6 Complete OM - Cape Landing

CAPE LANDING 288 RESIDENTIAL UNITS MYRTLE BEACH SC

(PHASE II POTENTIAL 886 ACRES 126 UNITS)

Cushman amp Wakefield is excited to present the exclusive listing of the 288-unit 1998-built Cape Landing apartments nestled next to the rapidly growing Market Common District in Myrtle Beach SC Located in a strong market with solid rent fundamentals Cape Landing offers a superior value-add opportunity in addition to the ability to build a 126-unit Phase II The property is also located in a well-established neighborhood offering an outstanding school system and high-end retail

INVESTMENT OFFERING

INVESTMENT SUMMARY

Address 3851 Cape Landing Drive

Myrtle Beach SC 29588

County Horry County

Site Size 298 Acres

Year Built 1998

Residential Units 288 Units

Net Residential Area 268632 SF

Avg Unit Size 933 SF

Avg Market Rent $870

Avg Market RentSF $096

Occupancy 97

As of 07132016 Includes 886 acres entitled for additional 126 units

TOUR DATESProperty Tours are to be scheduled Tuesdays through Thursdays directly with Brokers 72 hours in advance

DATA ACCESS

Historical Financial and Property

information is available at

multifamilycushwakecom

OFFERING PROCESS

Send offers via email to

WATSON BRYANT

watsonbryantcushwakecom

Offers should be in the form of

a Letter of Intent (LOI) and at

minimum include Price Earnest

Money Due Diligence Time

Period and Closing Period

CUSHMAN amp WAKEFIELD

440 S Church Street Suite 250 Charlotte NC 28202Phone 7049167151Fax 7048370590multifamilycushwakecom

AtlanticOcean

Gree

n Se

a Rd

S

Elm St

Pee D

ee R

d S

Choppee Rd

Pee Dee Hwy

Brunson Spring Rd

Cultra Rd

Broad St

N Kings Hwy

S Kings Hwy

Ocea

n Hwy

N Fr

aser

St

Veterans Hwy

Carolina Bays Pkwy

Waccamaw NationalWildlife Refuge

Broadway atthe Beach

Myrtle BeachIntrsquol Airport

TangerOutlet

Coastal GrandMall

CoastalCentre

Myrtle BeachMall

TangerOutlet

GardenCity

Loris

Socastee

Conway

SurfsideBeach

Murrel lsInlet

Forestbrook

RedHil l

Briarcl i f feAcres

AtlanticBeach

Litt le River

North MyrtleBeach

Bucksport

Aynor

MyrtleBeach

378

701

501

17

17

701

701

50122

908

51

9

9

905

905

90

544

707

90

31

31

904

261

410

319

22

BUS17

9

BRANDON WHITESELL

Vice Chair4048535200brandonwhitesellcushwakecom

CO-LEAD

WATSON BRYANT

Managing Director7049167157


MARC ROBINSON

Vice Chair7049167152marcrobinsoncushwakecom

CO-LEAD

ALEX BROWN

Associate Director4048535274alexbrowncushwakecom

JORDAN MCCARLEY

Executive Managing Director7049167151jordanmccarleycushwakecom

PAUL MARLEY

Senior Associate 7049167158paulmarleycushwakecom

JUSTIN VAN LEUVAN

Brokerage Associate6786872167justinvanleuvancushwakecom

TELLY FATHALY

Senior DirectorEquity Debt amp Structured Finance4048535280tellyfathalycushwakecom

TABLE OF CONTENTS

EXECUTIVE SUMMARY PG 1

PROPERTY DESCRIPTION PG 13

AREA OVERVIEW PG 26

APARTMENT MARKET PG 32

FINANCIAL ANALYSIS PG 43

1 | OFFERING MEMORANDUM

CAPE LANDING | EXECUTIVE SUMMARY

EXECUTIVE SUMMARYINVESTMENT HIGHLIGHTS

1 The area is witnessing a surge in single-family development with

8 new developments (1000 units) currently under construction with prices ranging from $200000 to $380000

2 Myrtle Beach is forecasted to post 12 rent growth through

2020 as population growth (over 71000) is expected to vastly outpace the current multifamily pipeline of just 581 units

3 Cape Landing is located in a highly desirable

community with an award winning school system and the most popular Myrtle Beach retail destinations within a three-mile drive

4 Cape Landing offers market supported value-add (competitors obtaining $64 to $90 premiums) in addition to the opportunity to build a 126-unit second phase

5 Total employment is expected

to grow by more than 27000 through 2020 as Average HHIrsquos are expected to rise to $93622

CUSHMAN amp WAKEFIELD | 2

EXECUTIVE SUMMARY | CAPE LANDING



THE MARKET COMMON

bull Located adjacent to the Market Common District which is anchored by the 114-acre Market Common development

bull The Market Common is a mixed-use lifestyle center featuring 43 high-end retail shops and 11 restaurants

bull The Market Common has served as a catalyst for new residential growth in the area

bull There are 8 new residential developments in various stages of construction with homes ranging from the $200rsquos to the $380rsquos

LOCATED IN THE PATH OF HIGH END RESIDENTIAL DEVELOPMENT

NEW RESIDENTIAL DEVELOPMENTS UNDER CONSTRUCTION

COMMUNITY OF UNITS HOME VALUES

1 Cresswind 400 From mid $200000rsquos

2 The Reserve at Market Common 108 From $216000

3 Emmens Preserve Montrose West 35 $200000rsquos to $280000rsquos

4 Highlands Withers Preserve 80 $200000rsquos to $300rsquo000rsquos

5 Sanctuary Withers Preserve 74 $200000 to $380000

6 Estates at Withers Preserve 100 From $299000

7 Balmoral Market Common 100 From $332000

8 Monarch Estates at Emmens Preserve 100 From $200000

TOTAL 997 Units NA

Estimated number of units

17

CAPE LANDING

THE COMMON MARKET

12

8

76

5

3

4



LOCATED IN THE PATH OF HIGH-END RESIDENTIAL DEVELOPMENT

NEARBY DEVELOPMENT - MARKET COMMON

The Market Common a 114-acre lifestyle center is located less than 2 miles from Cape Landing The Market Common is a place where you can experience exceptional shopping and dining in a beautifully-designed village setting From the nationrsquos most celebrated names in retail

to ice cream and pizza for the kids and from one-of-a-kind restaurants to the most comfortable movie theater at the beach The Market Common is a true area destination

- E V E N T S - - S H O P - - D I N E - - L I V E -



AVERAGE HHI EXPECTING 19 GROWTH

Population job growth and household formation are expected to vastly outpace multifamily supply additions The muted multifamily supply pipeline includes just 581 new market rate units with 276 units currently under construction and 305 units in the planning process

The muted supply pales in comparison to the expected population growth Between Q1-2016 and 2020 the Myrtle Beach market is forecasted to add 71510 new residents 27510 new jobs and 35760 new households In addition Average HHI is expected to rise from $78870 to $93622 ndash a 19 growth

As a result average asking rent is expected to continue its upward trajectory Average asking rent in Myrtle Beach has risen every year since 2010 and is expected to rise an additional 12 through 2020

00

20

40

60

80

100

120

140

160

$700

$750

$800

$850

$900

$950

$1000

Vacan

cy

Avg

Ask

ing

Re

nt

Avg Asking Rent Vacancy

EXCELLENT FUNDAMENTALS TO SUPPORT STRONG RENT GROWTH

RENT GROWTH

0

200

400

600

800

1000

1200

1400

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Un

its

De

live

red

MYRTLE BEACH PIPELINE

12 Rent growth through 2020

581 Units under construction or planned

27510 new jobs by 2020

vs



HIGHLY RANKED ASSIGNED SCHOOLS

bull Located in an award winning school system with 41 area schools recently receiving a Palmetto Gold or Silver Award

bull The assigned schools are all highly ranked on GreatSchoolsorg with both the Elementary and Middle Schools receiving a 910 star ranking

bull Located within close proximity of upscale retail centers including Market Common Coastal Grand Mall and Tanger Outlets

bull The popular 220-acre Grand Park is a multi-million dollar sports facility with 7 multipurpose fields 2 youth fields a 6-tunnel batting cage and 3 towers for concessions and restrooms

EXCELLENT SCHOOL SYSTEM amp UPSCALE SHOPPING

LAKEWOOD ELEMENTARY

SOCASTEE HIGH

FORESTBROOK MIDDLE

Lakewood ElementaryForestbrook MiddleSocastee High

THE MARKET COMMON amp GRAND PARK SITE PLAN

THE MARKET COMMON

GRAND PARK

GRAND PARK COMPLEX



NEARBY RETAIL CENTERS



ADDITIONAL RENT GROWTH

Cape Landing offers significant value-add upside substantiated by the market with additional high-end competition providing an additional rent growth runway

bull Value-add submarket competitors are achieving premiums between $64 and $90 for their upgraded units

