Stabilized, Best-in-Class Asset: New ownership will have the opportunity to acquire a premier apartment community in Newburgh based on Warrick Trail’s outstanding asset quality and location
Unmatched Amenities Package: Warrick Trail offers Newburgh’s premier amenities package, including:
Loss-to-Lease Burnoff: New ownership has the opportunity to take advantage of organic NOI growth through loss-to-lease burnoff. Recent leases are currently renting for over $84 per unit more than in-place leases.
Well Maintained Asset: Current ownership has done an excellent job maintaining the exterior and curb appeal of the asset.
Positive Supply & Demand Fundamentals: Warrick Trail is one of two Class A assets in the Newburgh market, allowing ownership to set the standard for the rental market. The property has consistently been highly occupied since stabilization, giving new ownership the potential to increase rents without using substantial capital.
Excellent School System: Residents of Warrick Trail are zoned for Sharon Elementary, Castle South Middle, and Castle High, all rated 8/10 or better according to greatschools.org
Highly Favorable Demographics: Warrick Trail is located in a zip code that has impressive median income, education levels, and home values:
Proximity to Evansville’s Best Retail: Warrick Trail is ideally positioned within 15 minutes of Evansville’s premier shopping centers, including:
Evansville Demand Drivers: The Evansville area is home to several large employers, including:
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 Warrick Trail (“Property”) located in Newburgh, Indiana. 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: