Stratford Place
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Camden at Bloomingdale Stratford Place The Meadows at River Run Parkway Commons Aspen Place THE SUBURBAN CHICAGO METRO PORTFOLIO COMPRISED OF 1,876 APARTMENT HOMES Holliday Fenoglio Fowler, L.P. (“HFF”) a Illinois licensed real estate broker. EXECUTIVE SUMMARY The Suburban Chicago Holliday Fenoglio Fowler, L.P. (“HFF”) is pleased to present a rare opportunity to purchase Metro Portfolio an exceptional five-property multi-housing portfolio located in various suburban Chicago submarkets. The communities total 1,876 apartment homes with excellent apartment and OFFERS DATE / TOURS community amenities. All communities benefit from outstanding infill locations near large employers with excellent access from major roadways. All of the properties also give residents Offers: A notice will be sent within 2-3 weeks of the easy access to nearby I-88, I-355, I-55 and I-290 allowing quick commutes to downtown offers date, which is expected to be in early June. Chicago as well as other neighborhoods and suburbs throughout greater Chicago area. Financing: Four of the properties (Camden at Bloomingdale, Stratford Place, Aspen Place OFFER SUMMARY and Meadows at River Run) are available on an YEAR AVERAGE PROPERTY NAME ADDRESS BUILT HOMES HOME SIZE “Assumable Loan” basis. One property (Parkway Camden at Bloomingdale 348 Glenwood Drive, Bloomingdale, IL 1991 360 960 SF Commons) is available on an “All Cash” basis. Please Stratford Place 232 Butterfield Drive, Bloomingdale, IL 1990 342 929 SF contact Matthew Schoenfeldt (contact information on Parkway Commons 565 Gundersen Drive, Carol Stream, IL 1972 384 946 SF the back of this offering) for debt quotes/assistance. Aspen Place 826 Terrace Lake Drive, Aurora, IL 1987 416 1,061 SF Meadows at River Run 350 Whitewater Dr, Bolingbrook, IL 2001 374 945 SF Total/Average 1,876 970 Purchase: The properties are available for purchase as a portfolio or on a one-off basis. DEBT SUMMARY CAMDEN AT STRATFORD ASPEN MEADOWS AT Tours: Tours must be scheduled in advance by BLOOMINGDALE PLACE PLACE RIVER RUN contacting Marty O’Connell or Sean Fogarty (see Loan Servicer Fannie Mae Fannie Mae Freddie Mac Fannie Mae Loan Amount (Total) $49,300,000 $44,700,000 $36,300,000 $43,600,000 contact information on the back of this offering). The Loan Amount (Remaining) $48,783,245 $44,231,461 $36,300,000 $43,600,000 Owner and HFF respectively request that interested Interest Rate 3.57% 3.57% 4.21% 4.60% parties refrain from contacting on-site personnel or Maturity Date Jul-21 Jul-21 Feb-22 Jun-25 residents. Interest Only No No Yes Yes Interest Only Expiration N/A N/A Feb-17 Aug-18 62 EXECUTIVE summary The Suburban Chicago Metro Portfolio Camden at Bloomingdale Stratford Place Investment Highlights • IMMEDIATE FOOTPRINT – the portfolio offers an investor an exceptional and Meadows at River Run both have the opportunity for a full value-add opportunity to purchase a portfolio of high quality assets and obtain an program to be implemented across all of the units. Camden at Bloomingdale immediate footprint in the Chicago market or expand an investor’s and Stratford Place both have begun successful renovation programs giving current portfolio. new ownership the option to continue work on these. Parkway Commons completed extensive renovations in 2009. • ECONOMIES OF SCALE – with all properties within the same or adjacent submarkets from one another, an investor has the opportunity to efficiently • FORTUNE 500 COMPANIES – the Chicago MSA is home to 31 Fortune 500 own and manage several properties within a submarket. Companies as of 2014 rankings, all within a short drive from the portfolio properties. Some of those included in the list are: • CONTINUED VALUE-ADD OPPORTUNITY – four of the five properties • #27 – Archer Daniels MIdland • #78 – United Continental Holdings have the ability to continue or begin renovation programs. Aspen Place • #30 – Boeing • #87 – Sears Holdings Corporation • #37 – Walgreen Co. EXECUTIVE summary 73 The Suburban Chicago Metro Portfolio Parkway Commons • DUPAGE COUNTY – four of the five properties are located within the 34, US Interstate 55, US Interstate 88, US Interstate 355, State Highway 59 prestigious DuPage County. DuPage County has a AAA bond rating from and State Highway 53. Fitch Ratings, Moody’s and S&P rating services. Less than 1 percent of U.S. counties have received this elite status from all three agencies. • EXCELLENT NEARBY SHOPPING AND AMENITIES – with their western Chicago suburban location, each property offers outstanding access to • UNRIVALED HEALTHCARE OPTIONS – DuPage is served by two of nearby shopping including: Illinois’ most respected hospitals. Central DuPage Hospital (CDH) and • Oakbrook Center - over 160 specialty stores Edwards Hospital. CDH is recognized nationally as a leader in technology • Stratford Square Mall - over 1,000,000 