VALUE-ADD COMPETITORS

FLINTLAKE CLAYPOND COMMONS

Premiums on Upgraded Units

$90 $64

Upgrade Finishes bull Stainless Steel Appliances

bull Faux-Wood Flooring

bull New Lighting Packages

bull New Plumbing Fixtures

bull New Cabinetry

bull New Carpet

bull Black Appliances


bull Refinished Countertops


bull Two-Tone Paint

SIGNIFICANT VALUE-ADD UPSIDE

FLINTLAKEINTERIOR UPGRADES

CLAYPOND COMMONSINTERIOR UPGRADES



$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)

SubmarketAverage (2004)

Alta Surf (2007) Latitude at theCommons

(2009)

Waterleaf atPalmetto Pointe

(2015)

Residences atthe Market

Common (2009)

126-UNIT PHASE II OPPORTUNITY

DELTA TO A+ COMPETITION - ORGANIC RENT GROWTH RUNWAY

$124 below submarket average

$129 to $335 below top-of-the-line competition

PHASE II(886 ACRES ENTITLED FOR AN ADDITIONAL

126 UNITS)

PHASE I

PHASE II

886 ACRES FOR ADDITIONAL UNITS

Cape Landing offers an additional value creation opportunity with the possibility of developing a second phase The investment opportunity includes 886 acres of adjacent land entitled for an additional 126 units

bull New high-end competitors are achieving average rents between $129 and $335 higher than Cape Landing



BOOMING amp DIVERSIFIED MYRTLE BEACH ECONOMY

130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

mp

loym

en

t

Ave

rag

e H

ou

seh

old

Inco

me

Avg Household Income Total Employment

RAPIDLY EXPANDING ECONOMY BECOMING INCREASINGLY DIVERSIFIED

bull A huge increase in the number of retirees is driving job

gains in the healthcare industry which is projected to

grow at twice the national rate over the next decade

bull Tourism employment has rebounded the number of

tourists has risen 25 since 2009

bull Overall population gains are projected to be three

times higher than the national average through 2020

bull Average household Income is expected to increase

from $78870 in 2016 to $93622 by 2020 an increase

of 19

bull Anchor industry Leisure and Hospitality comprises 25

of total employment with Healthcare burgeoning

bull Total employment has benefited as well with more

than 27000 new jobs to be added by 2020

MYRTLE BEACH AVG HOUSEHOLD INCOME VS TOTAL EMPLOYMENT

00

05

10

15

20

25

30

35

40

YO

Y P

op

ulat

ion

Gro

wth

20

14-1

5SOUTHEAST POPULATION GROWTH 2014-15

2ND FASTEST GROWING MSA IN THE NATION

27510projected new jobs

to be added by 2020

19projected increase in average household income by 2020

For the second year in a row the Myrtle Beach MSA is the second fastest growing metro area in the nation From July 2014-2015 the population increased 35



NORTHWEST VIEW

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SOUTHEAST VIEW

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CAPE LANDING | PROPERTY DESCRIPTION


PROPERTY DESCRIPTION


PROPERTY DESCRIPTION | CAPE LANDING



PROPERTY SUMMARY - RESIDENTIALNumber of Units 288 Units

Year Completed 1998

Year(s) Renovated 2015 (clubhouse)

Stories 3 Stories

Net Rentable Area 268632 SF

Average Unit Size 933 SF

SITE

Address 3851 Cape Landing Drive Myrtle Beach SC 29588

County Horry County

SizeDensity Phase I (288 Units) 2097 Acres 1373 Units per Acre

Phase II (126 Potential Units) 886 Acres 1422 Units per Acre

Location Property accessible to the east from Northgate

Boulevard or from Palmetto Pointe Boulevard The two

parcels of land in addition to the developed multifamily

buildings consist of a mixture of undeveloped land and

a lake

Parking 631 Total Spaces 219 per Unit

UTILITIES

SERVICEUTILITY SOURCECOMPANY PAID BY

HVACHot WaterCooking Electric Santee Cooper Resident

WaterSewer Grand Strand Water amp Sewer Billed by NWP

Resident

Trash Removal Billed by NWP Resident ($12 month)

CableInternet amp Phone HTC Resident

Pest Control Lanes Pest Control Resident ($350 month)

WS charged to each unit by calculating number of occupants per unit



IMPROVEMENTS

Buildings 14 Buildings 3 Others Clubhouse Leasing Office and

Maintenance Buildings

Structures Wood-frame buildings on slab on grade foundation

subfloors are plywood with gypcrete on top exteriors

consist of vinyl siding and Clubhouse amp Office Exterior

is stucco

Roofs Pitched with Wood Frame Truss Finished with

plywood sheathing a waterproof membrane and ashalt

composition shingles

Breezeways Painted T 1-11 paneling along covered breezeways and

painted wood trim with concrete base flooring - stairs

are wood

Fenestration Unit entry doors are paneled insulated steel and

windows are horizontal sliders with aluminum frames

SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety

Heat Pump with AC Condensing Unit on roof

All electric

PVC (Both Supply amp Waste) and Individual Electric

Water Heaters (40 gal)

Buildings are not sprinklered Units are equipped with

hard-wired smoke detectors with battery back-up

Property served by 4 hydrants and fire extinguishers in

units or breezeways



COMMUNITY AMENITIES

bull Elegant Clubhouse

bull Swimming Pool w Sundeck

bull 2 Gas Grilling Stations

bull Picnic Pavilion w Charcoal

Grills

bull 24-Hour Fitness Center

bull Relaxing Sauna

bull Executive Business Center

bull Clubroom w Billards Table amp

Flat Screen TV

bull Beach Volleyball Court

bull 24-Hour Emergency

Maintenance

bull Complimentary Poolside WiFi

bull Coffee Bar

bull Playground









RESIDENCE FEATURES

bull Full sized WasherDryer

bull Resurfaced Countertops

bull Updated Cabinetry

bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding

bull Spacious Bedrooms

bull Premium Carpet

bull Private Patio Balcony

bull Pantry Storage

bull Dishwasher

bull Wood-Burning Fireplaces

bull Double Basin Stainless Steel

Sink

bull Disposal

bull Walk-in Closets

Select Units



INTERIORS

Finish 8rsquo Ceilings with crown molding painted walls and ceilings carpeted

living areas vinyl entry kitchen and bathroom floors window

blinds paneled interior doors ceiling fans (select units) private patio

or balcony and exterior storage closets Select units have walk-in

closets entryway coat closets pantry and linen closets wood-burning

fireplaces in 153 units washer amp dryer connections in every unit

(except the 15 handicap units)

Kitchens Laminate wood cabinets laminate counter tops frost-free refrigerator

with icemaker electric rangeoven with overhead vent hood

dishwasher double-basin stainless steel sink with disposal

Bathrooms Base vanity cabinet laminate countertop with drop-in porcelain sink

porcelain commode fiberglass tub shower with fiberglass surround

oversized - vanity mirror medicine cabinet and Hollywood lighting

Renovations Clubhouse was renovated in 2015 Unit upgrade details two inch

(2rdquo) blinds - 85 units resurfaced countertops - 101 units crown

molding - 73 units baseboards - 17 units faux-wood flooring - 91

units premium carpet - 42 units cabinets - 80 units



UNIT MIX SUMMARYTYPE NAME SIZE (SF) RENTSQ FT

1BR 1BA (HC) The Cape 695 $110

1BR 1BA The Cape 695 $109

1BR 1BA The Hatteras 744 $105

2BR 2BA The Seagrass 883 $099

2BR 2BA The Palmetto 1108 $085

3BR 2BA The Driftwood 1356 $079

Total Avg 288 933 Avg $096 SF Avg

(HC) Handicapped Unit

TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF



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SITE MAP



CAPE LANDING | AREA OVERVIEW


AREA OVERVIEW


AREA OVERVIEW | CAPE LANDING





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SITE MAP


MYRTLE BEACHby the Numbers

MYRTLE BEACH ldquoGRAND STRANDrdquo

AccolAdes

MSA Population - 2014 (Horry Georgetown amp Brunswick Counties)

