M THE MIDTOWN PORTFOLIO A 376-UNIT PORTFOLIO LOCATED IN THE HISTORIC MUSEUM DISTRICT OF RICHMOND, VIRGINIA TABLE OF CONTENTS Executive Summary 4 Location Overview 20 The Gallery Property Overview 34 The Collection Property Overview 42 Apartment Market Overview 72 Rent Comparable Analysis 76 Financial Analysis 84 2 CONTACTS OFFER SOLICITATION PROCESS WINK EWING OFFER SUBMISSION Senior Managing Director Offers should be presented in the form of a non-binding Letter of Intent, spelling out the 703.575.2157 significant terms and conditions of Purchasers’ offers including, but not limited to (1)
[email protected] asset pricing, (2) due diligence and closing time frame, (3) earnest money deposit, (4) a description of the debt/equity structure and (5) qualifications to close. Offers should be MIKE MARSHALL delivered to the attention of Wink Ewing at
[email protected]. Executive Managing Director 703.575.2152 PROPERTY VISITATION
[email protected] Prospective purchasers will have the opportunity to visit the Properties via prescheduled property tours. These tours will include access to a representative sampling of units and DREW WHITE access to maintenance and other similar facilities. No visitations will be permitted without Executive Managing Director advance notice and scheduling. 703.918.4661
[email protected] AVAILABLE TOUR DATES To schedule your tour of the Properties, please contact Ed Garnica at 703.918.4678 or ED GARNICA
[email protected]. Financial Analyst 703.918.4678
[email protected] 3 EXECUTIVE SUMMARY THE OFFERING INVESTMENT HIGHLIGHTS ARA Newmark Mid Atlantic is pleased to present for sale the Irreplaceable Portfolio – Ideally located within Richmond’s Gallery Midtown and Collection Midtown apartment properties historic Fan and Museum District, the portfolio is unique in (the “Midtown Portfolio”), a portfolio consisting of 376 units size and location.