Berkadia is pleased to exclusively present Valley Ridge, a brand-new Class A+ detached Build-To-Rent (BTR) community. Situated on 39.15 acres, this low-density asset is strategically positioned just 10 minutes south of downtown Chattanooga, offering a peaceful suburban living experience with convenient access to nearby urban amenities. The Property features an attractive mix of spacious three, four, and five bedroom homes with open concept floorplans, high-end finishes, and custom home features and living experience. As the only BTR community in a submarket with very limited Class A inventory, the Property has experienced strong lease-up demand and rent growth while boasting a high-earning resident profile capable of absorbing future rent increases. Valley Ridge represents an excellent opportunity to acquire a premier Class A+ BTR community, utilizing conventional multifamily operations and traditional multifamily financing.
Executive Summary
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Premier A+ Detached BTR Community
1
Brand new D.R. Horton built community featuring spacious three, four, and five bedroom homes with open concept floorplans
Two car garage and driveway, fenced in backyard, state-of-the-art smart home package, and top-of-market finishes for every home
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Exceptional Connectivity
Immediate proximity to US Highway 27 and I-75 provides direct access to downtown Chattanooga and premier economic hubs throughout the region
< 20-minute average drive times to 100,000+ jobs
3
Ideal Renter Demographic
High-earning resident profile with an average household income of $145,804
Favorable rent-to-income ratio supports rental upside of $1,300/month
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Strong Lease-Up Demand and Rent Growth
Average of 8 move-ins per month during lease-up to date
Strong rent growth averaging 5% across all floorplans from first to last leases
5
Highly Differentiated Product and Lack of Competing Supply
First and only BTR community in the submarket with limited Class A supply
No properties currently under construction and no planned deliveries - Only 409 multifamily units delivered in the submarket since 2014
Investment Highlights
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.
© 2024 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.
JOHN BRAY
Senior Managing Director
404.654.2595
john.bray@berkadia.com
RICHARD LEVINE
Senior Managing Director
404.654.2590
richard.levine@berkadia.com
JOSH FINLEY
Managing Director
404.654.2594
josh.finley@berkadia.com
Mortgage Banking
Tyler Hogan
Director404.654.2609tyler.hogan@berkadia.com
Caleb Troop
Managing Director
980.208.1668 caleb.troop@berkadia.com
Investment Sales
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Market
Chattanooga, known as “Gig City” benefits from a diverse mix of industry and services, a history of sustainable population growth, and reasonable tax rates that combine to help the regional economy maintain a healthy balance. The city continues to attract a highly skilled workforce due to the robust fiber optic internet speeds that have helped establish multiple tech companies. Chattanooga is home to a prolific job network including top employers such as Volkswagen, Blue Cross Blue Shield and Erlanger Health System. Local lifestyle attractions such as the Tennessee Aquarium, riverfront parks, Rock City, minor league baseball, Heritage Dog Park, Bluff View Art District, Blue Goose Hollow Trail and Lookout Mountain continue to drive the region’s growth. With thriving residential communities, growing businesses, and numerous recreational activities, Chattanooga offers a high-quality way of life.
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Atlanta, GA 30326
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The Reviews are In
“One of the 10 Great Cities in the US for Outdoor Adventure"
-Washington Post, 2022
"Best Place to Retire in the South”
-Southern Living 2023
“One of the Best Mountain Towns in the U.S.”
-Outside Magazine, 2022
“One of 6 Great Cities for Startups”
-CNBC
“One of the Best Places to Travel in June”
-Travel and Leisure, 2022
#1 Best City to Work From Home
Zillow
“One of the Best Places for a Dreamy Retirement”
-Southern Living Magazine, 2022
David Wilson, MAI
Senior Director256.682.9143david.wilson@berkadia.com
Andrew Mays
Senior Managing Director404.445.1067
andrew.mays@berkadia.com
RUSS HARDY
Managing Director
404.422.0499
russ.hardy@berkadia.com
10 Draught Street, Rossville, GA, Chattanooga MSA
129 TOTAL UNITS
BRAND-NEW PREMIER CLASS A+ BUILD-TO-RENT (BTR) COMMUNITY
Additional Offerings:
Miller Landing
Miller Landing
The Lakes at Statham
The Lakes at Statham
Tom Genetti
Managing Director205.403.5545tom.genetti@berkadia.com
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