Kiwi Goji Apartments

• Investment Opportunity
• High-traffic location at Poplar and Highland Street intersection in coveted East Memphis submarket
• Full-scale Class A remodel with first rate finishes
• Convenient to employment anchors of Poplar/I-240 Office Hub, the Medical District, Downtown Memphis, and the University of Memphis area
• One block apart flanking grocery-anchored Poplar Plaza retail mecca
• Hip lifestyle location walkable to nearby restaurants, bars, breweries, and shops

Property Description

INVESTMENT HIGHLIGHTS $14,200,000 or $173,000/Unit Cap Rate6.80%
Interest Rate 5.73% Fannie 10yr 80% LTV Half-term IO *As of 7.13.23, see Document Center

LOW RISK PROFILE·       Already completed full-scale Class A remodel ·       90% Stabilization as of July 2023; 96% Preleased·       Suitable for Agency Financing at 100bps below Going-In Cap OPERATIONAL UPSIDE·       Under institutional property management (excessive 51% Expense Ratio)·       Smallest asset in Owner's multi-state portfolio·       Opportunity to lower operating costs with nimble mid-sized property manager focused on more well-tuned operations, leasing and marketing strategies PERENNIAL DEMAND ·       High-traffic location in epicenter of jobs flanking grocery-anchored retail mecca·       Near lifestyle districts offering dining, entertainment, recreation  PROPERTY TOURS AVAILABLE BY APPOINTMENT ONLY