square feet of shopping and patient safety, and fully accredited by national and state healthcare • Yorktown Center - enclosed mall, which comprises 120 acres organizations. CDH was named one of the 100 Top Hospitals in the United • Westfield Fox Valley Mall - with more than 150 specialty shops, kiosks State in 2011 by Thomson Reuters. and services • Promenade Bolingbrook - more than 100 specialty shops, kiosks, and • EASY ACCESS TO TRANSPORTATION – Each property has excellent restaurants access to major highways via 6 major freeways and highways: US Highway 84 EXECUTIVE summary The Suburban Chicago Metro Portfolio • SUPERB APARTMENT AND COMMUNITY AMENITIES – the properties include a vast array of apartment and community amenities including the following: • Swimming pools • Tennis/volleyball courts • Fitness centers • Attached/detached covered • Business centers parking • Landscaped courtyards • Playground areas • TOP PERFORMING MULTI-HOUSING SUBMARKETS – three of the Aspen Place Apartments properties are located within the DuPage County submarket (Camden at Bloomingdale, Stratford Place, Parkway Commons), one property is located in the Aurora/Naperville submarket (Aspen Place) and one property is located in the Will County submarket (Meadows at River Run) according to Appraisal Research Counselors (ARC) and currently are showing fantastic metrics including: • Strong Effective Rent Growth – Effective rents for 4Q’2014 for the DuPage, Aurora/Naperville and Will County submarkets grew 4.1%, 3.2% and 4.3% over the prior year respectively. • Low Vacancy – Vacancy for all three submarkets is at or below 5.30% for 4Q’14 according to ARC. • Limited Supply – Very limited supply has been added in the past 10 years within these submarkets making it a rare opportunity to own properties in these areas. In 10 out of the last 18 years, DuPage County has added ZERO apartment homes to its supply. Meadows at River Run EXECUTIVE summary 95 Aspen Place Clubhouse Meadows at River Run Clubhouse Parkway Commons Clubhouse Lake Villa Zion Fox Lake Johnsburg Round Lake Beach Waukegan 12 McHenry Grayslake Y 45 T N Y North U Chicago Woodstock UNT O 137 Y CO Island R C 31 E Libertyville EN K Lake Lake H A 59 L C Bluff M Wauconda 176 176 Crystal Vernon Hills 94 Lake Lake 14 83 21 Forest 41 Cary 22 Lake Lincolnshire 43 Zurich 62 45 Highland Buffalo Grove MC HENRY COUNTY Algonquin LAKE COUNTY Park KANE COUNTY Barrionton COOK COUNTY L Carpentersville 68 Wheeling Northbrook Y Y A T T 68 12 UN UN K CO CO METRA UNION PACIFIC NORTH E 90 West K Winnetka N METRA MILWAUKEE DISTRICT NORTH O 53 E KA Dundee CO 43 31 Hoffman 62 METRA NORTH CENTRAL SERVICE 72 94 Estates 294 METRA UNION PACIFIC NORTHWEST Arlington 90 M METRA MILWAUKEE DISTRICT WEST Heights 14 Evanston 58 Morton METRA UNION PACIFIC WESTElgin I 20 290 Grove Schaumburg Des Plaines 21 METRA BNSF RAILWAY Skokie C 90 METRA HERITAGE CORRIDOR 2012 Park Niles H METRA SOUTHWEST SERVICE 20 Elk Grove Ridge 14 Lincolnwood COOK CO UNT Y Village METRA ROCK ISLAND DISTRICT E C OUNT Y I DU PAG 90 METRA ELECTRIC DISTRICT Bartlett O’HARE Roselle INTERNATIONAL G 59 Camden at Bloomingdale19 AIRPORT 41 Bloomingdale Stratford Place 19 A Addison 294 90 355 50 N 94 St Charles 64 Glendale Carol Heights Stream 64 Parkway Commons Elmhurst Melrose Oak Park West 83 Park CHICAGO Y Chicago Geneva Y 290 T NT CBD 38 Oakbrook UN Lombard COU Westchester CO Wheaton Terrace 43 Cicero Batavia AGE 88 P ANE K 56 The Suburban Chicago U D 41 31 Oak Brook 294 Brookfield Warrenville D Metro Portfolio U 34 C O 171 88 P O AG 45 55 90 Lisle Downers K • Camden at Bloomingdale 88 E C O Grove C 348 Glenwood Drive, Bloomingdale, 94IL, 60108 U O La Grange NT Aurora U 53 N • StratfordMID PlaceWAY Y 59 T Naperville 355 Y 232 ButterfieldINTERNATIONAL Drive, Bloomingdale, IL, 60108 AIRPORT Montgomery Aspen Place • Parkway Commons Woodridge 50 34 Darien 565 Gunderson Drive, Carol Stream, IL, 60188 90 DU PAGE CO UN TY KANE COUNT Y • AspenBur Placebank ILL C OU NT Y TY W 12 KENDA LL C OUN Bolingbrook 55 826 Terrace Lake Drive, Aurora, IL, 60504 • Meadows at River Run Y 45 T Oak Lawn Y Meadows at River Run 350 Whitewater Drive, Bolingbrook, IL, 60440 N U NT O Oswego U 1 C 294 O C Lemont LL Palos 57 94 A 30 Romeoville Heights WILL END K COOK COUNTY Blue WILL COUNTY Island S Orland Park A Plainfield IAN Homer Oak Forest Harvey D ILLINOI Lockport 355 Glen IN 55 Tinley 80 Park Crest Hill COOK COUNTY WILL COUNTY Homewood Shorewood Joliet 80 Mokena New 57 Chicago Lenox Frankfort Heights 80 COOK COUNTY KENDA LL C OUN TY WILL COUNTY GRUNDY C OU NTY OFFERING SUMMARY Name: Camden at Bloomingdale Address: 348 Glenwood Drive Bloomingdale, IL Number of Buildings: 19 apartment buildings 1 community building 20 total buildings Number of Homes: 360 Homes Camden at Bloomingdale Rentable Square Feet: 345,660 SF Average Home Size: 960 SF CAMDEN AT BLOOMINGDALE UNIT MIX SUMMARY Occupancy: 96% CODE COUNT SQ.