Pecan Acres

INVESTMENT HIGHLIGHTS

EXECUTIVE SUMMARY

Berkadia Real Estate Advisors is pleased to announce the exclusive listing of Pecan Acres Apartments (“the Property”), a 112 -unit, garden-style apartment community located in a premier location in Lake Charles, Louisiana. Pecan Acres Apartments consists of two-story, wood-frame constructed buildings featuring stucco and wood-sided exteriors and is situated on 5+/- acres of land with 90,184 square feet of rentable space throughout seven buildings. The Property contains a unit mix comprised of 48 one-bedroom units with 642 square feet each, 24 two-bedroom/one-bath units measuring 817 square feet each, and 32 two-bedroom/one-and-one-half baths with 940 square feet, and 8 three-bedroom/two-bath units with 1,210 square feet each. Pecan Acres is situated in a quiet country setting and surrounded by a mature, wooded forest, and the pet-friendly community is naturally landscaped with well-maintained grass areas, mature trees and trimmed shrubs and bushes. Current ownership has recently completed renovations on the entire complex which was “upgraded to the studs” and has been totally modernized. Total capital expenditures are over $10 million which was focused on replacing the roofs, renovating each unit to a contemporary standard, and completely redoing the clubhouse and common areas. Lake Charles is home to a diverse and growing economy with its main industries being energy & infrastructure and leisure & hospitality that together combine for a regional economic impact in excess of $1.6 billion every year. Energy companies such as Citgo, ConocoPhillips, and Westlake have outsized presences in Lake Charles as well as major hospitality brands such as L’auberge, Golden Nugget, and Coushatta. These industries are rapidly growing which is highlighted by the major infrastructure projects currently planned that include a $15 billion LNG export facility and the $1.5 billion Interstate-10 Calcasieu River Bridge replacement project. Pecan Acres provides an excellent opportunity to acquire a fully refurbished property within a dynamic Lake Charles location & economy that continues to attract major investments and visitors from around the nation with the benefits of an accretive loan assumption possibility.

Home to nearly 206,500 residents, the Lake Charles, LA, Metropolitan Statistical Area (MSA) is the sixth-largest metro area in Louisiana. Located in the Acadiana region of southwestern Louisiana, Lake Charles is three hours west of New Orleans and two hours east of Houston. The metro area includes the parishes of Calcasieu and Cameron and is known as the “Lake Area,” referring to the many fresh-water marshes, scenic rivers, and lakes in the region. Lake Charles is the largest city in Southwest Louisiana. Over the last five years, efforts to stimulate the regional economy are driving healthy trends in Greater Lake Charles' apartment market. Over the last decade, a remarkable $117 billion worth of industrial projects have been announced in the metro, which have helped create thousands of jobs metro wide. These investments have supported growth in several of the region's blue-collar industries - including the construction, petrochemical, and transportation sectors. The Port of Lake Charles is one of the top ports in the nation.

LOCATION OVERVIEW

GALLERY

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5020 Pecan Acres St Lake Charles, LA 70605

1982

BUILT

90,184

SQ FT

112

UNITS

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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 loan brokerage business in Nevada. © 2023 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 the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.

CONTACT Info

Gregg Cordaro

Managing Director Gregg.Cordaro@berkadia.com 1.225.922.4587

Louisiana Team

Diverse Local Economy Continues to Expand Lake Charles is one of the most active industrial and leisure/hospitality regions in the southeast United States, and these industries power the regional economy and provide tens of thousands of jobs to local inhabitants. The industrial side of the economy consists of a multitude of energy companies that own/operate sixteen different chemical plants, two refineries, one LNG export facility, and three industrial gas processing plants. These sites are supported by massive infrastructure facilities highlighted by the Port of Lake Charles, the Port of Cameron, and Chennault International Airport.

All Cash or Fannie Mae Loan Assumption Option Pecan Acres is being offered all cash or on a Loan Assumption. The in place loan on Pecan Acres is at a very accretive 4.75% fixed interest rate, which is more competitive and compelling than current financing options available in the capital markets. Furthermore, there are still almost three years remaining of I/O payments which provides cushion from higher debt servicing costs.

Over $10 Million in Capital Improvements in 2021 - 2022 Significant improvements have been made across the property including capital remediation, roof repairs, renovations to all units, clubhouse upgrades, asphalt repair and all balconies and staircases have been rebuilt.

Zoned to Fantastic Schools Residents at Pecan Acres are zoned to one of the top performing school districts in Louisiana, Calcasieu Parish ISD, which ranks in the top 15 throughout Louisiana for many key metrics including overall Best School Districts, Best Places to Teach in Louisiana, Best School Districts for Athletes, and Most Diverse School District.

Lake Charles has earned the top spot for Small Market of the Year in the South for its economic development - Southern Business and Development

Diverse Local Economy Continues to Expand

Over the past decade approximately $117 billion worth of capital investments have been announced in the Lake Charles MSA - Central Louisiana Chamber of Commerce

The Lake Charles MSA cost of living score is 85.1, compared to the national average of 100 - Sperling's Best Places

McNeese State University is one of the Top Universities in the South for 12 consecutive years - U.S. News and World Report.

Matt Schildwachter

Managing Director Matt.Schildwachter@berkadia.com 1.303.689.8324

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