9800 STARLET DR FAIRDALE Louisville KY 40118

Capstone Apartment Partners is pleased to present the Louisville Value-Add Portfolio: three properties built between 1991 and 1996, totaling 360 units. The well-located properties have been professionally maintained, as current ownership developed the assets as long-term holders and routinely addressed deferred maintenance. Since the properties have been meticulously maintained, prospective owners can focus their efforts and capital on the value-add opportunity that the portfolio provides. Starlet Square, Hawthorne Place, and Lakeview Garden are poised to benefit from a two-prong value-add approach: the unit interiors are untouched and lag behind competitors as it relates to interior finishes and effective rents. Additionally, realigning the fee structure with the market will help capture additional income with water/sewer billback, washer and dryer rentals, and other fees.

This portfolio is being sold by the original developer which makes each asset ideal for immense physical and operational value-add and upside. Given the well-kept nature of the 1990s-vintage properties, prospective owners will be able to focus efforts and capital to return producing value-add initiative the portfolio provides. Starlet Square, Hawthorne, and Lakeview Gardens are poised to benefit from a two-prong value-add approach: the unit interiors have been untouched lagging behind competitors in terms of finishes and effective rents and realigning the fee structure with the market will help capture additional income with water/sewer billback, washer and dryer rentals (all units have hookups), and other fees.

Pricing Guidance is $110,000 per unit ($39,600,000 total)