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Document.Pdf CONFIDENTIAL OFFERING MEMORANDUM This Investment Memorandum (“Memorandum”) is furnished to prospective purchasers solely to facilitate the purchaser’s consideration of the property known as Smokey Trail Apartments (510 Smokey Trail Drive) located in Limon, CO (“Property”). The Memorandum contains proprietary information and was prepared by Olive Real Estate Group, Inc. using information compiled from sources we consider to be reliable. However, the Seller makes no representations or warranties herein and the building is being sold in an “as is, where-is” condition. By receipt of this Memorandum, you agree that: (a) the Memorandum and its contents are of a confidential nature and that you will hold and treat it in strictest confidence; (b) you will not reproduce, transmit or disseminate the information contained in the Memorandum through any means, or disclose this Memorandum or any of its contents to any other entity without the prior written authorization of Olive Real Estate Group, Inc. nor will you use this Memorandum or any of its contents in any fashion or manner detrimental to the interests of Olive Real Estate Group, Inc. or seller; and (c) upon request you will return the Memorandum without retaining any copy or extracting any portion thereof. This Memorandum does not purport to be all-inclusive or to contain all the information which prospective purchasers may desire. Certain documents, including leases and other materials, are described herein in summary form. The summaries are not complete descriptions of the full agreements. Interested parties are expected to review all such documents independently. Financial projections are provided for reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond the control of Olive Real Estate Group, Inc. and are, therefore, subject to material variation. Additional information and an opportunity to inspect the Property will be made available to qualified prospective purchasers upon request. Each purchase offer is to be based strictly and entirely upon the purchaser’s independent investigation, analysis appraisal and evaluation of facts and circumstances deemed relevant by the purchaser. Neither Olive Real Estate Group, Inc. nor any of its respective directors, officers or affiliates have made any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of this Memorandum or its contents. This offering is submitted and received with the understanding that all offers for the acquisition of the herein described property will be conducted through Olive Real Estate Group, Inc. The sellers and Olive Real Estate Group, Inc. 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 entity at any time with or without notice. If you have no interest in the Property at this time, please return this Offering Memorandum to: Olive Real Estate Group, Inc. 102 N Cascade Ave, Suite 250, Colorado Springs, CO 80903 HAZARDOUS MATERIALS DISCLOSURE AMERICANS WITH DISABILITIES ACT Various construction materials may contain items that have been or The United States Congress has enacted the Americans with Disa- may in the future be determined to be hazardous (toxic) or undesirable bilities Act. Among other things, it is intended to make many busi- Property includes eight and may need to be specifically treated, handled or removed. Real ness establishments equally accessible to persons with a variety of estate agents have no expertise in the detection or correction of haz- disabilities; modifications to real property may be required. Other townhome style ardous or undesirable items. Expert inspections are necessary. Current state and local laws also may mandate changes. The real estate 3 bd/1.5 ba units. or future laws may require cleanup of such materials. It is the respon- brokers in this transaction are not qualified to advise you as to sibility of the buyer to retain qualified experts to detect and correct what, if any, changes may be required now, or in the future. Bid- such matters and to consult with legal counsel of their choice to deter- ders should consult attorneys and qualified design professionals of mine if such materials are present and if so, to determine what, if any- their choice for information regarding these matters. Real estate thing, the buyer needs to do because of the presence of such materials. brokers cannot determine which attorneys or design professionals have the appropriate expertise in this area. Rush Creek Wind Project Table of Contents Minneapolis, MN – (March 8, 2017) – Mortenson, a leading renewable energy SECTION contractor, has been selected to build what PROPERTY OVERVIEW ................................................................................ 1 will be the largest single- phase wind farm ever Property Description built in North America. Quick Facts The 600-megawatt Rush Amenities Creek Wind Project, Area Overview owned and operated by Hub City Xcel Energy, will be Lincoln County Economic Development home to 300 turbines and an 83- m i l e PRICING & FINANCIAL ANALYSIS ............................................................. 2 transmission near Limon, Property Configuration Colo. Income & Expenses “We are pleased to be Rent & Sale Comparables selected to construct this significant project for Xcel Energy and the state of Colorado. This 5-Year Projections project is another great example of Xcel’s commitment to clean renewable energy.” said Tim Maag, vice president and general manager at Mortenson’s Wind Energy Group. FLOOR PLANS ............................................................................................. 3 Mortenson’s Wind Energy, High Voltage Transmission and Civil groups will deliver full Interior Photos engineering, procurement and construction for Rush Creek. Colorado based turbine One Bedroom Layout manufacturer, Vestas, will provide the 300-V110 2.0MW wind turbines. The engineering Two Bedroom Layouts design will complete April 2017, with construction expected to begin May 2017 and an in- Three Bedroom Layouts service date of October 2018. DEMOGRAPHIC ANALYSIS ........................................................................ 4 The 600-MW Rush Creek Wind Project will be the single largest wind contract executed to date for Mortenson, as well as the largest for the state of Colorado. AERIALS ...................................................................................................... 5 “Mortenson has a long and distinguished history with the construction of major projects in Colorado, from the Stapleton Redevelopment to Denver International Airport hotel and COLORADO LIVING ................................................................................... 6 transit center, to the Alamosa Solar Project. In addition, it has extensive experience in the development of wind projects throughout the U.S.,” said Gerald Kelly, Xcel Energy Project CONFIDENTIAL MEMORANDUM AND DISCLOSURES .............................. 7 manager. “Mortenson also shares Xcel Energy’s commitment to providing a safe and healthy work environment. We look forward to working with Mortenson on our Rush Creek Wind Farm effort.” The wind farm is estimated to contribute 350 jobs to the state during the peak of construction, and when complete will increase Colorado’s wind energy production by more than 20 percent and potentially generate $180 million in landowner lease payments and property tax revenue. Aerial PROPERTY DESCRIPTION Smokey Trail Apartments provides the finest apartment living in Limon, a market with far more apartment demand than supply. The booming renewable energy sector continues to spur high income job growth, fueling further demand for quality housing. Recent exterior upgrades at Smokey Trail include eight new roofs with forty-year shingles, new four-tone exterior paint on all eight buildings and approximately 250 new windows. Unit interiors have seen significant up- grades to further enhance comfortable living in a peaceful apartment community. All units have full kitchens, full-sized washer/dryer hookups, bay windows, deck/patios and much more. Electric and gas are separately metered, allowing units to have their own furnaces and hot water heaters. Low maintenance costs resulting from the substantial interior and exteri- or upgrades are further enhanced by the Town of Limon clearing/maintaining Smokey Trail Drive, the street/cul-de-sac that runs through the complex. PROPERTY QUICK FACTS LOCATION: 510 Smokey Trail Drive, Limon, CO 80828 NUMBER OF UNITS: 38 UNIT SIZE: 641-1,029 SF # of BUILDINGS: 8 STORIES: 2 Limon Heritage Museum BUILDING TYPE: Garden Style Apartments YEAR BUILT: 1992 BUILDING SQ FT: 29,442 SF RENTABLE SQ FT: 29,442 SF SITE SIZE: 2.908 Acres PARKING: 58 Free Surface Spaces Available 1st Inn Gold Limon PROPERTY AMENITIES • Pet Friendly • Deck/Patios • Forced air heating • Wall to Wall Carpet • Cable Ready • Close to shops, restaurants • Ceiling Fans • Washer/Dryer hookups in each unit • Dishwasher • Pet Play Area • Disposals • Storage Units • Stove, Refrigerator • Scenic Views • Newly/Renovated Interior • Bay Windows Property Overview The following information about the City of Limon can be found on the website: www.townoflimon.com AREA OVERVIEW People working together make Limon a special place to live and
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