159, a 17.4% increase.
Massive GM Investment: GM has expanded operations significantly in Maury County, investing over $2.3 billion since 2010 and creating roughly 5,000 jobs. The company is one of the staples in Maury County, and the manufacturing plant is GM’s largest facility in North America.
Highly Ranked County: According to SmartAsset.com, Maury County ranks #2 in Tennessee and #21 in the US for incoming investment.
Recent Economic Activity Highlighted By Ultium: Battery producer Ultium is underway on a $2.3 billion, 1,300-job battery cell manufacturing factory. Since 2020, Maury County has seen significant investment as over $4.8 billion of capital investment has been deployed, creating 3,400 new jobs.
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 ("The Kensington") located in Columbia, Tennessee.
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 Columbia, Tennessee and known as The Kensington (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: