Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
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Chattanooga-Clarksville MHC Portfolio
hunter larocca
Director
402.227.9643
hunter.larocca@berkadia.com
Brian Hummell
Director
614.468.5773
brian.hummell@berkadia.com
Ian Hilpl
Managing Director 315.406.0900
ian.hilpl@berkadia.com
David Wilson
Senior Director256.682.9143david.wilson@berkadia.com
Kevan Enger
Senior Managing Director 407.494.8541
kevan.enger@berkadia.com
BROKERs OF RECORD
CONTACT US
Orlando Office
300 South Orange Avenue
Suite 1500
Orlando, FL 32801
Columbus OFFICE 6555 Longshore Street
Suite 280
Dublin, OH 43017
Judith MacManus Qualifying Broker
404.654.2074
judith.macmanus@berkadia.com
Brian Brockman Brian Brockman
Bang Realty, Inc.
Broker of Record office
BIRMINGHAM OFFICE2204 Lakeshore DriveSuite 120Birmingham, AL 35209
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Forest Ridge is located just a few miles from Downtown Chattanooga, TN metropolitan statistical area. Greater Chattanooga is a vibrant and thriving area that offers a unique blend of natural beauty, rich history, and strong employment growth. The area is known for its stunning landscapes, including Lookout Mountain and the Tennessee River Gorge. The city is famous for its outdoor recreational opportunities, with hiking, biking, and rock climbing attracting adventure enthusiasts. Additionally, the area boasts a diverse cultural scene, with a vibrant arts community, live music venues, and a variety of festivals throughout the year.
Chattanooga, TN – Forest Ridge MHC
Just a 40 minute drive from Ashwood Village, Clarksville is nestled along the banks of the Cumberland River. With a rich history dating back to the 18th century, Clarksville is known as the “Queen City of the Cumberland,” and is the fifth-largest city in Tennessee. Nature enthusiasts appreciate the abundance of outdoor recreational opportunities, including parks, trails, and the nearby Land Between the Lakes National Recreation Area, sitting on 171,000 acres.
Clarksville, TN MSA– Ashwood Village MHC
THE LOCATION
ENTRY INTO STRONG TENNESSEE MARKETS
BELOW MARKET RENTS
OCCUPANCY UPSIDE & NEWER HOME INVENTORY
UTILITY RECAPTURE UPSIDE
ATTRACTIVE CURB APPEAL & SUBSTANTIAL CAPITAL IMPROVEMENTS
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Investment Highlights
Forest Ridge
Ashwood Village
Virtual Tours
Berkadia Manufactured Housing is pleased to present the Chattanooga-Clarksville Portfolio. This offering is comprised of 298 sites across two communities: Forest Ridge and Ashwood Village, providing immediate entry into the Chattanooga and Clarksville, TN markets. These markets have seen major population and job growth and are the 4th and 5th largest cities in Tennessee respectively. Additionally, both Forest Ridge and Ashwood Village boast below-market rents and occupancy upside, creating a significant potential for rent increases and infill opportunities. In addition, a new owner could improve water and sewer recapture at both communities, further adding to the upside opportunities. Moreover, the average age of the park owned homes in this portfolio is 2015, resulting in reduced capital expenditure and maintenance costs typically associated with older properties. Lastly, the portfolio showcases appealing curb appeal and recent capital improvements. The current ownership has invested over $6,000,000 in renovations and enhancements, significantly enhancing the operational efficiency and visual appeal of each community. This offering presents the opportunity to acquire two communities that provide strategic market entry, rental upside, and attractive curb appeal complemented by recent capital improvements.
Call for offers: Tuesday, May 7, 2024
The Opportunity
Forest Ridge
Ashwood Village
Chattanooga-Clarksville MHC Portfolio
INVEST IN CHICAGO'S CORE SUBURBAN CORRIDOR
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Call for Offers: Tuesday, May 7, 2024
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The Location
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Quick Facts (2023 Estimate) – Chattanooga, TN-GA, MSA
583,569 / 2023 Population
1.3% / 5 year projected population growth
$61,383 / Median HH Income
$291,046 / median price single family home
Quick Facts (2023 Estimate) – Clarksville, TN-KY, MSA
325,675 / 2023 Population
4.2% / 5 year projected population growth
$47,461 / Median HH Income
$305,000 / median price single family home
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Forest Ridge
Forest Ridge
Forest Ridge
ASHWOOD VILLAGE
ASHWOOD VILLAGE
ASHWOOD VILLAGE
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LOCATION
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