478441

MSA Population - 2010 436880

Total Employment Level 154212

Unemployment Rate (Nov 2015) 66

Cost of Living Index 101

Cost of Business Index 82

Key Industries Tourism Retirement and Healthcare

Primary Growth Sectors LeisureHospitality Healthcare and Education

bull Top 20 Southern Cities for Jobs Right NowZipRecruiter

bull 5 States with the Best Regulatory EnvironmentForbes Magazine

bull 9 Most Tax-Friendly States Kiplinger

bull 2 Top States for Doing Business AreaDevelopment Magazine

bull 8 States with Best Business Climate BusinessFacilities Magazine

bull Top 25 Destinations in US TripAdvisor

bull 50 Coolest Things in America Yahoo Travel(Myrtle Beachrsquos Apache Pier)

bull 3 Best Family Vacations in the USA US Newsamp World Report

bull 10 Best Golf Destinations USA Today

bull Best Place to Kick Back ConventionSouthMagazine

bull 10 Best Beaches for Families Family VacationCritic

bull Top 10 Most Searched for Travel DestinationsYahoo

bull Top East Coast Beaches Flipkeycom

Source 2016 Myrtle Beach Regional EconomicDevelopment Corporation wwwmbredcorg



MYRTLE WAVES WATER PARKMYRTLE BEACH SC - THE GRAND STRANDStrategically located in northeast South Carolina between Charleston and Wilmington NC the coastal resort city serves as a hub of the Grand Strand a complex of beach towns and barrier islands stretching 60 miles from Little River to Georgetown SC Myrtle Beach a world-famous tourist destination is home to thousands of new residents each year and for the second year in a row the Myrtle Beach MSA is the second fastest growing metro in the nation according to the US Census Bureau From July 2014-2015 the population increased 35

Myrtle Beach is the heart of South Carolinarsquos booming $19B tourism industry which has helped fuel the growth of the arearsquos permanent population The city is home to Myrtle Waves one of the largest water parks on the eastern seaboard the Carolina Opry the Myrtle Beach Boardwalk US Myrtle Beach State Park Hard Rock Park and more than 90 golf courses Per the SC Department of Parks Recreation amp Tourism golf generates more income than any other recreational activity in the state The region hosts 14M visitors annually Since 2009 the number of tourists visiting Myrtle Beach has risen by 25 many of which are traveling from farther away as is evident in increased traffic at Myrtle Beach International Airport The airport which recently opened its new $118M 274K SF terminal is on pace to receive a record number of passengers this year thanks to low airfares Further the addition of more Allegiant Air flights since 2013 has extended the cityrsquos reach into new markets

BOOMING RETIREMENT DESTINATIONThe features that make the metro area a prime tourist destination also make it an ideal place to retire Residents age 65 and older account for nearly a quarter of Myrtle Beachrsquos population Increasing demand for health services will drive strong job gains in healthcare forecasted by Moodyrsquos to grow at approximately double the national rate during the next decade Moodyrsquos also forecasts overall population gains in Myrtle Beach to be three times greater than the national average which will support above-average growth in other service-based industries

RECENT ECONOMIC NEWSbull 2015 McLeod Health Systems broke

ground on the $20M Phase I of a planned 43-acre healthcare campus

bull 2015 Canadian-based manufacturerAccent Stainless Steel broke ground onits $31M 50K SF American HQ with 65high-skilled jobs

bull 2015 STARTEK Inc added 300additional jobs to its existing350-employee staff at its new $10Mcustomer support center

bull 2015 Medical life safety systemsprovider Star Life Safety announced

a new office with 36 jobs reflecting a $470K capital investment

bull 2015 Little Spider Creations a specialtyprop and set production companybased in Denver CO will invest $265Mand add 35 jobs

bull 2015 Worksman Cycles announced a$25M expansion with 50 new jobs

bull 2013-present The Myrtle Beach MSAranked as the second fastest growingMSA in the nation

bull 2013 Frontier Communications openeda call center with 116 new jobs

HORRY COUNTYrsquoS FOCUS ON ECONOMIC GROWTHStrategically located in the Southeastrsquos Aviation Corridor Horry County is a prime location for businesses in the aerospace and aviation industry and is home to the Pittsburgh Institute of Aeronautics Myrtle Beach campus The 460-acre International Technology amp Aerospace Park (ITAP) located on the former Myrtle Beach AFB adjacent to the airport was developed as a future base for aerospace industries The Myrtle Beach Regional Economic Development Corp is currently focused on attracting corporate headquarters to ITAP and other development-ready sites

MCLEOD HEALTH CAROLINA FOREST


HEALTHCARE BURGEONING ECONOMIC DRIVERThree outstanding hospital systems serve the Myrtle Beach region Grand Strand Regional Medical Center Tidelands Georgetown Memorial Hospital and McLeod Loris Health

Grand Strand Medical Center is a 301-bed Level II Traumer Center and has been recognized by The Joint Commission as a Top Perform in Key Quality Measures for Heart Attack Heart Failure Pneumonia and Surgical Care The hospital was the second in the nation to achieve disease specific care certification for sepsis by The Joint CommissionTidelands Georgetown Memorial Hospital is a 131-bed advanced primary stroke center an accredited chest pain center and a Joint Commission-certified joint replacement center Conway Medical Center recently opened two new surgical suites at its 210-bed inpatient facility

McLeod Health Systems broke ground in 2015 on Phase I of the 43-acre McLeod Seacoast Carolina Forest campus on International Drive The $20M Phase I of the development will include an emergency center medical office physical therapy and rehabilitation services and medical specialists

NOTABLE EDUCATIONAL ACHIEVEMENTSMore than $500M has been invested in the Horry County School District over the past decade The system has produced (1) National Merit Scholarship semifinalists and winners (2) eight National Blue Ribbon Schools of Excellence (3) SAT scores 33 points above the state average and (4) the highest-performing International Baccalaureate program in the state - 94 of students seeking IB diplomas received them

Coastal Carolina University (10263 enrolled) and Horry-Georgetown Technical College (6969 enrolled) offer training and educational advancement in more than 60 fields of study Webster University provides workers with an alternative educational opportunity to complete their graduate degrees


COASTAL CAROLINA UNIVERSITY



EMPLOYER JOBS

Horry County School District 5473

Walmart Stores 2623

Horry County Government 2178

Coastal Carolina University 1582

Conway Medical Center 1400

Grand Strand Medical Center 1200

Food Lion Stores 1040

EMPLOYER JOBS

McLeod Loris Health 940

Blue CrossBlue Shield 837

City of Myrtle Beach 830

National Golf Management 800

Horry Telephone Cooperative 684

Wyndham Vacation Ownership 650

City of North Myrtle Beach 612

EMPLOYER JOBS

Lowersquos Building Supply 603

Kingston Plantation 550

Bi-Lo Stores 468

Ocean Lakes Campground 450

Santee Cooper Electric 340

Grand Strand Electric 301

Source Myrtle Beach Regional Economic Development Corporation wwwmbredcorg

CONWAY MEDICAL CENTER GRAND STRAND REGIONAL MEDICAL CENTER

DOUGLAS COUNTY TOP EMPLOYERS

CAPE LANDING | APARTMENT MARKET


APARTMENT MARKET


APARTMENT MARKET | CAPE LANDING



PROPERTY OFUNITS

YEARBUILT OCCUPANCY APPROX

SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094

1 River Landing 340 2002 96 971 $782 $0812 Flintlake 272 1997 96 1146 $989 $0863 Latitude at the Commons 288 2009 92 956 $1047 $1104 Palmetto Pointe 320 1999 97 879 $936 $1065 Ivystone at Palmetto Pointe 664 2002 99 1033 $871 $0846 Claypond Commons 188 2000 98 723 $811 $1127 Waterleaf at Palmetto Pointe 216 2015 95 916 $1076 $1178 Alta Surf 216 2007 99 966 $1003 $104

9 Residences at the MarketCommon 125 2009 98 961 $1209 $126

AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT

Claypond Commons Studio 384 $639 $166

Claypond Commons 1 BR 1 BA 600 $819 $137


Palmetto Pointe 1 BR 1 BA 652 $850 $130

Waterleaf at Palmetto Pointe 1 BR 1 BA PH II 708 $915 $129Residences at the MarketCommon Studio 642 $824 $128

Residences at the MarketCommon 1 BR 1 BA 950 $1167 $123



Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109

Cape Landing 1 BR 1 BA 695 $743 $107

Latitude at the Commons 1 BR 1 BA 816 $863 $106


Flintlake 1 BR 1 BA 810 $859 $106


Cape Landing 1 BR 1 BA (HC) 695 $721 $104

River Landing 1 BR 1 BA 685 $648 $095


AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT



Waterleaf at Palmetto Pointe 1 BR 1 BA PH II 708 $915 $129Alta Surf 1 BR 1 BA 833 $910 $109Palmetto Pointe 1 BR 1 BA 736 $899 $122Alta Surf 1 BR 1 BA 761 $885 $116Latitude at the Commons 1 BR 1 BA 816 $863 $106Flintlake 1 BR 1 BA 810 $859 $106Palmetto Pointe 1 BR 1 BA 652 $850 $130Latitude at the Commons 1 BR 1 BA 780 $827 $106Residences at the MarketCommon Studio 642 $824 $128

Claypond Commons 1 BR 1 BA 600 $819 $137Cape Landing 1 BR 1 BA 744 $775 $104Claypond Commons 1 BR 1 BA 578 $749 $130Cape Landing 1 BR 1 BA 695 $743 $107Cape Landing 1 BR 1 BA (HC) 695 $721 $104River Landing 1 BR 1 BA 771 $698 $091River Landing 1 BR 1 BA 685 $648 $095Claypond Commons Studio 384 $639 $166

AVERAGES 719 $831 $117

(HC) Handicap Unit

RANKED BY RENT PER SQUARE FOOT

ONE BEDROOM

RANKED BY RENT PER UNIT



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





Waterleaf at Palmetto Pointe 2 BR 2 BA PH II 1050 $1175 $112

Waterleaf at Palmetto Pointe 2 BR 2 BA PH I 968 $1075 $111


Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086

Ivystone at Palmetto Pointe 2 BR 2 BA 1000 $850 $085



AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT



Latitude at the Commons 2 BR 2 BA 1260 $1484 $118Latitude at the Commons 2 BR 2 BA 1060 $1199 $113Latitude at the Commons 2 BR 2 BA 1096 $1199 $109Waterleaf at Palmetto Pointe 2 BR 2 BA PH II 1050 $1175 $112Alta Surf 2 BR 2 BA 1140 $1115 $098Waterleaf at Palmetto Pointe 2 BR 2 BA PH I 968 $1075 $111Alta Surf 2 BR 2 BA 1064 $1060 $100Flintlake 2 BR 2 BA 1145 $1055 $092Palmetto Pointe 2 BR 2 BA 1040 $999 $096Cape Landing 2 BR 2 BA 1108 $949 $086Flintlake 2 BR 2 BA 1086 $929 $086Palmetto Pointe 2 BR 1 BA 943 $915 $097Claypond Commons 2 BR 2 BA 890 $878 $099Cape Landing 2 BR 2 BA 883 $857 $097Claypond Commons 2 BR 2 BA 890 $853 $096Ivystone at Palmetto Pointe 2 BR 2 BA 1000 $850 $085River Landing 2 BR 2 BA 1035 $819 $079Claypond Commons 2 BR 1 BA 890 $779 $088River Landing 2 BR 2 BA 950 $769 $081

AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT






Flintlake 3 BR 25 BA (TH) 1508 $1150 $076


AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT

Waterleaf at Palmetto Pointe 3 BR 2 BA PH II 1252 $1395 $111Waterleaf at Palmetto Pointe 3 BR 2 BA PH I 1161 $1295 $112Palmetto Pointe 3 BR 2 BA 1276 $1199 $094Flintlake 3 BR 25 BA (TH) 1508 $1150 $076Cape Landing 3 BR 2 BA 1356 $1125 $083River Landing 3 BR 2 BA 1456 $994 $068Ivystone at Palmetto Pointe 3 BR 2 BA 1200 $975 $081

AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM




UNIT TYPE OF UNITS SIZE SF EFF RENT EFF RENTSF1 BR 1 BA (HC) 15 695 $721 $1041 BR 1 BA 57 695 $743 $1071 BR 1 BA 60 744 $775 $1042 BR 2 BA 48 883 $857 $0972 BR 2 BA 60 1108 $949 $0863 BR 2 BA 48 1356 $1125 $083TOTALAVG 288 932 $874 $094

(HC) Handicap Unit

Electric Tenant Water and Sewer Tenant

UNIT MIX AND RENTAL RATES

FEATURES AND AMENITIES

Upgraded Interiors AvailableWasher amp Dryer ConnectionsPrivate Patio BalconyWood Vinyl FlooringCustom Accent Wall Colors AvailableWalk-In Closet(s)Linen ClosetWood Burning FireplaceExterior StorageClubhouseSwimming Pool w WiFi

Fitness Center w SaunaSand Volleyball CourtBoat RV Parking AvailablePlaygroundTennis CourtsLakeside GazeboBBQ amp Picnic AreaLaundry FacilityCyber CafeBilliards Room

UTILITIES

Natural Gas Property (Common Area Only) Trash Removal Tenant ($12month)

COMMENTS

The property uses Yieldstar for daily pricing and is not currently offering any leasing specials Watersewer usage is billed to the tenants based on a per occupant allocation Tenants pay an additional $12 monthly fee for trash removal services

Cape Landing3851 Cape LandingMyrtle Beach SC 29588Horry County

1998Year Built288Total UnitsGardenProperty Type268632 SFTotal Area (SF)97OccupancyGreystarManagement

UNIT TYPE OF UNITS SIZE SF EFF RENT EFF RENTSF

1 BR 1 BA 52 685 $648 $0951 BR 1 BA 52 771 $698 $0912 BR 2 BA 96 950 $769 $0812 BR 2 BA 96 1035 $819 $0793 BR 2 BA 44 1456 $994 $068TOTALAVG 340 972 $782 $081

Electric Tenant Water and Sewer TenantNatural Gas NA Trash Removal Tenant

The property uses LRO for daily pricing and is currently not offering any leasingspecials



ClubhouseBusiness CenterDetached Garages AvailableFitness CenterGrill Picnic AreaLaundry RoomPlaygroundSwimming PoolTennis Courts

Volleyball CourtCeiling FansBuilt-In MicrowavesWasherDryer ConnectionsDishwasher amp Disposal8 CeilingsWhite AppliancesFrieze CarpetingSunrooms Available

UTILITIES

COMMENTS

200 River Landing BoulevardMyrtle Beach SC 29579Horry County

River Landing

2002Year Built340Total UnitsGardenProperty Type330336 SFTotal Area (SF)96OccupancyRE Carroll ManagementManagement

1

UNIT MIX AND RENTAL RATES UNIT MIX AND RENTAL RATES



UTILITIES

UTILITIES

COMMENTS

COMMENTS




1 BR 1 BA 48 810 $859 $1062 BR 2 BA 114 1086 $929 $0862 BR 2 BA 46 1145 $1055 $0923 BR 25 BA (TH) 64 1508 $1150 $076TOTALAVG 272 1147 $989 $086

(TH) Townhome


The property does not use daily pricing software and is currently not offering anyleasing specials They began upgrading units last year to include new carpetsstainless steel appliances new lighting and plumbing fixtures wood vinyl flooringand new cabinetry Upgraded units are being charged a $90 premium on top of therates listed above



ClubhouseTwo Swimming Pools with WiFiDetached Garages AvailableBusiness CenterFitness CenterStorage Units AvailableGrill Picnic AreaTwo Car Care Centers

Full-Size WD ConnectionsDishwasher amp DisposalCeiling FansVaulted Ceilings (Select Units)Walk-In Closets (Select Units)Upgraded Units (Select Units)Accent Walls AvailableBreakfast Bar (Select Units)

UTILITIES

COMMENTS

650 West Flintlake CourtMyrtle Beach SC 29579Horry County

Flintlake

1997Year Built272Total UnitsGarden ampamp THProperty Type311866 SFTotal Area (SF)96OccupancyDrucker amp FalkManagement

2




The property uses Yieldstar for daily pricing and is not offering any leasing specials



ClubhouseSwimming PoolOutdoor CabanaStainless Steel GrillsBusiness CenterFitness CenterBilliard and Entertainment RoomComplimentary BicyclesDetached Garages Available

9 CeilingsBlack AppliancesBuilt-In MicrowavesWalk-In ClosetsWasherDryer ConnectionsPendant LightingFaux Wood FlooringMaple CabinetryPatioBalcony with Storage

UTILITIES

COMMENTS

2222 Crow LaneMyrtle Beach SC 29577Horry County

Latitude at the Commons

2009Year Built288Total UnitsGardenProperty Type275472 SFTotal Area (SF)92OccupancyChartwell HoldingsManagement

3


FEATURES AND AMENITIESFEATURES AND AMENITIES

UTILITIESUTILITIES

COMMENTSCOMMENTS





Electric Tenant Water and Sewer TenantNatural Gas NA Trash Removal Property

The property is currently not offering any leasing specials



ClubhouseDog ParkFitness CenterLaundry FacilitySwimming PoolTennis CourtPicnic AreaBusiness CenterCar Care Center

9 CeilingsBlack AppliancesWalk-In ClosetsCeilings FansDishwasher amp DisposalFull-Size WasherDryer ConnectionsPatio BalconyBuilt-In MicrowaveFireplace (Select Units)

UTILITIES

COMMENTS

3919 Carnegie AvenueMyrtle Beach SC 29588Horry County

Palmetto Pointe

1999Year Built320Total UnitsGardenProperty Type281540 SFTotal Area (SF)97OccupancyJMG RealtyManagement

4


2 BR 2 BA 552 1000 $850 $0853 BR 2 BA 112 1200 $975 $081TOTALAVG 664 1034 $871 $084


The property is not currently offering any leasing specials Trash and pest control areincluded in the rental rates shown above



Swimming Pools (2)ClubhouseFitness CenterWasherDryer HookupsPrivate BalconyPatioCeiling Fans

Faux-Wood Flooring8 CeilingsWhite AppliancesBuilt-In MicrowaveDishwasher amp Disposal

UTILITIES

COMMENTS

305 Brookfield DriveMyrtle Beach SC 29588Horry County

Ivystone at Palmetto Pointe

2002Year Built664Total UnitsGardenProperty Type686400 SFTotal Area (SF)99OccupancyPowers PropertiesManagement

5




UTILITIES

UTILITIES

COMMENTS

COMMENTS




Studio 20 384 $639 $1661 BR 1 BA 10 578 $749 $1301 BR 1 BA 62 600 $819 $1372 BR 1 BA 11 890 $779 $0882 BR 2 BA 67 890 $853 $0962 BR 2 BA 18 890 $878 $099TOTALAVG 188 724 $811 $112


The company is not using any daily pricing software They have upgraded 17 of theunits and and are obtaining $64 rent premiums The upgraded units include newblack appliances two-tone paint faux-wood flooring refinished countertops andupgraded lighting fixtures



ClubhouseSwimming Pool with Sun DeckBusiness CenterClothes Care CenterPlaygroundHealth HubPup Town ParkPicnic amp Grilling AreasLake with Fountain

Upgraded Units Available8 CeilingsPrivate Patio BalconyFully Equipped KitchensFaux-Wood FlooringWalk-In ClosetsWasherDryer ConnectionsExtra StorageSix-Panel Doors (Select Units)

UTILITIES

COMMENTS

101 Rexford CourtMyrtle Beach SC 29579Horry County

Claypond Commons

2000Year Built188Total UnitsGardenProperty Type136100 SFTotal Area (SF)98OccupancyHamilton PointManagement

6


1 BR 1 BA PH II 84 708 $915 $1292 BR 2 BA PH I 36 968 $1075 $1112 BR 2 BA PH II 72 1050 $1175 $1123 BR 2 BA PH I 12 1161 $1295 $1123 BR 2 BA PH II 12 1252 $1395 $111TOTALAVG 216 921 $1076 $117


The property uses daily pricing software and is currently not offering any leasingspecials The property was constructed in two phases (2010 amp 2015) and is fullyleased up All units come with a washer and dryer



ClubhouseBusiness CenterOutdoor Cabana with FireplaceOutdoor GrillsFitness CenterComplimentary BicyclesFree WiFi in Amenity Areas9 Ceilings (15 on Top Floor)

Upgraded CabinetryBlack AppliancesBuilt-In MicrowaveFaux-Wood FlooringDishwasher amp DisposalCeiling FansWalk-In ClosetsGarden Soaking Tub

UTILITIES

COMMENTS

3815 Maypop CircleMyrtle Beach SC 29588Horry County

Waterleaf at Palmetto Pointe

2015Year Built216Total UnitsGardenProperty Type197868 SFTotal Area (SF)95OccupancyNHEManagement

7




UTILITIES

UTILITIES

COMMENTS

COMMENTS




1 BR 1 BA 48 761 $885 $1161 BR 1 BA 48 833 $910 $1092 BR 2 BA 60 1064 $1060 $1002 BR 2 BA 60 1140 $1115 $098TOTALAVG 216 966 $1003 $104


The property is currently offering $199 off the first months rent for all units on the thirdfloor $299 for all units on the second floor and $399 for all units on the first floorThese concessions have not been factored into the pricing shown above All utilitiesare paid separate of the rental rates by tenants



Car Care CenterClubhouseDetached GaragesBilliards and Game RoomSwimming PoolFitness CenterCar Care CenterBusiness CenterPet ParkGourmet Kitchens

Black AppliancesCrown MoldingWalk-In ClosetsDesigner Maple Cabinetry9 CeilingsCeiling FansDishwasher amp DisposalsWasherDryer ConnectionsBuilt-In MicrowavesBuilt-In Computer Desks (Select Units)

UTILITIES

COMMENTS

101 Breakers DriveMyrtle Beach SC 29579Horry County

Alta Surf

2007Year Built216Total UnitsGardenProperty Type208752 SFTotal Area (SF)99OccupancyEller ResidentialManagement

8


Studio 16 642 $824 $1281 BR 1 BA 52 819 $1007 $1231 BR 1 BA 14 950 $1167 $1232 BR 2 BA 28 1235 $1580 $1282 BR 2 BA 15 1295 $1669 $129TOTALAVG 125 961 $1209 $126

Electric Tenant Water and Sewer PropertyNatural Gas NA Trash Removal Property

The property is not currently offering any leasing specials While watersewer andtrash removal services are included in the rental rates paid they have beenexcluded from the effective rents shown above



Parking GaragesElevators24 Hour Ambassador ServiceFitness CenterLounge Area with HammocksTwo On-Site SpasSwimming Pool with Lazy RiverVolleyball NetTwo Hot Tubs

Ping Pong TablesTrack LightingWasherDryer IncludedWalk-In ClosetsBreakfast Bar or IslandKitchen PantryMicrowave OvenCable amp Internet Ready

UTILITIES

COMMENTS

4017 Deville StreetMyrtle Beach SC 29577Horry County County

Residences at the Market Common

2009Year Built125Total UnitsMidriseProperty Type120165 SFTotal Area (SF)98OccupancyOwner ManagedManagement

9



UTILITIESUTILITIES

COMMENTS COMMENTS



CAPE LANDING | FINANCIAL ANALYSIS


FINANCIAL ANALYSIS


FINANCIAL ANALYSIS | CAPE LANDING



CAPE LANDING 3851 Cape Landing DriveMyrtle Beach SC 29588Horry County

Year Built 1998Number of Units 288 Property Type GardenApproximate Rentable Area 268632Buildings 14 BuildingsStories 3 StoriesSite Size (Acres) 2983Density (Units Per Acre) 965Occupancy (As of 7132016) 97Management Greystar

UNIT MIX AND RENTAL RATESUNIT TYPE OF UNITS SIZE SQ FT TOTAL SQ FT MARKET RENT RENTSQ FT MONTHLY RENT

1 BR 1 BA (HC) 15 695 10425 $705 $101 $105681 BR 1 BA 57 695 39615 $757 $109 $431521 BR 1 BA 60 744 44640 $784 $105 $470452 BR 2 BA 48 883 42384 $870 $099 $417622 BR 2 BA 60 1108 66480 $946 $085 $567353 BR 2 BA 48 1356 65088 $1069 $079 $51316

TOTALSAVERAGES 288 933 268632 $870 $096 $250577(HC) Handicapped Unit

UTILITIESPROVIDER

COMMENTS

TYPE PAID BYElectric Tenant

Water and Sewer TenantNatural Gas NA

Trash Removal Tenant ($12month)




UNIT MIX CHARTUNIT TYPE OF UNITS SIZE SQ FT TOTAL SQ FT MARKET RENT RENTSQ FT MONTHLY RENT



1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17



INCOME TOTAL PER UNIT PER MONTH TOTAL PER UNIT PER MONTH TOTAL PER UNIT PER MONTH1 Scheduled Gross Income $2952008 $10250 $246001 $2952168 $10251 $246014 $3097135 $10754 $2580952 Concessions Loss-to-Lease (6163) (21) (514) 20859 72 1738 (30971) (108) (2581)3 Delinquency (1) (18392) (64) (1533) (18392) (64) (1533) (15486) (54) (1290)

Gross Operating Income $2927453 $10165 $243954 $2954635 $10259 $246220 $3050678 $10593 $2542234 Vacancy (139115) (483) (11593) (85628) (297) (7136) (154857) (538) (12905)5 Non-Revenue Units (15230) (53) (1269) (17602) (61) (1467) (10441) (36) (870)

Effective Gross Income $2773108 $9629 $231092 $2851405 $9901 $237617 $2885381 $10019 $2404486 Other Income (1) 347569 1207 28964 347569 1207 28964 352512 1224 29376

Total Operating Income $3120677 $10836 $260056 $3198974 $11108 $266581 $3237893 $11243 $269824

EXPENSES7 Repairs and Maintenance (2) $216000 $750 $18000 $216000 $750 $18000 $216000 $750 $180008 Salaries and Wages 383332 1331 31944 383332 1331 31944 356250 1237 296889 Utilitiesa Electric 57861 201 4822 57861 201 4822 57900 201 4825b Natural Gas 517 2 43 517 2 43 516 2 43c Water and Sewer 83337 289 6945 83337 289 6945 86400 300 7200d Trash Removal 24315 84 2026 24315 84 2026 24360 85 2030

10 General and Administrative 112039 389 9337 112039 389 9337 100800 350 840011 Advertising 38942 135 3245 38942 135 3245 39000 135 325012 Property Management Fee 86800 301 7233 86800 301 7233 86561 301 721313 Real Estate Taxes (3) 169361 588 14113 169361 588 14113 169361 588 1411314 Property Insurance 56191 195 4683 56191 195 4683 72000 250 600015 Capital Reserves 72000 250 6000 72000 250 6000 72000 250 6000

Total Operating Expenses $1300696 $4516 $108391 $1300696 $4516 $108391 $1281148 $4448 $106762$1354710

NET OPERATING INCOME $1819982 $6319 $151665 $1898278 $6591 $158190 $1956745 $6794 $163062The MHA Proforma includes a 3 increase in the current market rents(1) The T1 Underwriting uses T3 Annualized Delinquency and Other Income levels(2) T3 and T1 Underwritings use proforma Repairs and Maintenance levels(3) Actual 2015 Taxes are used above The taxes will readjust upon sale based upon the sales price (per SC state law)

JUNE 2016 T-3 INCOME T-12 EXPENSES

MHAPROFORMA




1 Scheduled Gross Income

2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income

7 Repairs and Maintenance

8 Salaries and Wages

Title Salary Subtotal Property Manager 1 $50000 $50000

Assistant Manager 2 $40000 $80000Head Maintenance 1 $50000 $50000Maintenance Assistant 2 $40000 $80000Part-time Labor 1 $25000 $25000Subtotal 7 $285000Total 7 $356250The total Salaries and Wages figure applies a 25 factor to the subtotal above to account for employee benefits

PROFORMA SALARIES AND WAGES

The Scheduled Gross Income in the Cushman amp Wakefield Proforma includes a3 increase in the current market rates The Gross Potential Income with thismarket rate increase is $258095 per month

The proforma assumes leasing concessions equivalent to approximately 100 ofthe Scheduled Gross Income

The proforma assumes a delinquency rate of 050 to account for alluncollected rent

The proforma assumes a 5 vacancy This level is consistent with the propertyshistorical performance

The proforma assumes there is one (1) non-revenue unit

The other income figure of $352512 includes pet fees laundry income utilityreimbursements application and late fees etc

The $750 per unit expense figure in the proforma covers all turnover charges aswell as supplies for lawn care general preventative maintenance landscapingetc

The Salaries and Wages figure is calculated as follows

9 Utilities

10 General and Administrative

11 Advertising

12 Property Management Fee

13 Real Estate Taxes

Actual 2015 Appraised Value $12989570Actual 2015 Assessed Value 6 $779374District 630 02145 $167176County Fees $2185Total Taxes $169361

14 Property Insurance

15 Capital Reserves

a) Electric The proforma sets the monthly electrical expense at $4825 Tenantsare responsible for their own electricity therefore the electrical expense willcover common areas and the leasing office b) Natural Gas The proforma sets the natural gas expense at $43

c) Water and Sewer The proforma sets the monthly water and sewer expense at$7200 or $25 per unit per month d) Trash Removal The monthly expense of $2030 covers the monthly rubbishremoval

The Property Management Fee is a percentage of the Total EGI Thepercentage range is between 3 and 5 for most properties depending on itsage condition and location The proforma for Cape Landing assumes a 300Management Fee

Cape Landing is located in Horry County Actual 2015 Taxes are used in theunderwritings and are shown below Per SC state law the taxes may reassessupon sale based on the ultimate sales price A 25 ATI exemption can beutilized to lower the reassessed value to 75 of the purchase price Additionaldetails for the ATI exemption are available upon request

Proforma insurance amount of $250 per unit covers casualty and propertyinsurance

The $250 per unit is based on the market average given the condition of theproperty This figure represents the lowest capital reserve amount that a lenderis willing to accept in the current marketplace

The General and Administrative expense is based upon $350 per unit This figurecovers all office expenses including leasing charges (background checks etc)as well as any miscellaneous charges

The proforma Advertising expense of $3250 per month includes all materialsnecessary for marketing the property

CONFIDENTIALITY STATEMENT

This Offering Memorandum (OM) was prepared by Cushman amp Wakefield

(Broker) and has been reviewed by the Owner The OM is confidential

furnished solely for the purpose of considering the acquisition of the Property

described herein and is not to be used for any other purpose or made

available to any other person without the express written consent of Broker

An opportunity to inspect the Property will be made available to qualified

prospective purchasers

The information contained herein has been obtained from sources deemed

reliable and we have no reason to doubt its accuracy However no warranty or

representation expressed or implied is made by the Owner or Broker or any

related entity as to the accuracy or completeness of the information contained

herein including but not limited to financial information and projections and

any engineering and environmental information Prospective purchasers should

make their own investigations projections and conclusions It is expected

that prospective purchasers will conduct their own independent due diligence

concerning the Property including such engineering inspections as they

deem necessary to determine the condition of the Property and the existence

or absence of any potentially hazardous materials used in the construction

or maintenance of the building(s) or located at the land site including but

not limited to lead-based products (for compliance with ldquoTarget Housingrdquo

regulation for multifamily housing constructed prior to 1978) asbestos etc

The Owner and Broker expressly reserve the right at their sole discretion to

reject any or all expressions of interest or offers to purchase the Property and

or terminate discussions with any party at any time with or without notice The

Owner shall have no legal commitment or obligation to any purchaser unless

a written agreement for the purchase of the Property has been delivered

approved and fully executed by the Owner and any conditions to the Ownerrsquos

obligations thereunder have been satisfied or waived Broker is not authorized

to make any representations or agreements on behalf of the Owner Broker

represents the Owner in this transaction and makes no representations

expressed or implied as to the foregoing matters The depiction of any

persons entities signs logos or properties (other than Brokerrsquos client and

the Property) is incidental only and not intended to connote any affiliation

connection association sponsorship or approval by or between that which is

incidentally depicted and Broker or its client

This OM is the property of Cushman amp Wakefield and may be used only by

parties approved in writing by Broker The information is privately offered and

by accepting this OM the party in possession hereon agrees (i) to return it to

Cushman amp Wakefield immediately upon request of Broker or the Owner and

(ii) that this OM and its contents are of a confidential nature and will be held

and treated in the strictest confidence No portion of this OM may be copied

or otherwise reproduced andor disclosed to anyone without the written

authorization of Broker and Owner The terms and conditions set forth above

apply to this OM in its entirety

Cushman amp Wakefield is excited to present the exclusive listing of the 288-unit 1998-built Cape Landing apartments nestled next to the rapidly growing Market Common District in Myrtle Beach SC Located in a strong market with solid rent fundamentals Cape Landing offers a superior value-add opportunity in addition to the ability to build a 126-unit Phase II The property is also located in a well-established neighborhood offering an outstanding school system and high-end retail

INVESTMENT OFFERING

INVESTMENT SUMMARY

Address 3851 Cape Landing Drive

Myrtle Beach SC 29588

County Horry County

Site Size 298 Acres

Year Built 1998

Residential Units 288 Units

Net Residential Area 268632 SF

Avg Unit Size 933 SF

Avg Market Rent $870

Avg Market RentSF $096

Occupancy 97

As of 07132016 Includes 886 acres entitled for additional 126 units


DATA ACCESS




OFFERING PROCESS


WATSON BRYANT









AtlanticOcean

Gree

n Se

a Rd

S

Elm St

Pee D

ee R

d S

Choppee Rd

Pee Dee Hwy

Brunson Spring Rd

Cultra Rd

Broad St

N Kings Hwy

S Kings Hwy

Ocea

n Hwy

N Fr

aser

St

Veterans Hwy

Carolina Bays Pkwy




TangerOutlet

Coastal GrandMall

CoastalCentre

Myrtle BeachMall

TangerOutlet

GardenCity

Loris

Socastee

Conway

SurfsideBeach

Murrel lsInlet

Forestbrook

RedHil l

Briarcl i f feAcres

AtlanticBeach

Litt le River

North MyrtleBeach

Bucksport

Aynor

MyrtleBeach

378

701

501

17

17

701

701

50122

908

51

9

9

905

905

90

544

707

90

31

31

904

261

410

319

22

BUS17

9

BRANDON WHITESELL


CO-LEAD

WATSON BRYANT



MARC ROBINSON


CO-LEAD

ALEX BROWN


JORDAN MCCARLEY


PAUL MARLEY


JUSTIN VAN LEUVAN


TELLY FATHALY


TABLE OF CONTENTS



AREA OVERVIEW PG 26



















THE MARKET COMMON
















TOTAL 997 Units NA


17

CAPE LANDING

THE COMMON MARKET

12

8

76

5

3

4














00

20

40

60

80

100

120

140

160

$700

$750

$800

$850

$900

$950

$1000

Vacan

cy

Avg

Ask

ing

Re

nt



RENT GROWTH

0

200

400

600

800

1000

1200

1400

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Un

its

De

live

red





vs









LAKEWOOD ELEMENTARY

SOCASTEE HIGH

FORESTBROOK MIDDLE



THE MARKET COMMON

GRAND PARK

GRAND PARK COMPLEX












$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

mp

loym

en

t

Ave

rag

e H

ou

seh

old

Inco

me












of 19






00

05

10

15

20

25

30

35

40

YO

Y P

op

ulat

ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

攀攀䈀

氀瘀搀


倀愀氀洀

攀琀琀

漀倀

漀椀渀

琀攀䈀

氀瘀搀



SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

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㜀㘀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves























































DATA ACCESS




OFFERING PROCESS


WATSON BRYANT









AtlanticOcean

Gree

n Se

a Rd

S

Elm St

Pee D

ee R

d S

Choppee Rd

Pee Dee Hwy

Brunson Spring Rd

Cultra Rd

Broad St

N Kings Hwy

S Kings Hwy

Ocea

n Hwy

N Fr

aser

St

Veterans Hwy

Carolina Bays Pkwy




TangerOutlet

Coastal GrandMall

CoastalCentre

Myrtle BeachMall

TangerOutlet

GardenCity

Loris

Socastee

Conway

SurfsideBeach

Murrel lsInlet

Forestbrook

RedHil l

Briarcl i f feAcres

AtlanticBeach

Litt le River

North MyrtleBeach

Bucksport

Aynor

MyrtleBeach

378

701

501

17

17

701

701

50122

908

51

9

9

905

905

90

544

707

90

31

31

904

261

410

319

22

BUS17

9

BRANDON WHITESELL


CO-LEAD

WATSON BRYANT



MARC ROBINSON


CO-LEAD

ALEX BROWN


JORDAN MCCARLEY


PAUL MARLEY


JUSTIN VAN LEUVAN


TELLY FATHALY


TABLE OF CONTENTS



AREA OVERVIEW PG 26



















THE MARKET COMMON
















TOTAL 997 Units NA


17

CAPE LANDING

THE COMMON MARKET

12

8

76

5

3

4














00

20

40

60

80

100

120

140

160

$700

$750

$800

$850

$900

$950

$1000

Vacan

cy

Avg

Ask

ing

Re

nt



RENT GROWTH

0

200

400

600

800

1000

1200

1400

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Un

its

De

live

red





vs









LAKEWOOD ELEMENTARY

SOCASTEE HIGH

FORESTBROOK MIDDLE



THE MARKET COMMON

GRAND PARK

GRAND PARK COMPLEX












$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

mp

loym

en

t

Ave

rag

e H

ou

seh

old

Inco

me












of 19






00

05

10

15

20

25

30

35

40

YO

Y P

op

ulat

ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

攀攀䈀

氀瘀搀


倀愀氀洀

攀琀琀

漀倀

漀椀渀

琀攀䈀

氀瘀搀



SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves






















































TABLE OF CONTENTS



AREA OVERVIEW PG 26



















THE MARKET COMMON
















TOTAL 997 Units NA


17

CAPE LANDING

THE COMMON MARKET

12

8

76

5

3

4














00

20

40

60

80

100

120

140

160

$700

$750

$800

$850

$900

$950

$1000

Vacan

cy

Avg

Ask

ing

Re

nt



RENT GROWTH

0

200

400

600

800

1000

1200

1400

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Un

its

De

live

red





vs









LAKEWOOD ELEMENTARY

SOCASTEE HIGH

FORESTBROOK MIDDLE



THE MARKET COMMON

GRAND PARK

GRAND PARK COMPLEX












$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

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en

t

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of 19






00

05

10

15

20

25

30

35

40

YO

Y P

op

ulat

ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

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攀攀䈀

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漀倀

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SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

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AT

H |

13

56

SF







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䈀

䄀䌀

䔀

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䜀

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䠀

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䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves






































































THE MARKET COMMON
















TOTAL 997 Units NA


17

CAPE LANDING

THE COMMON MARKET

12

8

76

5

3

4














00

20

40

60

80

100

120

140

160

$700

$750

$800

$850

$900

$950

$1000

Vacan

cy

Avg

Ask

ing

Re

nt



RENT GROWTH

0

200

400

600

800

1000

1200

1400

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Un

its

De

live

red





vs









LAKEWOOD ELEMENTARY

SOCASTEE HIGH

FORESTBROOK MIDDLE



THE MARKET COMMON

GRAND PARK

GRAND PARK COMPLEX












$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

mp

loym

en

t

Ave

rag

e H

ou

seh

old

Inco

me












of 19






00

05

10

15

20

25

30

35

40

YO

Y P

op

ulat

ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

攀攀䈀

氀瘀搀


倀愀氀洀

攀琀琀

漀倀

漀椀渀

琀攀䈀

氀瘀搀



SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

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㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

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㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves


























































THE MARKET COMMON
















TOTAL 997 Units NA


17

CAPE LANDING

THE COMMON MARKET

12

8

76

5

3

4














00

20

40

60

80

100

120

140

160

$700

$750

$800

$850

$900

$950

$1000

Vacan

cy

Avg

Ask

ing

Re

nt



RENT GROWTH

0

200

400

600

800

1000

1200

1400

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Un

its

De

live

red





vs









LAKEWOOD ELEMENTARY

SOCASTEE HIGH

FORESTBROOK MIDDLE



THE MARKET COMMON

GRAND PARK

GRAND PARK COMPLEX












$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

mp

loym

en

t

Ave

rag

e H

ou

seh

old

Inco

me












of 19






00

05

10

15

20

25

30

35

40

YO

Y P

op

ulat

ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

攀攀䈀

氀瘀搀


倀愀氀洀

攀琀琀

漀倀

漀椀渀

琀攀䈀

氀瘀搀



SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































THE MARKET COMMON
















TOTAL 997 Units NA


17

CAPE LANDING

THE COMMON MARKET

12

8

76

5

3

4














00

20

40

60

80

100

120

140

160

$700

$750

$800

$850

$900

$950

$1000

Vacan

cy

Avg

Ask

ing

Re

nt



RENT GROWTH

0

200

400

600

800

1000

1200

1400

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Un

its

De

live

red





vs









LAKEWOOD ELEMENTARY

SOCASTEE HIGH

FORESTBROOK MIDDLE



THE MARKET COMMON

GRAND PARK

GRAND PARK COMPLEX












$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

mp

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NORTHWEST VIEW



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SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

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Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

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OM

1

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1

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TH

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SITE MAP





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唀匀

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SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves



































































00

20

40

60

80

100

120

140

160

$700

$750

$800

$850

$900

$950

$1000

Vacan

cy

Avg

Ask

ing

Re

nt



RENT GROWTH

0

200

400

600

800

1000

1200

1400

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Un

its

De

live

red





vs









LAKEWOOD ELEMENTARY

SOCASTEE HIGH

FORESTBROOK MIDDLE



THE MARKET COMMON

GRAND PARK

GRAND PARK COMPLEX












$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

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of 19






00

05

10

15

20

25

30

35

40

YO

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ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

攀攀䈀

氀瘀搀


倀愀氀洀

攀琀琀

漀倀

漀椀渀

琀攀䈀

氀瘀搀



SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







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SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

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䔀

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䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves




























































00

20

40

60

80

100

120

140

160

$700

$750

$800

$850

$900

$950

$1000

Vacan

cy

Avg

Ask

ing

Re

nt



RENT GROWTH

0

200

400

600

800

1000

1200

1400

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Un

its

De

live

red





vs









LAKEWOOD ELEMENTARY

SOCASTEE HIGH

FORESTBROOK MIDDLE



THE MARKET COMMON

GRAND PARK

GRAND PARK COMPLEX












$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

mp

loym

en

t

Ave

rag

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ou

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me












of 19






00

05

10

15

20

25

30

35

40

YO

Y P

op

ulat

ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

攀攀䈀

氀瘀搀


倀愀氀洀

攀琀琀

漀倀

漀椀渀

琀攀䈀

氀瘀搀



SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

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䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

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㜀㘀㠀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves






























































