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 company business in Nevada.
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Jared Glover
Director
702.522.2729
jared.glover@berkadia.com
Andrew Curtis
Director
602.571.4190
andrew.curtis@berkadia.com
Dan Cheyne
Managing Director
602.327.4447
dan.cheyne@berkadia.com
Kristin Watson
Operations Director
602.445.1674
kristin.watson@berkadia.com
Mark Forrester
Senior Managing Director
602.526.4800
mark.forrester@berkadia.com
Ric Holway
Senior Managing Director
602.828.0074
ric.holway@berkadia.com
Investment Sales
Scott Holland
Senior Managing Director
602.997.3802
scott.holland@berkadia.com
Mortgage Banking
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Hampton Meridian’s unique Hercuwall construction boasts a stronger, more energy-efficient and sustainable building when compared to traditional wood framing, and even surpasses current building codes and ESG standards..
HERCUWALL CONSTRUCTION OFFERS EFFICIENCY AND SUSTAINABILITY
The average rental rate of single-family properties is 28% higher than the average effective rent for conventional apartment units.
SINGLE-FAMILY RENTAL & BUILD-TO-RENT OUTPERFORM MULTIFAMILY
Boasting an average household income over $108,000, Hampton Meridian’s affluent resident base promotes long-term rental growth.
HIGH RESIDENT DEMOGRAPHICS
Hampton Meridian is located less than a mile from the U.S. 60 Freeway, providing residents with immediate access to the East Valley’s major employment centers offering high-paying jobs across diverse industries.
ULTRA-CONNECTED LOCATION WITH ACCESS TO DIVERSE, HIGH-WAGE EMPLOYMENT
Five hospitals within a ten-mile radius of Hampton Meridian provide recession-proof employment and support more than 9,000 jobs in the region.
WORLD-CLASS HEALTHCARE PROVIDES RECESSION PROOF EMPLOYMENT
Hampton Meridian recently completed a successful lease-up witnessing robust leasing velocity. Current in-place rents are 8.6% below the comparable set supported market rent presenting a compelling opportunity to generate additional revenue.
NEWLY STABILIZED COMMUNITY WITH SUCCESSFUL LEASE-UP STORY
INVESTMENT HIGHLIGHTS
Berkadia is pleased to present Hampton Meridian, a 195-unit Build-to-Rent (BTR) community located in Apache Junction, Arizona. Built in 2023, Hampton Meridian presents thoughtfully designed single-story buildto-rent homes with private backyards and attractive community amenities in a high growth, suburban market. The property features a low-density site plan with a combination of duplex and standalone homes, along with well-distributed open areas, providing residents with a distinct sense of privacy. Rental fundamentals in the East Valley are among the best in Arizona, achieving some of the strongest rent gains in the Phoenix market over the past five years. Build-to-Rent demand continues to be bolstered by high mortgage payments and limited resale single-family opportunities, allowing investors to further capitalize on the product type’s higher rent levels in the market when compared to traditional multifamily communities.
Direct connectivity to the US-60 Freeway and just four miles from the Loop 202 intersection, Hampton Meridian provides unrivaled access to the diverse, high wage employment throughout the East Valley. The area’s expanding labor market is a powerful economic engine, attracting high-quality employers. Extensive development projects in the submarket continue to sustain the submarket’s renter pool. Such as LG’s $5.5B battery manufacturing plant, which is expected to create 2,800 highwage jobs by 2025, and Meta’s $800M data center, which will bring in 2,000 skilled tradespeople during construction.
Price: To be Determined by Market
The Opportunity
16601 N. Parkview Place | Surprise, AZ 85374
60
Detached Garages
1,009
Avg Unit Size
2023
BUILT
195
UNITS
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Nestled at the foothills of the Superstition Mountains, Apache Junction is known for its wide range of recreational activities. Neighborhood amenities include a Sprouts Farmers Market, Walmart Supercenter, LA Fitness, AMC, and a robust list of local and national restaurants.
PROXIMITY TO LIFESTYLE & ENTERTAINMENT
The Phoenix metropolitan area led the nation in net migration in 2022, adding 56,831 residents, as its competitive advantage regarding cost, talent, quality of life, and business-friendly regulatory environment have helped fuel strong job growth.
TOP GROWTH CITY FUELED BY NET MIGRATION
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Declining home ownership affordability and limited resale opportunities should continue to create demand tailwinds for Hampton Meridian’s unique Build-to-Rent housing.
HIGH MORTGAGE RATES AND LIMITED RESALES BOLSTER BUILD-TO-RENT DEMAND
Hampton Meridian features an attractive unit mix consisting of one-(24%), two-(47%), and three-bedroom (29%) floorplans, enhanced by attractive community amenities including a resort-inspired pool and spa, fitness center, and private dog park.
HIGHLY AMENITIZED BUILD-TO-RENT COMMUNITY WITH BALANCED UNIT MIX