Keeneland Downs

Opportunity

Berkadia is please to present the exclusive opportunity to acquire Keeneland Downs, an 85-unit community located in Columbia, Missouri. Positioned in a thriving college town and home to University of Missouri, Columbia boasts a strong rental demand driven by a growing population and a stable economy. Keeneland Downs offers investors the chance to capitalize on consistent occupancy rates, value-add potential, and proximity to major employers, retail, and entertainment hubs. This is a rare opportunity to acquire a well-positioned asset in a dynamic and resilient market. Keeneland Downs offers an attractive Freddie Mac loan assumption with a favorable, below-market interest rate of 3.07%.

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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. © 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

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ST. LOUIS OFFICE

101 S. HANLEY ROAD, SUITE 550 ST. LOUIS, MO 63105 PHONE: 314.984.5500 | FAX: 314.498.5501

Investment Advisors:

FINANCING:

Christopher Ellis

Senior Managing Director 303.689.8317 christopher.ellis@berkadia.com

KEVIN KOZMINSKE

Senior Managing Director 314.984.5514 kevin.kozminske@berkadia.com

ANDREA KENDRICK

Managing Director 314.984.5591 andrea.kendrick@berkadia.com

BOBBY MILLS

Senior Director 314.984.5505 bobby.mills@berkadia.com

PHOTO GALLERY

Willow Ridge is located one mile from Palmer Park which is Colorado Springs largest greenspace with over 730 acres of parks and 25 miles of hiking trails.

Minutes from Palmer Park:

The property sits a couple blocks from Academy Blvd, which is one of Colorado Springs main North/South thoroughfares. Academy Blvd is lined with restaurants, grocery stores, and big box retailers.

Proximate to Retail:

Willow Ridge has been owned by the same owner for 18 years.

Long Term Ownership:

Current management is operating the property with a 57% expense ratio. Via professional management, a new owner should be able to see significant cost savings in controllable expenses.

Operational Upside through Controllable Expenses:

Current ownership has maintained the property exceptionally well. Capital improvements in recent years include four new boilers, all vinyl windows, new siding & stucco repair work, new landscaping, and a new parking lot resurface. The roof was replaced in 2024 and ownership is currently replacing all electrical panels at the property.

Significant Capital Improvements Complete:

The property currently has 35 storage units that new owner could grow top line revenue by charging $25/month for storage.

Increase Revenue via Rentable Items:

Current ownership does not charge for pet rent and a new owner can charge up to $35/month per pet in addition to a $200 pet deposit per pet.

Operational Upside in Other Income:

The property is a mile from Palmer Park, a 15-minute drive to Downtown Colorado Springs, a 15-minute drive to the Colorado Springs Airport, and a 15-minute drive to Interstate 25.

Central Colorado Springs Location:

Willow Ridge contains eight tuck-under parking spots that are rented for $25/month and are consistently full. Due to demand, a new owner can raise parking rents up to $50 or $75 per month per tuck under parking space.

Tuck Under Parking:

University of Missouri-Columbia (Mizzou): Keeneland Downs is a quick five-minute drive from the university, which enrolls over 30,000 students annually, contributing to a stable rental demand and a highly educated workforce. Mizzou is a member of the prestigious Association of American Universities (AAU) and is recognized for its School of Journalism, cutting-edge research, particularly in the agricultural, engineering and health sciences fields. Economic Drivers: Columbia benefits from a diversified base, including major employers in education, healthcare, and insurance. Boone Hospital Center, MU Health Care, and Shelter Insurance are among the top employers, providing stability and resilience to the local economy. Additionally, Columbia’s unemployment rate consistently trends below the national average, and the city has a reputation for fostering small business growth and innovation.

Strong Occupancy: High historical rates have been driven by steady demand in the Columbia market. Keeneland Downs’ historical occupancy has been 98% and the property is currently 100% occupied. They have strong tenant demographics and zero evictions in the last 12 months. Value Add Potential: Opportunity to continue unit interior renovations and add amenities for rent premiums. Current ownership has updated ~75% of the units with rental premiums of $190 to $275 per unit, leaving room for a buyer to finish the renovations. With a history of high occupancy, the property generates strong cash flow, supported by a stable tenant base and strong market fundamentals. Keeneland Downs offers immediate cash flow with long-term appreciation in a growing and resilient market.

