Investment Highlights
- INHERENT RENT GROWTH: There is a $490+ rental delta on top of market rents between Bellemeade Farms & the comparable set . New leases are 7%+ high than in-place rents & renewals range from 7% to 10%.
- PROVEN VALUE-ADD UPSIDE: The Property presents investors with proven value-add upside. The opportunity remains to 263 partially renovated units to the highest spec level, $200+ premiums are in-place.
- AFFLUENT SUBURBAN ENCLAVE IN NORTHERN VA: Household formation increased 22% over the past 10 years, & median income rests atop the list of the wealthiest counties in the country $165k per annum.
- ACCESS TO MAJOR EMPLOYMENT DRIVERS: Loudoun County is a core component of "Data Center Alley" where there are nearly 300 data center buildings and over 30 million square feet of operational space, accounting for 12,000+ jobs.
- UPDATED AND WELL-MAINTAINED ASSET: Bellemeade Farms has been exceptionally well cared for with over $2.75 million invested by current ownership in capital expenditures, basebuilding, and deferred maintenance efforts.
- DESIRABLE NORTHERN VA INVESTMENT MARKET: Institutional multifamily capital is acutely focused on Northern Virginia within the Mid-Atlantic. Over the past two years, multifamily investment volume totaled $24 billion in Northern VA alone. New supply is limited to two projects and higher proffers will prevent new development for the foreseeable future.
Exclusively listed by
Broker of Record
Brian Hosey
Senior Vice President/Division Manager
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