INVESTMENT SUMMARY THE OPPORTUNITY PROPERTY INFORMATION HFF has been exclusively retained to offer qualified investors the opportunity to acquire the fee simple Address: 6804 Capital of TX Hwy N interest in the Pointe 360 Apartments (The “Property”) Austin, TX 78731 – a 17 acre, 97 unit garden community located at the preeminent residential address in Northwest Austin. Year Built (Renovated): 1995(2013) Built in 1995, the property is prominently located just north of the FM 2222 and Capital of Texas Highway Acreage: 16.97 acres (Loop 360) intersection in the heart of the Austin Hill country, home to the most desirable and exclusive RSF: 93,620 RSF residential communities with average housing values Buildings: 8 Buildings + Office exceeding $500,000. Residents at Pointe 360 enjoy a short commute to north Austin’s two largest Floors: 2 Floors employment hubs, The Domain and Arboretum, as well as being situated in one of Austin’s best school districts Garages: 97 Garages (AISD). The Property’s excellent location, proximity to top tech employers (Apple, Google, Amazon, IBM, Surface Parking Spaces: 70 Spaces Oracle and Indeed) and light value add profile provide 93% (3/12/2017) investors a unique opportunity to purchase a low- Occupancy: density, boutique apartment community in one of Austin’s top performing submarkets. INVESTMENT HIGHLIGHTS PROXIMITY TO EMPLOYERS AND ENTERTAINMENT DESTINATIONS Located in Silicon Hills, the Property is a short drive from Austin’s premier mixed-use destinations such as the Arboretum, the Domain, the Shops at Arbor Walk, Gateway Shopping Center and Davenport Village as well as a 15 minute drive to Downtown Austin. Pointe 360’s ideal location provides residents quick access to all of their daily necessities and amenities. ENVIABLE LOCATION Located on N Capital of Texas highway and proximate to major thoroughfares FM 2222, Highway 183 and Loop North (Mopac Expressway), residents at Pointe 360 enjoy the coveted Hill Country address with the convenience of being near major employers, retail centers, and recreational amenities. The Property sits across the street from Bull Creek District Park and greenbelt and is minutes from the Colorado River, The Arboretum as well as Indeed’s largest corporate office in Austin. SURROUNDING AFFLUENCE As one of the premier residential areas in the region, northwest Austin is highly regarded for its exemplary schools, affluent demographics and beautiful Hill Country terrain. Pointe 360 is surrounded by some of Austin’s wealthiest residential communities such as Northwest Hills, Austin Country Club, and West Lake Hills. Housing values within three miles of the Property range from $500,000 to well over a million with average household incomes north of $131,000. LIGHT VALUE-ADD PROFILE Built in 1995, Pointe 360 is a low-density boutique garden community with attached garages on every unit and direct access to one of the hill country’s best hiking trails. The Property was renovated in 2013 with new appliances, carpet, granite countertops and cabinets in select units. There still exists potential to increase rents with the completion of unit upgrades throughout as well as the addition of washers and dryers, plank flooring in second floor units, and a renovation of the outdated fitness center to match tenant demand in the area. THRIVING SUBMARKET FUNDAMENTALS Pointe 360 is located on the western side of the Northwest Central submarket with 5,157 units currently occupied at 93.6%, well above the Austin average (92.2%). Rents for class B units have reached $1.41 PSF and should continue to increase due to the area major economic drivers and affluent demographics. With zero units added to the submarket in the last 12 months and only 250 units in the current pipeline within 3 miles of the property, Pointe 360 and the local apartment market should continue performing favorably. DOWNTOWN AUSTIN ILES: $131K (15 MINUTES) ITHIN 3 M COME W WEST LAKE HILLS OLD IN ($910K MEDIAN HOME VALUE) USEH E HO RAG NORTHWEST HILLS AVE ($620K MEDIAN HOME VALUE) DAVENPORT LA AUSTIN COUNTRY CLUB KE AUS TIN ($1MM MEDIAN HOME VALUE) VILLAGE · MENTOR GRAPHICS FAR WEST BLVD Y GHWA F TEXAS HI ITAL O C N CAP OURTYARD DR BULL CREEK MARKET BULL CREEK PRESERVE 198,143 SF R LAKEWOOD D 1,084 EMPLOYEES FM 2 222 1.8 MM SF Retail • 1.9 MM SF Office 1 MM+ SF Retail • 665,000 SF Office 2,800 Apartments • 775 Keys in 4 Hotels 100 Acres • 478-room Renaissance Hotel • Poery Barn • Nordstrom • Restoration Hardware • The Cheesecake Factory • Neiman Marcus • Whole Foods Market • Z Gallerie • Barnes & Noble • Apple • Dillards • Gap • Banana Republic GATEWAY SHOPPING CENTER • Macy’s • iPic Theater • Jos. A. Bank • Costco • Whole Foods • Target • Regal Cinema NORTHWEST HILLS ($620K MEDIAN HOME VALUE) • Best Buy • Sam’s Club • HEB DRIVE TIMES BULL CREEK PRESERVE THE ARBORETUM: 6 MINUTES GATEWAY SHOPPING CENTER: 7 MINUTES DAVENPORT VILLAGE: 7 MINUTES SHOPS AT ARBOR WALK: 8 MINUTES THE DOMAIN: 10 MINUTES N C APIT AL OF TE XAS H IGHW AY 198,143 SF 1,084 EMPLOYEES FM 2222 MATT POHL FORREST BASS SEAN SORRELL SPENCER ROY SEAN WOLFF CASEY WENZEL Director Director Sr. Managing Director Analyst Analyst Director - Debt Contact [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] 512.532.1929 512.532.1964 512.532.1924 512.532.1977 512.532.1954 512.532.1923 HFF has been engaged by the owner of the properties to market them for sale. Information concerning the properties described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change..
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