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8 N Keene St Columbia MO, 65201

Keeneland Downs

Central Air Conditioning

Domestic Hot Water Heaters

Forced Air Furnaces

Individually Metered

$300/month

Cooling

Mechanical Systems

FEES

PARKING

UTILITY BILLUNG STRUCTURE

Hot Water

Heat

Gas

Electric

Water/Sewer

Pet Deposit

$35/month

Pet Rent

109 Surface Spaces

Parking

2.27/Unit

Parking Ratio

garden-style

2 miles east of Downtown Columbia

at the intersection of N Keene St and E St Charles Rd, just east of U.S. Highway 63

1977

two

brick and siding

frame

# of total units:

Property Information

Style:

Distance from Downtown:

Location:

Year built:

# of total buildings:

# of stories / floors in each building:

Building materials:

Exterior building materials:

pitched roofs with shingles

Roof type:

6.60 acres

Acres of land:

12.72 units per acre

Density:

yes - 25 lb limit; pet fee $500/pet; pet rent $25/month

Pets allowed:

PROPERTY SUMMARY

LOCATION

Prime Location: Keeneland Downs is five minutes to the University of Missouri, Boone Hospital, Women’s Health Center and other healthcare facilities, as well as Columbia’s vibrant downtown. Additionally, the property benefits from proximity to Columbia College and Stephens College. Residents also enjoy easy access to Columbia’s thriving downtown, which offers a variety of dining, shopping, and entertainment options, as well as nearby recreational amenities like the Stephens Lake Park, MKT Trail, and Cosmo Park. Growing Market: Columbia’s population has grown by approximately 10% since 2010, with projections indicating continued expansion due to its attractive quality of life and economic opportunities. population growth and economic stability make it a very desirable investment market. Columbia’s central location in Missouri, along the I-70 corridor, makes it a key connection point between St. Louis and Kansas City.

68 two-bedroom units measuring between 855 and 888 square feet 17 three-bedroom units measuring between 1,100 square feet Average unit size of 926 square feet

UNIT MIX

Sparkling Swimming Pool with Sundeck Courtyard with Green Space Laundry Facility in Addition to Washer and Dryer Connections in Each Unit On-Site Management 24-Hour, On-Site Maintenance Outdoor Community Mailbox Areas Plenty of Convenient, On-Site Parking Beautifully Landscaped with Manicured Grass, Mature Trees, and Plants Online Resident Portal with Rent and Maintenance Request Acceptance Columbia’s Public Transit (Go Como) Provides a Bus Stop in Front of the Property (Green Route) Close to Parks, Trails, Lakes, Golf Courses, Schools, Stores, Restaurants, and Entertainment Options Convenient Access to Interstate 70, U.S. Highway 63, State Route 740, University of Missouri, and Downtown Columbia

Community Amenities

Spacious Floor Plans Kitchen with Electric Stove, Refrigerator, Dishwasher, Disposal, Double Basin Sink, Separate Dining Area, and Plenty of Cabinet and Counter Space Wood-Style Flooring, Plush Carpeting, Lighted Ceiling Fans, and Mini / Vertical Blinds Full Size Bathroom with Tub and Shower Combination / Walk-In Shower Large Closets and Semi-Private Entry Private Patio / Balcony with Sliding Glass Doors Washer and Dryer Connections Select Units Include Walk-In Closets, Powder Room / Half Bath, and Outdoor Living Space Central Air Conditioning / Heating, Satellite TV Available, and High-Speed Internet Access

Unit Amenities

AMENITIES

KEN ASTON

Managing Director 314.984.5590 ken.aston@berkadia.com

CORTNEY MAULDIN

Managing Director 314.322.3463 cortney.mauldin@berkadia.com

PAT GARLICH

Director 314.984.5536 pat.garlich@berkadia.com

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