201 - UNIT CLASS A+ LAKE | FLATO DESIGNED ... lofts at sylvan thirty...discussions regarding a...
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201 - UNIT CLASS A+ LAKE | FLATO DESIGNED MULTIFAMILY APARTMENT COMMUNITY OFFERING MEMORANDUM | Dallas, Texas
Transcript of 201 - UNIT CLASS A+ LAKE | FLATO DESIGNED ... lofts at sylvan thirty...discussions regarding a...
2 0 1 - U N I T C L A S S A + L A K E | F L A T O D E S I G N E D M U LT I F A M I LY A P A R T M E N T C O M M U N I T Y O F F E R I N G M E M O R A N D U M | Dallas, Texas
1 2 3 5 64EXECUTIVE SUMMARY
INVESTMENTHIGHLIGHTS
INVESTMENTRATIONALE
PROPERTYDESCRIPTION
FINANCIALANALYSIS
RENTCOMPARABLES
Offering Summary with Highlights
Unit Mix
Property Summary
Mixed-use project Walkability
Proximity to Major Employers/Jobs
Unique Design
The Story
Bishop Arts
Trinity Groves
West Dallas
Connectivity
Improving Infrastructure
Improving submarket
Unit Amenities
Community Amenities
Site Plan
Floorplans
Proforma
Income & Expense Assumptions
Cash Flow Assumptions
Cash Flow Projections
Lofts at Sylvan Thirty
Oaks of Trinity
Avant
Bell Design District
Trinity Loft
Bell Bishop Arts
Zang Triangle
CONTACTS
JEFF [email protected]
JORG [email protected]
DUSTIN [email protected]
CARISSA [email protected]
Investment Properties
750 Fort Worth AvenueDallas, Texas 75208 CBD
Cedars
West Dallas
North Oakcliff
Uptown
Scheduling & Confidentiality Agreements
Financing Options
1 EXECUTIVE SUMMARYWorld Class Design. Community Living. Urban Living.
76 Executive Summary
THE LOFTS AT SYLVAN | THIRTY
JLL is pleased to present this excellent opportunity to acquire The Lofts at Sylvan | Thirty (property), a 201 unit, newly constructed Lake | Flato designed boutique, Class A+ apartment community prominently located along Sylvan Avenue between I-30 and Fort Worth Avenue at the front door of the Dallas Central Business District (CBD), in the rapidly growing and emerging West Dallas market.
Sylvan | Thirty is a mixed-use development which includes in excess of 48,000 square feet of upscale retail, providing an unparalleled urban atmosphere. The mixed-use development, Sylvan | Thirty, is divided into fee simple estates composed of two (2) separately designated Units, being the Apartment Unit (which is being sold pursuant to this Investment Offering) and the Retail Unit, as well as each Unit’s undivided interest in the Common Elements.
This true urban loft style component of the greater mixed-use Sylvan | Thirty development is nestled within a pin point location in one of Dallas’ most cultured and reemerging neightborhoods near Uptown Dallas, the Design District, and more importantly the new vibrant areas of Trinity Groves and the Bishops Arts District.
INVESTMENT HIGHLIGHTSGreat Visibility – The Lofts at Sylvan | Thirty has unrivaled visibility along Interstate 30 providing a steady stream of leasing traffic to the property.
Proximity to Major Employment – The Lofts at Sylvan | Thirty benefits from its advantageous location along I-30 and Fort Worth Avenue, in sight of Uptown and Downtown Dallas, North Texas’ largest employment centers with a total workforce of over 135,000 people.
• In addition to Uptown and Downtown, the property is within close proximity to several other large employment centers such as the Dallas Medical District and Methodist Hospital.
High Connectivity – The property sits at the convergence of several thoroughfares allowing ease of access throughout the urban core. The Lofts at Sylvan | Thirty is connected directly to Downtown, Uptown and the Medical District by 4 distinct bridges on West Commerce, I-30, Singleton Boulevard, and Sylvan Avenue. Residents of Sylvan | Thirty benefit from the following drive-times:
• Bishop Arts District – 3 minutes• Uptown & Dallas CBD – 5 minutes• Dallas Medical District – 7 minutes
Mixed-Use Vibrancy - The property benefits from being part of a larger mixed-use destination. Everyday conveniences including an on-site grocery store and local butcher alongside exciting eateries and event spaces create an inviting atmosphere that allows The Lofts at Sylvan | Thirty to stand out amongst the competition. Dallas’ Re-emerging Neighborhood in the Urban Core – The Lofts at Sylvan | Thirty is strategically positioned in North Oak Cliff along I-30 between Trinity Groves and the Bishop Arts District, two of the most popular new entertainment centers in DFW.
• Neighborhood amenities other than the Bishop Arts District and Trinity Groves that create a truly ‘Austinesque’ feel to this Dallas area include The Belmont Hotel, Chicken Scratch, Steven’s Park Golf Course, Founder’s Park and Kessler Park just to name a few.
• The reemergence of North Oak Cliff will only benefit from the neighborhood merge anticipated in the future as the CBD, Uptown, Design District, Deep Ellum, Southside, and Oak Cliff all become connected through the urban boom.
Institutional Quality Construction LEED Certified – The Lofts at Sylvan | Thirty is a brand new Class-A development that features the highest quality construction, with true urban loft finish-out, and amenities in the market.
98 Executive Summary
20152014172,05485691% as of 6/20/16
$1.71$1,46650.222651.32
Year Built:
# of Units:
# of Floors:
Net Rentable Area (SF):
Avg. SF per Unit:
Occupancy:
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Density:
Parking Spaces:
Parking Ratio:BELMONTHOTEL
BELMONTHOTEL
REDEVELOPMENTMIXED-USE SITEREDEVELOPMENTMIXED-USE SITE
CHICKEN SCRATCH/ THE FOUNDRY
CHICKEN SCRATCH/ THE FOUNDRY
TRINITIY GROVESTRINITIY GROVES
FUTURE LOCATION OF CVS PHARMACYFUTURE LOCATION OF CVS PHARMACY
UPTOWNUPTOWNKLYDE
WARRENPARK
KLYDEWARREN
PARK
ARTS DISTRICTARTS DISTRICT
DALLAS CBDDALLAS CBDTHE CEDARSTHE CEDARS
AMERICAN AIRLINESCENTER
AMERICAN AIRLINESCENTER
MEDICAL DISTRICTMEDICAL DISTRICT DESIGN DISTRICTDESIGN DISTRICT
LOVE FIELDAIRPORT
LOVE FIELDAIRPORT
SMOKESMOKEKESSLER PARKNEIGHBORHOODKESSLER PARKNEIGHBORHOOD
HOME VALUES $500K - $1MMHOME VALUES $500K - $1MM
SYLVAN BRIDGESYLVAN BRIDGE
MARGARET HUNTHILL BRIDGE
MARGARET HUNTHILL BRIDGE
COMMERCE STBRIDGE
COMMERCE STBRIDGE
MARGARETMCDERMOTT
BRDIGE
MARGARETMCDERMOTT
BRDIGE
CONTINENTALBRIDGE
CONTINENTALBRIDGE
PROPERTY SUMMARY
9190 Disclaimer
DISCLAIMERThis Brochure is provided for the sole purpose of allowing a potential investor to evaluate whether there is interest in proceeding with further discussions regarding a possible purchase of or investment in The Lofts at Sylvan | Thirty (property), 750 Fort Worth Avenue, Dallas, Texas (75208).
The potential investor is urged to perform its own examination and inspection of the property and information relating to same, and shall rely solely on such examination and investigation and not on this Brochure or any materials, statements or information contained herein or otherwise provided.Neither Jones Lang LaSalle Americas, Inc. nor the Owner, nor any of their respective partners, directors, officers, employees, shareholders, manager and agents (collectively, “Agents”), make any representations or warranties, whether express or implied, by operation of law or otherwise, with respect to this Brochure or the property or any materials, statements (including financial statements and projections) or information contained herein or relating thereto, or as to the accuracy or completeness of such materials, statements or information, or as to the condition, quality or fitness of the property, or assumes any responsibility with respect thereto. Such materials, statements and information have in many circumstances been obtained from outside sources, and have not been tested or verified. Projections, in particular, are based on various assumptions and subjective determinations as to which no guaranty or assurance can be given.
Without limiting the foregoing, in the event this Brochure contains information relating to asbestos or any other hazardous, toxic or dangerous chemical, item, waste or substance (“Hazardous Materials”) in relation to the property, such information shall in no way be construed as creating any warranties or representations, expressed or implied, by operation of law or otherwise, by Agents or the Owner, as to the existence or non-existence or nature of Hazardous Materials in, under, on or around the property.
This Brochure is provided subject to errors, omissions, change of price or terms and other changes to the materials, statements and information contained herein or relating to the property, and is subject to withdrawal, all without notice. The contents hereof are confidential and are not to be reproduced or distributed to any person or entity without the prior written consent of Agents or used for any purpose other than initial evaluation as indicated above.
World Class Design. Community Living. Urban Living.
CONTACTSJEFF [email protected]
DUSTIN [email protected]
CARISSA [email protected]
Scheduling & Confidentiality Agreements
Financing Options
8343 Douglas Avenue, Suite 100, Dallas, Texas 75225
JORG [email protected]
