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CBRE INDIANAPOLIS-CINCINNATI MULTI-HOUSING GROUP. Multi-Housing Industry Overview February 7, 2013 Presented by: Steve LaMotte & Dane Wilson. Louisville MSA Employment. Current Unemployment Rate. Total Number of Jobs. Kentucky 8.1%. U.S. 7.9%. Louisville 7.6%. - PowerPoint PPT Presentation
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Multi-Housing Industry Overview
February 7, 2013
Presented by:Steve LaMotte & Dane Wilson
CBREINDIANAPOLIS-CINCINNATI
MULTI-HOUSING GROUP
CBRE | Page 2
Source: CBRE, Bureau ofLabor Statistics
Total Number of JobsCurrent Unemployment
Rate
Kentucky 8.1%
U.S. 7.9%
Louisville 7.6%
500,000
520,000
540,000
560,000
580,000
600,000
620,000
640,000
*December 2012(P)
National Unemployment as of Jan. 2013State &Local Unemployment as of Dec. 2012
Louisville MSA Employment
1990 2000 2012 Est. 2017 Proj.350,000
400,000
450,000
500,000
550,000
404,573
462,241
523,026545,600
Num
ber
of H
ouse
hold
s
14.3%
13.2%
4.3%
Household Growth
CBRE | Page 3
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012$560
$580
$600
$620
$640
$660
$680
$700
82%84%86%88%90%92%94%96%98%100%
$568
$586 $591$601
$610$625
$639 $641 $656 $669
$699
90.5% 89.9% 90.2% 90.8%92.1%
93.2% 93.7%93.0%
93.8% 94.2% 94.7%
Average Rent
Louisville MSA Market-Wide Rents & Occupancy
Source: CBRE
Aver
age
Rent
Average Occupancy Rate
CBRE | Page 4
Q3 08
Q1 09
Q3 09
Q1 10
Q3 10
Q1 11
Q3 11
Q1 12
Q3 12
$820$835$850$865$880$895$910$925$940$955$970$985
90%
92%
94%
96%
98%
100%
$839 $844 $849$857
$870$883
$893$906
$958
93.9%
92.3%
94.2%94.7%
96.2%96.9%
96.3% 96.0% 96.1%
Average Quoted Rent
Aver
age
Rent
Average Occupancy Rate
Source: CBRE
Louisville MSA “Top 20” Communities
CBRE | Page 5
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Actual*
01,0002,0003,0004,0005,0006,0007,0008,0009,000
10,000
7,42
0
7,81
0
6,63
3
4,91
8
4,59
9
2,63
3
2,24
5
2,06
5
1,80
6
2,44
5
1,212 879
501
747 1,463
1,058 165 460 5911,166
Single Family Multifamily
Source: US Census Bureau
*12 monthsAnnualized
Louisville MSA Building Permits
CBRE | Page 6
Source: CBRE survey of developers /US Census Bureau
Louisville MSA New Construction
150350550750950
1,1501,3501,5501,7501,950
704
498
1,18
0
541 61
5
590
446
206
190
431
1,83
2
1,21
2
879
501
747
1,46
3
1,05
8
165
460 59
1
1,16
6
Units Delivered (CBRE)
CBRE | Page 7
CBRE | Page 8
Frontgate212 units
Claibourne Crossings244 units
The Reserves ofThomas Glen
192 units
RiverPark Place337 units
Watermark on Hurstbourne
337 units
Grinstead Place28 units
Cardinal Towne629 beds/281 units
River Breeze150 units
Louisville MSA New Construction
CBRE | Page 9
Louisville MSA Class “A” & “B” Cap Rates
2005
2006
2007
2008
2009
2010
2011
2012
5%6%7%8%9%
10%11%
7.0% 6.9% 6.5%
7.7% 7.6%8.3%
7.0% 6.9%
Actual Cap Rate
CBRE | Page 10
Louisville MSA Sales Volume
$0
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
02468101214161820
$58,100,000 $83,795,011
$173,735,000
$37,183,750
$90,614,000 $66,110,000
$211,558,062 $208,225,000
Total Volume Number of Transactions
No. o
f Tra
nsac
tions
CBRE | Page 11
Camden Portfolio1,194 units
The Summit Apartments168 units
Renaissance St. Andrews216 units
Valley Farms160 units
Clearwater Farms472 units
Cedar Park236 units
Park Laureate272 units
Vieux Carre326 units
Louisville MSA Representative Transactions
CBRE | Page 12
On The Market
Noblesville, IN | 280 UnitsAutumn Breeze
Website: www.cbremarketplace.com/autumnbreeze
#4 Most Visited CBRE Team Website
www.cbre.com/mhgic
CBREINDIANAPOLIS-CINCINNATI
MULTI-HOUSING GROUPSteve LaMotte,
Jr.Senior Vice President
317.269.1018steve.lamotte@c
bre.com
Dave Lockard Senior Vice President
513.369.1347dave.lockard@cbr
e.com
Dane WilsonSenior
Associate317.269.1057dane.wilson@c
bre.com
David Englert Senior Financial
Analyst317.269.1034
Emily Cantley Sales Assistant513.369.1328
Carrie Ballard Client Services
Specialist317.269.1064
Amanda HudnallAdministrative
Assistant317.269.1141
