💲Accretive Assumable Financing: Three Fannie Mae Loans with a Blended Interest Rate of 3.05%

🏠Strong Historical Occupancy: 100% Occupied with Extremely Low Turnover Rate

📈HAP Contracts In-Place with Annual Automatic OCAF Rent Increases

💵Low Cost Basis: Sub $65K Per Unit List Price

CAMELOT APARTMENTS

The Camelot Apartments is centrally located in Greeley and adjacent to the east side of the University of Northern Colorado campus, offering residents excellent accessibility to downtown Greeley and amenities in the area. Boasting a diverse unit mix of five studio units, 11 one-bedroom units, and four two-bedroom units, the Camelot Apartments caters to a wide variety of tenants that benefit from its exceptional central location, a feature not common among affordable housing assets. Originally built in 1939, the Camelot Apartments underwent a $500,000 renovation at the end of 2019 and subsequently received its RAD-2 conversion. Improvements at the proper ty as of 2019 include a new roof, a new security system featuring biometric entries, common area upgrades, and significant unit improvements including: stainless steel appliances, granite counter tops, shaker cabinets, and new hard sur face vinyl flooring throughout all units.

CENTENNIAL VILLAGE & VILLA 14 APARTMENTS

Centennial Village and Villa 14 offer immediate scale in the Greeley MSA and represent exceptional value. Originally built in 1982, both Centennial Village and Villa 14 consist entirely of one-bedroom units that average 603 and 616 square feet, respectively. Centennial Village and Villa 14 are both elderly designated properties that have use agreements that run through November 2032 and November 2033. These use agreements require that 20% of units must be affordable to and occupied by very low-income tenants, with very low income meaning at or below the 50 percent Aera Median Income (AMI) threshold. All units at centennial village feature single-story floorplans with individual exterior entrances, with units being situated on expansive grounds that offer a serene, park-like setting for residents. This low-density asset is enhanced by its remarkable amount of green space and offers a nontraditional renting experience when compared to traditional multifamily assets, which is a significant competitive advantage.

INVESTMENT OPPORTUNITY

The Northern Colorado Affordable Housing Portfolio represents a remarkable acquisition of scale in a high-growth secondary market, offering a new investor the opportunity to establish a significant foothold in the path of growth in the Greeley MSA. The Northern Colorado Affordable Housing Portfolio is being offered with attractive assumable financing, with each proper ty having a separate, attractive loan. On a blended basis, the Northern Colorado Affordable Housing Portfolio offers an outstanding loan balance of $5,225,000, which equates to 82.9 percent LTV, and carries a blended rate of ~3.05 percent, which are significantly more favorable terms than new financing would be as of today.