Turnkey, New Construction Homes: Westwood features 81 3BD, 4BD, & 5BD single-family homes with 2-car garages. The homes were completed in 2022, and the property is 84% leased up.
Increased Demand for SFR Opportunities: According to USA Today, Single-Family rental rates increase 5.3% from January to March 2023 vs. the same time period in 2022. Rising mortgage rates and high home prices are increasingly driving potential homebuyers towards the SFR market.
Amenity Value-Add Option: New ownership will have the option to add a Swimming Pool or other amenity to the development.
Excellent School System: Ocean Springs, MS is home to an excellent school system, with 7 of its schools ranking 8/10 or better according to Greatschools.org
$1.2 Billion Entertainment Development: Universal Music is developing a $1.2 billion hotel & casino entertainment destination that is expected to open this year. The resort will bring over 2,500 permanent jobs and 1,000 construction jobs. It will feature 1,150 hotel rooms, 12,000 seat entertainment venue, 18-hole golf course, new marina, and celebrity restaurants.
Staple Mississippi Employers: The Gulfport-Biloxi-Pascagoula metro area is home to some of the state’s largest employers:
#2 Largest Metro in Mississippi: Gulfport-Biloxi-Pascagoula (GBP) is the second-largest metro in Mississippi, behind the state capital of Jackson. The largest employer in the state, Ingalls Shipbuilding, operates in this region. In addition, the region has grown 7.4% since 2020 and has an average cost of living that is 17.4% less than the US average.
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 Westwood (“Property”) located in Ocean Springs, Mississippi. 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:
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 Ocean Springs, Mississippi and known as Westwood (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: