Lofts at Crossroad Centre - KET Enterprises Incorporated

Transcription

A 220-Unit ● Class A
Multifamily Investment Opportunity
OFFERED BY
LOFTS AT CROSSROADS CENTRE'
LOFTS AT CROSSROADS CENTRE' ● 411 ALLIANCE BLVD., ● WAXAHACHIE, TX 75165
APARTMENTS
FOR
Market Price
SALE
Units:
Avg Size:
Date Built:
Rentable Sq. Ft.:
Acreage:
Occupancy:
Class:
Stabilized NOI
220
917
2012
201,688
11.05
94%
A
$1,743,089
SALIENT FACTS:
♦ Available on an Assumption Basis Only
♦ Located in Waxahachie, TX, south of Dallas
♦ Easy access to I-35 and Hwy 287
♦ Next door to the Waxahachie Civic Center
♦ Close to high-end retail, restaurants and office spaces
♦ Near Navarro College and the new Baylor Healthcare facility
♦ Many distribution facilities in the area
♦ 4.75% 40 yr HUD loan must be assumed (possible A7 on 1/15)
♦ Seller desires to do a pre-sale, prior to stabilization!
For More Information Please
Contact:
Tom Wilkinson
[email protected]
713-355-4646 ext 102
4295 San Felipe, Suite 355
Houston, TX 77027
www.ketent.com
AVAILABLE ASSUMPTION ONLY
Physical Information
Number of Units
Avg Unit Size
Net Rentable Area
Land Area (Acres)
Units per Acre
Date Built
Water Meter / Master
Elec Meter
Roof Style
HVAC System
Financial Information
220
917
201,688
11.05
19.91
2012
RUBS
Indiv
Pitched
Indiv
Asking Price
Price Per Unit
Price Per Sq. Ft.
Stabilized NOI
Market Price
N/A
N/A
$1,743,089
Existing Loan Parameters
Mortgage Balance
Amortization (months)
Debt Service
Monthly P & I + MIP
Interest Rate
Date Due
Est Res for Repl/Unit/Yr
Yield Maintenance
Type
Operating Information
$18,007,032
480
$1,042,999
$86,917
4.75%
12/2053
$200
Yes
HUD 221 (d) 4
Est Mkt Rent (Feb-15)
$222,825
2 Mo Avg
$232,016
Physical Occ (Feb-15)
94%
Est Ins per Unit per Yr
$208
Property Tax Information
Tax Rate (2013)
2.52250
2014 Tax Assessment
$15,646,470
Est 2014 Taxes
$394,682
Est Future Tax Assessment
$15,646,470
Est future Taxes
$394,682
Loan is locked to 1/1/15, then 8%, declining 1% a year
MODIFIED ACTUALS
INCOME
PRO-FORMA
PRO-FORMA INCOME
Current Street Rent with a 7% Increase
Estimated Gross Scheduled Income
Estimated Loss to Lease (1% of Total Street Rent)
Estimated Vacancy (4% of Total Street Rent)
Estimated Concessions and Other Rental Losses (3% of Total Street Rent)
Estimated Utilities & Trash Income
Estimated Other Income
Estimated Total Rental Income
2,861,073
2,861,073
(28,611)
(114,443)
(85,832)
107,829
147,260
2,887,276
ESTIMATED TOTAL PRO-FORMA INCOME
2,887,276
Fixed Expenses
Taxes
Insurance
Total Fixed Expense
Utilities
Electricity
Water & Sewer
Gas
Jan '14 thru Dec '14 Expenses
Estimated Expenses
Fixed Expenses
Estimated Fixed Expenses
$394,682 $1,794 per Unit
$45,813 $208 per Unit
$394,682 $1,794 per Unit
12/14 Trailing Operating Statement
440,495
$45,813
440,495
$2,002 per Unit
Utilities
$201 per Unit
$98,907 $450 per Unit
$98,907
$450 per Unit
$ per Unit
$0
143,108
143,108
$650 per Unit
$2,822 per Unit
516,584
$2,348 per Unit
$5,475 per Unit
1,100,187
$5,001 per Unit
$650 per Unit
Other Expenses
Estimated Other Expenses
$107,122 $487 per Unit
$213,464 $970 per Unit
$110,000 $500 per Unit
$196,840 $895 per Unit
$198,000 $900 per Unit
$22,062 $100 per Unit
2.92%
office and common area
$ per Unit
$107,122 $487 per Unit
$81,429
$2,002 per Unit
Estimated Utilities
$44,201
$0
2014 Tax Rate & Est Future Assessment
$208 per Unit
$44,201 $201 per Unit
Total Utilities
Other Expenses
General & Admin & Marketing
Repairs & Maintenance
Labor Costs
Contract Services
Management Fees
Total Other Expense
$240,606 / Mo
$2,784,195
2 Month Average Income Annualized
EXPENSE
$238,423 / Mo
$238,423 / Mo
1%
4%
3%
$490 / Unit / Yr
$669 / Unit / Yr
$22,062
$370 per Unit
$79,400
620,917
$100 per Unit
2.75%
$361 per Unit
Note: Interest Expense in the amount of $859,625.76 and MIP in the amount of $72,386.34 have been removed from Expenses
Total Operating Expense
Reserve for Replacement
1,204,520
Total Expense
Net Operating Income (Actual Underwriting)
1,248,520
Asking Price
Existing Debt
Existing Debt Service
Net Spendable
44,000
$200 per Unit
$5,675 per Unit
44,000
1,144,187
1,535,675
1,743,089
Market Price
Market Price
18,007,032
18,007,032
1,042,999
492,675
1,042,999
700,089
$200 per Unit
$5,201 per Unit
NOTES: ACTUALS: Income and Expenses calculated using owner's 12/14 Trailing Operating Statement. PRO FORMA: Income is Pro Forma as Noted. Taxes were calculated using
2014 Tax Rate & Est Future Assessment. Insurance is estimated. Management Fees calculated as 2.75% of Gross Income, Other expenses are Estimated for the Pro Forma.
DISCLAIMER: The information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt the accuracy of the information, but we have not verified it and make no guaranty, warranty or representation about it. It is your resonsibility to independently
confirm its accuracy and completeness. We have not determined whether the property complies with deed restrictions or any city licensing or ordinances including life safety compliance or if the property lies within a flood plain. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH
ITEM OF INCOME OR EXPENSE AND PERFORM OR HAVE PERFORMED ANY INSPECTIONS TO VERIFY POSSIBLE CONTAMINATION BY ASBESTOS, LEAD PAINT, MOLD OR ANY OTHER HAZARDOUS SUBSTANCES. The owner reserves the right to withdraw this listing or change
the price at anytime without notice during the marketing period.
2/26/2015
LoftsatCrossroadCentre.xlsx
Property Overview
PROPERTY INFORMATION
2012
Age:
TAXING AUTHORITY
Ellis County
CURRENT MORTGAGE
Mortgage Balance
$18,007,032
Renovated:
N/A
Elec Meter:
Indiv
A/C Type:
HVAC
P&I
$86,916.62
Water:
RUBS
Type
Wiring:
Copper
Roof:
Pitched
Concrete
Paving:
BrickWood
Materials:
3
# of Stories:
Buildings:
Prudential
Servicer
Ellis County
$0.380091
Waxahachie ISD
$1.428900
City of Waxahachie
$0.680000
HUD
Ellis CAD
$0.000000
Assumable
Yes
Ellis County Lateral Road
$0.033508
Monthly Escrow
Yes
Origination Date
7/1/2011
Due Date
12/2053
2014 Tax Rate/$100
$2.522499
480
Amortization
4.75%
Interest Rate
Yield Maintenance*
451 Spaces
Parking:
19.91
Units/Acre:
A
Quality
ACCT ID #: 254388
LO ends 1/15, then 8%
1%+app+legal
Transfer Fee
2014 Tax Assessment
* Declines 1% every year
COLLECTIONS
2 Mo Avg
$
232,016
Jan 2014
Feb 2014
$
$
207,753
204,971
Mar 2014
Apr 2014
May 2014
Jun 2014
Jul 2014
Aug 2014
Sep 2014
Oct 2014
$
$
$
$
$
$
$
$
202,508
231,435
218,508
218,540
220,269
222,417
221,954
218,285
Nov 2014
Dec 2014
$
$
220,814
243,218
$15,646,470
0.45%
MIP
UNIT STATISTICS
$300,000
$250,000
6%
$200,000
1bed/1bath
$150,000
37%
$100,000
57%
2bed/2bath
$50,000
3bed/2bath
$-
PLEASE DO NOT VISIT THE SITE WITHOUT AN APPOINTMENT MADE THROUGH THE
BROKER.
PROPERTY HIGHLIGHTS
The Lofts at Crossroad Center Apartments, is a three story, garden-style, apartment community located in Waxahachie,Texas, south of Dallas. Construction on the asset began in
2011 and the property officially opened for leasing in June 2012. The asset features an array of modern amenities which include: a fitness center, resort style swimming pools and
clubhouse area, a business center, garages and storage units. Apartment amenities include luxurious black appliances, large walk-in closets, faux wood flooring, ceramic tiles in the
bathrooms, designer wood cabinets, crown molding, in-suite washers and dryers, private patios and balconies with storage closets and personal green/garden space.
A recent site visit reveialed that the property appears to be very well built, with ample parking (surface, covered and garages) and with excellent landscaping and unit amenities.
Waxahachie has many distribution facilities as the main economic generator. The project is next to the new Baylor Medical Facility, currently under construction, and this will result in
a large additional supply of tenants!
The debt was interest only until December 2012. Per the note, the loan is locked out until 01/15, then has an 8% prepayment penalty, declining 1% a year. Ideal for an A7 interest
rate reduction, if the rates stay low, but not until 01/15. The opportunity exists to significantly lower the interest rate. A quote is being sought.
Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent roll, etc. provided by the Owner. Notwithstanding, KET
Enterprises Incorporated does not make any warranties about the information contained in this marketing package. Every prospective purchaser should verify the information and rely on his accountants or attorneys for legal and
tax advice. This offer is “As-Is, Where-Is”. Answers to specific inquiries will have to be supplied by the Owner and are available upon request. Rates of return vary daily. No representations are made concerning environmental
issues, if any.
Unit Mix
UNIT MIX FEBRUARY 2015
Unit #
Type
No. Units
Sq Ft
Total SqFt
Market Rent
Total Rent
Rent/SF
Flat
1 Bed/1 Bath
50
741
37,050
$890
$44,500
$1.20
Flat
1 Bed/1 Bath
2
741
1,482
$1,015
$2,030
$1.37
Flat
1 Bed/1 Bath
19
736
13,984
$860
$16,340
$1.17
Flat
1 Bed/1 Bath
1
736
736
$985
$985
$1.34
Flat
1 Bed/1 Bath
52
806
41,912
$925
$48,100
$1.15
Flat
1 Bed/1 Bath
2
806
1,612
$1,050
$2,100
$1.30
Flat
2 Bed/2 Bath
28
1,028
28,784
$1,085
$30,380
$1.06
Flat
2 Bed/2 Bath
4
1,028
4,112
$1,210
$4,840
$1.18
Flat
2 Bed/2 Bath
20
1,079
21,580
$1,120
$22,400
$1.04
Flat
2 Bed/2 Bath
30
1,190
35,700
$1,185
$35,550
$1.00
Flat
3 Bed/2 Bath
12
1,228
14,736
$1,300
$15,600
$1.06
220
917
201,688
$1,013
$222,825
$1.10
Total Units
Average Sq.
Ft.
Total Sq.
Feet
Average
Rent/Unit
Total
Rent
Average
Rent/ SF
TOTALS AND AVERAGES
Apartment Features
Community Features
7 Distinct Floor Plans (up to 1,228 Sq. Ft.)
Resort Style Swimming Pool
1, 2 and 3 bedroom Units
Complimentary Basic Cable
All Electric Kitchens
State of the Art Fitness Center
Large Bedrooms with Natural Sunlight
Minutes from Shopping and Restaurants
Designer Wood Cabinets
Theater Room
Full Size Patios & Balconies with Views
Abundant Green Space
Ample Closet and Storage Space
Part of a Master Planned Development
Crown Molding
Urban Style Design
Ceiling Fans
Easy Access to I-35E and Hwy 287
Full Size Washer/Dryer in Each Apartment
Professional Management Team
Spacious Floor Plans
Short term Leases Available
Walk-in Closets
PROPERTY LOCATION
DIRECTIONS TO PROPERTY: From DFW International Airport, go south on E Airfield Dr toward E 28th St. Make a left onto Walnut Hill Ln.
Turn right onto Block Dr. Make a right on Texas 161 Frontage Rd. Take the TX-161 S ramp and exit TX-183 E toward Dallas. Merge onto I35 E S. Exit US 287 and take the ramp south. Merge onto McNaughton St. Turn right onto Sam George Dr. Make a right onto John Arden
Dr. The property is on the right.
RENT COMPARABLES
RENT COMPARABLES (February 2015 ALN Online)
Property Name
Sorted by Avg Rent/Unit
Yr Blt/Reno
Occ
#Units
Avg SF
Avg Rent
P/SF
1 Indian Creek
510 Indian Dr.
2002
99%
140
841
$891
1.060
2 Blue Lake Villas
155 Lakeside Dr.
2002
96%
256
891
$918
1.030
3 Bella Vita
380 Salon Rd.
2008
94%
72
975
$1,004
1.030
4 Hunters Cove
1250 W Hwy 287
2009
98%
192
1126
$1,036
0.920
5 Massey Place
819 Hibiscus
2008
98%
75
1274
$1,210
0.950
2006
97%
147
1,021
$1,019
0.998
2012
94%
220
917
$1,013
$1.10
93%
614,250
862
$822
0.963
Totals/Averages Comps
Lofts at Crossroad Center
411 Alliance Blvd
DFW Market Avgs
1
3
2
4
5
2
1
5
LOFTS AT
CROSSROAD
CENTRE
APARTMENTS
3
4
AREA INFORMATION
STATE OF TEXAS ECONOMY
Job growth, sales tax collections – both from business and consumer purchases – as well as
automobile sales, signal that the Texas economy has emerged from the recent recession.
Another indicator that the state’s economy has been comparatively healthy was the U.S. Bureau
of the Census report that Texas added more people (nearly 4.3 million) than any other state
between the census counts of 2000 and 2010.
Entering 2011, more than half the jobs shed by employers during Texas’ shorter recession have
already been recovered as our economy recovers more quickly than the U.S. as a whole.
Nationally, only 13.4 percent of recession-hit jobs had been recovered ending 2010. Texas and
the nation returned to economic growth in 2010, with the nation increasing its GDP by 2.8 percent
and Texas increasing its GSP by 3.4 percent.
Jobs
•Texas’ December 2010 unemployment rate was 8.3 percent, up from 8.2 percent in November.
•Texas total nonfarm employment increased by 20,000 jobs from November to December.
Between December 2009 and December 2010, Texas gained 230,800 jobs.
•The U.S. gained 36,000 total nonfarm jobs in January 2011.
•The U.S. unemployment rate was 9.0 percent in January 2011, a 0.4 percent decrease from
December.
•The Texas unemployment rate has been at or below the national rate for 47 consecutive
months.
Housing
•Thus far, Texas has weathered the national real estate crunch without significant damage to
property values. Sales and construction activity dropped to pre-2007 levels but began to shows
signs of recovery in 2010.
•A total of 4,170 building permits for single-family homes were issued in December 2010, 887
fewer than a year ago. In the 12 months ending in December 2010, 62,980 permits were issued,
1 percent less than one year ago.
•The number of multi-family building permits issued rose from 989 in December 2009 to 1,200 in
December 2010. During the 12 months ending in December 2010, 18,716 permits were issued,
12 percent more than one year ago.
•In December 2010, sales of existing single-family homes increased by 16 percent from the
previous month, to a total of 15,752. December 2010 home sales were 3 percent lower than in
December 2009.
•In Texas, the median price for existing single-family homes increased by 4.1 percent from
December 2009 to December 2010.
•Texas experienced 14.897 foreclosure filings in January 2011.
Consumer Confidence Index
•U.S. consumer confidence increased by 14 percent from December 2010 to January 2011,
rising to 60.6. Consumer Confidence now stands 7 percent higher than one year ago.
•The Texas region’s consumer confidence index increased from 69.5 in December 2010 to 90.8
in January 2011, and is now up 26 percent from its level one year ago.
Oil and Natural Gas
•Natural gas and oil production tax collections combined are 70 percent higher for the first five
months of fiscal year 2011 compared to the same period in 2010.
•By contrast, fiscal 2010 oil and natural gas production tax collections combined were 24 percent
lower than collections in 2009.
•After reaching a 2008 summer high closing price of $145.29 to a low of $33.98 during February
2009, crude oil futures reached a settled price of $86.73 on Feb. 10, 2011.
•Similarly, natural gas futures prices have followed a similar path reaching a summer 2008 high
of $13.58 and then falling to a Sept. 3, 2009 low of $2.51. Prices recently settled at $3.99 on Feb.
10, 2011.
Taxes
•Texas sales tax receipts for January 2011 were 10.4 percent higher than for January 2010.
•For fiscal 2010, state sales tax receipts were down 6.6 percent from fiscal 2009.
•Motor vehicle sales tax collections for January 2011 were 19.6 percent higher than for January
2010.
•Nationally, leases accounted for 28.1 percent of new vehicle sales in November 2010, an
increase of 15.6 percent from November 2009.
Source: Texas Ahead, February 11, 2011 - Texas Comptroller's Office
AREA INFORMATION
WAXAHACHIE
In business, population and income, there’s no doubt that Texas is on the
rise. Texas experienced more high-paying job growth than the rest of the
country over the last 13 years, according to new research from the Dallas
Federal Reserve. The state has also been the top domestic immigration
destination in the country since 2006. Businesses are coming to Texas in
droves, hiring new employees and raising salaries for existing workers.
Because of the migration and job growth, the Dallas-San AntonioAustin economy now produces more than $700 billion in economic
output per year, ranking among the biggest 25 economies in the
world, according to an analysis from the Martin Prosperity Institute.
Waxahachie
is conveniently located at the crossroads of
Interstate 35E and U.S. Highway 287, approximately 30 minutes
south of Dallas. Over 80,000 vehicles travel through this
To compile this ranking, NerdWallet evaluated 126 cities, towns and
census-designated places and examined the following variables:
intersection every day, making Waxahachie the ideal location for
a variety of businesses and industries. Since it was founded in
1850, Waxahachie has benefited from its prime location. In the
late nineteenth century, Waxahachie was founded on the
prosperous cotton and cattle industries. These industries
continued to succeed due to rail availability and the original
highway intersection at the heart of the city. Waxahachie is still
experiencing a healthy and robust rate of growth. In fact, the
same transportation corridors where cotton barons traveled and
·
Population growth
·
Employment growth
·
Income growth
“Waxahachie’s strong population and income growth helped the city rank
among the top 20,” NerdWallet analyst Maggie Clark said. “The population
in Waxahachie increased by 10.8% between 2009 and 2012, while
incomes grew by 4.8% during the same period.”
the historic Shawnee cattle trail passed through, are where
modern-day companies are enjoying success in the medical,
service, manufacturing, retail and tourism industries.
March 25, 2014, NerdWallet, a consumer advocacy website,
recently conducted a study to find the fastest growing cities in
Texas – and Waxahachie ranked among the top 20.
The community’s quality of life is second-to-none with a
variety
of
residential
options,
excellent
education
opportunities, convenient shopping and dining, progressive
medical care, and quick access to all the metropolitan
amenities that the Dallas/Fort Worth Metroplex has to offer.
Sousrce: NerdWallet.com, March 25, 2014
New Baylor Medical Facility, Waxahachie
Completion Slated for Fall of 2014
ATION
AREA INFORMATION
Source: The City of Waxahachie - www.waxahachie.com
Prepared by the Economic Development Department
Reprinted with Permission from The City of Waxahachie Ecnonmic Development Department
ATION
AREA INFORMATION
ATION
AREA INFORMATION
MATION
AREA INFORMATION
AREA INFORMATION
Navarro College is a two-year
accredited, state-supported, community
college with four campuses in
Corsicana, Mexia, Midlothian, and
Waxahachie, Texas. Navarro has a long
history of service to the community and
is committed to creating a learning
environment that is accessible,
affordable, responsive, and innovative.
The Waxahachie campus, under
direction of Dr. Kenneth Martin , is
located a 1600 John Arden Drive.
Navarro College has experienced record
growth and expansion, paving the way
for future generations to learn and
improve their lives. From 1998 to 2013
Navarro College has expereinced
admission increases from 3,600
students to approximately 11,000
students. In July of 2013, the
Waxahachie campus opened doors to a
newly built 21,000 sq.ft building,
consisting of 11 classrooms,
a
multipurpose room that will hold up to
105 students, a chemistry lab and a
visual conferencing room. The facility
also contains nine faculty offices. The
campus purchased 50 acres of land
from
Chevron
Phillips
allowing
expansion of an additional thirty five
acres and the sale of 15 acres. The
campus also has a new 7,000-squarefoot physical plant building, which is
located directly behind the new
classroom building. Navarro College
Board of Trustee members believe that
any growth in a community starts with a
foundation of education.
Founded as a Christian ministry of healing, Baylor Health Care
System exists to serve all people through exemplary health care,
education, research and community service. Scheduled to open in
the Fall of 2014, at the intersection of I-35E and Highway 287, is
the new Baylor Medical Center at Waxahachie. In the works is a
plan to build an advanced medical center to care for the Ellis
County community and surrounding Waxahachie areas. According
to BaylorHealth.com, the new facility, which will be positioned on
approxiamtely 52 acres, will feature expanded patient services in a
variety of medical specialties, including women's services, labor
and delivery, cardiovascular care, wound care and outpatient
cancer services and accommodate 104 beds, in a 6-story hospital
bed tower with future growth capabilities. The new campus will be
constructed in accordance with Leadership in Energy and
Environmental Design, or LEED, certification guidelines.
Baylor Medical Center at Waxahachie is located east of the Lofts at
Crossroads at City Centre', across Highway 287, and just like the
subject property, it will reap benefits of visibility from two major
traffic corridors and superior accessibility to visitors and patients.
As the hospital embarks on its second century of service, it looks to
continue its strong role in the community which has included
providing more than $100 million in community benefit over the
years. The new development will create community based jobs and
spur economic growth.
AREA INFORMATION
SUMMARY PROFILE
2000-2010 Census, 2012 Estimates with 2017 Projections
Calculated using Proportional Block Groups
1 Mile
Radius
3 Mile
Radius
5 Mile
Radius
5,651
6,286
5,365
5,058
16,723
18,542
15,903
14,351
24,687
27,387
23,469
19,797
DEMOGRAPHICS
POPULATION
411 Alliance Blvd., Waxahachie, TX 75165
2012 Estimated Population
2017 Projected Population
2010 Census Population
2000 Census Population
48%
10%
Projected Annual Growth 2012 to 2017
Historical Annual Growth 2000 to 2012
2.2%
1.0%
2.2%
1.4%
2.2%
2.1%
32.6
31.4
32.4
2012 Estimated Households
2017 Projected Households
2010 Census Households
2000 Census Households
2,003
2,231
1,903
1,803
5,800
6,460
5,510
4,881
8,746
9,741
8,309
6,783
Projected Annual Growth 2012 to 2017
Historical Annual Growth 2000 to 2012
2.3%
0.9%
2.3%
1.6%
2.3%
2.4%
2012 Median Age
HOUSEHOLDS
30%
11%
1%
White
Black
Asian
Other
Hispanic
RACE AND ETHNICITY
29.7%
2012 Estimated White
2012 Estimated Black or African American
2012 Estimated Asian or Pacific Islander
2012 Estimated American Indian or Native Alaskan
2012 Estimated Other Races
68.1%
16.1%
0.6%
0.8%
14.3%
71.3%
14.4%
0.6%
0.8%
12.9%
72.2%
14.1%
0.7%
0.8%
12.3%
2012 Estimated Hispanic
29.7%
27.2%
25.5%
70.3%
EDUCATION
(AGE 25+)
INCOME
Non-Hispanic
2012 Estimated Average Household Income
2012 Estimated Median Household Income
2012 Estimated Per Capita Income
2012 Estimated Elementary (Grade Level 0 to 8)
2012 Estimated Some High School (Grade Level 9 to 11)
2012 Estimated High School Graduate
2012 Estimated Some College
2012 Estimated Associates Degree Only
2012 Estimated Bachelors Degree Only
2012 Estimated Graduate Degree
$64,274
$38,727
$23,516
$57,098
$44,681
$21,567
$57,953
$49,430
$22,191
5.9%
19.3%
31.8%
19.3%
4.8%
12.0%
6.8%
5.3%
15.5%
33.5%
23.2%
4.1%
11.8%
6.6%
4.9%
13.0%
33.7%
24.3%
4.5%
12.9%
6.7%
$65,000
$64,274
$64,000
$63,000
$62,000
$61,000
$60,000
BUSINESS
$59,000
$57,953
$58,000
2012 Estimated Total Businesses
2012 Estimated Total Employees
2012 Estimated Employee Population per Business
2012 Estimated Residential Population per Business
419
3,168
7.6
13.5
800
7,455
9.3
20.9
1,154
12,073
10.5
21.4
Hispanic
$57,000
$56,000
$55,000
$54,000
Subject
Waxahachie
A 268 UNIT CLASS "B-/C+" GARDEN APARTMENT COMMUNITY
EXCLUSIVELY PRESENTED BY
KET ENTERPRISES INCORPORATED
4295 San Felipe, Suite 355
Houston, TX 77027
Tel: (713)355-4646
Fax: (713)355-4331
www.ketent.com
.
Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including
data such as operating statements, rent rolls, etc. However, we (KET Enterprises Incorporated or any of the Owners or
officers, directors, employees, agents or representatives of any such entities) have not verified its accuracy and make no
guarantee or representation about it. It is submitted subject to the possibility of errors, omissions, change of rental or other
conditions. We include projections, opinions, assumptions or estimates for example only, and they may not represent current
or future performance of the property. We make no representations or warranties, expressed or implied, as to the validity,
accuracy or completeness of the information provided or to be provided, and nothing herein shall be deemed to constitute a
representation, warranty or promise by any such parties as to the future performance of the Property or any other matters set
forth herein. You and your tax and legal advisors should verify the information and rely on his accountants or attorneys for
legal and tax advice. Rates of return vary daily. No representations are made concerning environmental issues, if any.

Lofts at Crossroad Centre - KET Enterprises Incorporated

Transcription

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