LAKEWOOD ELEMENTARY

SOCASTEE HIGH

FORESTBROOK MIDDLE



THE MARKET COMMON

GRAND PARK

GRAND PARK COMPLEX












$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

mp

loym

en

t

Ave

rag

e H

ou

seh

old

Inco

me












of 19






00

05

10

15

20

25

30

35

40

YO

Y P

op

ulat

ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

攀攀䈀

氀瘀搀


倀愀氀洀

攀琀琀

漀倀

漀椀渀

琀攀䈀

氀瘀搀



SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























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SITE MAP





AREA OVERVIEW







唀匀

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SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves

































































$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

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of 19






00

05

10

15

20

25

30

35

40

YO

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op

ulat

ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

攀攀䈀

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倀愀氀洀

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漀倀

漀椀渀

琀攀䈀

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SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







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䔀

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䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

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䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves






























































$90 $64





bull New Cabinetry

bull New Carpet





bull Two-Tone Paint






$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

mp

loym

en

t

Ave

rag

e H

ou

seh

old

Inco

me












of 19






00

05

10

15

20

25

30

35

40

YO

Y P

op

ulat

ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

攀攀䈀

氀瘀搀


倀愀氀洀

攀琀琀

漀倀

漀椀渀

琀攀䈀

氀瘀搀



SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































$874

$998 $1003

$1047

$1076

$1209

$700

$800

$900

$1000

$1100

$1200

$1300

Cape Landing(1998)



(2009)


(2015)


Common (2009)






126 UNITS)

PHASE I

PHASE II







130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

mp

loym

en

t

Ave

rag

e H

ou

seh

old

Inco

me












of 19






00

05

10

15

20

25

30

35

40

YO

Y P

op

ulat

ion

Gro

wth

20

14-1




to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

攀攀䈀

氀瘀搀


倀愀氀洀

攀琀琀

漀倀

漀椀渀

琀攀䈀

氀瘀搀



SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

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㜀㠀㤀

㜀㤀

㜀㤀㔀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

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㜀㘀㔀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves

























































130000

140000

150000

160000

170000

180000

190000

200000

$65000

$70000

$75000

$80000

$85000

$90000

$95000

$100000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(P)

2018(P)

2019(P)

2020(P)

To

tal E

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30

35

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to be added by 2020





NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

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SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

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Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


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INTERIORS





























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AREA OVERVIEW







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SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































NORTHWEST VIEW



刀䔀吀䄀䤀䰀










㐀

㔀㘀

㜀㠀

　

㤀

匀漀挀愀猀琀

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倀愀氀洀

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漀倀

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SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

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OM

1

BA

TH

| 6

95

SF

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S |

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1

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44

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ED

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SITE MAP





AREA OVERVIEW







唀匀

䠀圀

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䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































SOUTHEAST VIEW



刀䔀吀䄀䤀䰀









㐀

㔀㘀㜀

㠀

㤀












Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

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DR

OO

M 2 B

AT

H |

13

56

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䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

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䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves






























































Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







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SITE MAP





AREA OVERVIEW







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䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves



























































Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

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AP

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1 B

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OM

1

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| 6

95

SF

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OM

1

BA

TH

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44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

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OM

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AT

H |

88

3 S

F



TH

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AL

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OO

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AT

H |

110

8 S

F T

HE

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IFT

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OD

| 3

BE

DR

OO

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AT

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13

56

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SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

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䔀

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䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves

























































Year Completed 1998


Stories 3 Stories



SITE


County Horry County







a lake


UTILITIES




Resident







IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

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DR

OO

M 2 B

AT

H |

13

56

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䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































IMPROVEMENTS






is stucco






are wood



SYSTEMS

HVAC

ElectricGas

Plumbing

Life Safety


All electric






units or breezeways



COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







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䔀

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䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































COMMUNITY AMENITIES





Grills


bull Relaxing Sauna



Flat Screen TV



Maintenance


bull Coffee Bar

bull Playground









RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

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㜀㠀㤀

㜀㤀

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㜀㤀㜀

㜀㤀㤀㜀㤀㠀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

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㜀㘀㠀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves






























































RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







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㜀㤀

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㜀㤀㜀

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㜀㠀

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䄀䌀

䔀

䘀

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䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

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㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves




























































RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







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㜀㘀㠀

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䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

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㜀㘀

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㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves


























































RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

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㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































RESIDENCE FEATURES




bull Ceiling Fans


bull 2rdquo Blinds

bull Crown Molding


bull Premium Carpet


bull Pantry Storage

bull Dishwasher



Sink

bull Disposal


Select Units



INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































INTERIORS





























TH

E C

AP

E |

1 B

ED

RO

OM

1

BA

TH

| 6

95

SF

TH

E H

AT

TE

RA

S |

1 B

ED

RO

OM

1

BA

TH

| 7

44

SF

TH

E S

EA

GR

AS

S |

2 B

ED

RO

OM

2 B

AT

H |

88

3 S

F



TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

WO

OD

| 3

BE

DR

OO

M 2 B

AT

H |

13

56

SF







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

㠀㔀

㜀㜀

㜀㘀

㜀㘀㔀

㜀㘀㠀

㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves

































































TH

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2 B

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H |

88

3 S

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AL

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H |

110

8 S

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OD

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SITE MAP





AREA OVERVIEW







唀匀

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SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































TH

E P

AL

ME

TTO

| 2

BE

DR

OO

M 2 B

AT

H |

110

8 S

F T

HE

DR

IFT

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OD

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DR

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AT

H |

13

56

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SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

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䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves




























































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䌀倀伀伀䰀








SITE MAP





AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves


























































AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































AREA OVERVIEW







唀匀

䠀圀

夀㜀

㜀㠀㔀

㜀㠀㤀

㜀㤀

㜀㤀㔀

㜀㤀㜀

㜀㤀㤀㜀㤀㠀

㜀㠀

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䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves




























































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㜀㘀㤀

䈀

䄀䌀

䔀

䘀

䜀

䤀

䠀

䐀



䌀倀伀伀䰀








SITE MAP




AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves

























































AccolAdes


478441

















































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves

















































































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves

































































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































EMPLOYER JOBS


Walmart Stores 2623






EMPLOYER JOBS








EMPLOYER JOBS



Bi-Lo Stores 468









APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































APARTMENT MARKET





PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves


























































PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103

8

1

9

2

345

6

7

CAPE LANDING

PROPERTY OFUNITS


SQ FTEFFRENT

EFF RENTPER SQ FT

Cape Landing 288 1998 97 933 $874 $094



AVERAGES 292 2004 97 970 $998 $103



PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT









Alta Surf 1 BR 1 BA 761 $885 $116

Alta Surf 1 BR 1 BA 833 $910 $109




Flintlake 1 BR 1 BA 810 $859 $106





AVERAGES 719 $831 $117

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT





AVERAGES 719 $831 $117

(HC) Handicap Unit


ONE BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








Alta Surf 2 BR 2 BA 1064 $1060 $100


Alta Surf 2 BR 2 BA 1140 $1115 $098





Flintlake 2 BR 2 BA 1145 $1055 $092



Flintlake 2 BR 2 BA 1086 $929 $086




AVERAGES 1049 $1058 $100

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT




AVERAGES 1049 $1058 $100


TWO BEDROOM




PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT








AVERAGES 1316 $1162 $089

PROPERTY UNITTYPE

APPROXSQ FT

EFFRENT

RENT PERSQ FT


AVERAGES 1316 $1162 $089

(TH) Townhome


THREE BEDROOM





(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves

























































(HC) Handicap Unit






UTILITIES


COMMENTS












UTILITIES

COMMENTS


River Landing


1




UTILITIES

UTILITIES

COMMENTS

COMMENTS





(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves


























































(TH) Townhome







UTILITIES

COMMENTS


Flintlake


2









UTILITIES

COMMENTS




3



UTILITIESUTILITIES

COMMENTSCOMMENTS











UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
































































UTILITIES

COMMENTS


Palmetto Pointe


4









UTILITIES

COMMENTS




5




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
































































UTILITIES

COMMENTS


Claypond Commons


6









UTILITIES

COMMENTS




7




UTILITIES

UTILITIES

COMMENTS

COMMENTS











UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
































































UTILITIES

COMMENTS


Alta Surf


8









UTILITIES

COMMENTS




9



UTILITIESUTILITIES

COMMENTS COMMENTS





FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves


























































FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves
























































FINANCIAL ANALYSIS










UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves































































UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves





























































UTILITIESPROVIDER

COMMENTS










1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves



























































1 BR 1 BA (HC)5

1 BR 1 BA20

1 BR 1 BA21

2 BR 2 BA16

2 BR 2 BA21

3 BR 2 BA17












MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves

































































MHAPROFORMA





2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves

























































2 Concessions

3 Delinquencies

4 Vacancies

5 Non-Revenue Units

6 Other Income














9 Utilities


11 Advertising





15 Capital Reserves



































































































Documents

6 Complete OM - Cape Landing