Patrick Jordan
Managing Director
901.425.1828
patrick.jordan@berkadia.com
Investment Sales
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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.
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PHOTO GALLERY
Berkadia is pleased to present the exclusive opportunity to acquire Park Avenue Lofts, a 2013-constructed, mid-rise multifamily asset comprising 258 total units across four five-story buildings in an irreplaceable Midtown / Medical Corridor location less than five miles west of Downtown Little Rock, Arkansas.
In addition to location, significant upside potential can be found in the market fundamentals. This acquisition offers a new investor the opportunity to assume long-term, in-place debt boasting rates well below today’s market environment while continuing to grow rents and capture loss-to-lease through modest capital infusions. Further, this best-in-class product benefits from the fact that virtually no new construction is currently in progress in the submarket due to a lack of raw land and assemblage options, thus allowing new ownership to capitalize on minimal competition and continued strong occupancy.
Considering the irreplaceable central location, abundant access to popular amenities and employment options, plus the favorable debt structure and rent growth opportunities in place at the Park Avenue Lofts, a new investor may be well-positioned to garner long-term value appreciation with this one-of-a-kind acquisition.
The Opportunity
Assumable long-term debt in place, with rates well below today’s market environment
Ability to continue growing rents and capturing loss-to-lease through strategic capital infusion
Centrally located near multiple hospitals (Chi St. Vincent, VA Hospital, Baptist Health Medical Center, and Children’s Hospital), Universities (UAMS, UA Little Rock), dining, malls, employment, and standalone retail
Best-in-class product with virtually no new construction in the submarket due to lack of raw land or assemblage options
258 units, built 2013 in an irreplaceable Midtown/ Medical corridor location
INVESTMENT HIGHLIGHTS
320 S University Ave | Little Rock, AR 72205
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Ben Parrish
Associate Director
901.425.1829
ben.parrish@berkadia.com
PARK AVENUE LOFTS
Location information
The central Medical Corridor location also places Park Avenue Lofts near multiple hospitals and other amenities. Chi St. Vincent, the VA Hospital, Baptist Health Medical Center, and Children’s Hospital are all less than four miles from the property. The University of Arkansas for Medical Sciences (UAMS) and the University of Arkansas at Little Rock (UA Little Rock) are both less than three miles away. A wide array of convenient venues for dining, shopping, standalone retail, as well as a multitude of employment options dot the nearby landscape. Favorites like Target, Chipotle, Chick-fil-A, Kroger, UPS, the Little Rock Zoo, War Memorial Stadium, schools, local parks, and even the banks of the Arkansas River are all within minutes of the property.
Residents are never more than a few minutes away from beloved local destinations, like the Plaza Mall, River Market, the Arkansas Museum of Fine Arts, and an endless variety of popular venues on offer in the bustling metro.
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320 S University Ave. |. Little Rock, AR 72205