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The Opportunity
Executive Summary
Berkadia is pleased to exclusively present Walden at Oakwood, an immaculately maintained 300-unit garden-style apartment community offering an outstanding Value-Add Opportunity at a significant discount to replacement cost. Situated on 27.86 acres, this exceptional asset is strategically positioned less than one mile from Interstate 985, offering unmatched connectivity to Downtown Gainesville to the north and the I-85 Economic Corridor to the south, a powerhouse economic driver in the region and home to 490,000+ jobs. The Property is also directly walkable to a Publix anchored shopping center with 140K SF of retail shops.
Due to its strategic location, top-class management, and excellent curb appeal, Walden at Oakwood has performed remarkably, boasting an average occupancy of 96% since 2021 and rent growth of 26% over the same period. The Property’s units are 100% “Classic”, presenting new ownership with an excellent value-add opportunity to renovate interiors and push rents in-line with top-of-market competitors. Superb demographics and a low rent-to-income ratio further set the stage for future rent growth. Walden at Oakwood represents a rare opportunity to acquire an exceptional asset in excellent physical and operational condition with tremendous untapped Value-Add Potential.
Immaculate Garden-Style Community with Excellent Historical Operations
Investment Highlights
Meticulously maintained and in excellent physical condition
Average occupancy of 96% since 2021 and rent growth of 26% during the same period
MARket
PHOTO GALLERY
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
Mortgage Banking
RUSS HARDY
Managing Director 404.422.0499 russ.hardy@berkadia.com GA, DRE #347522
Andrew Mays
Senior Managing Director 404.445.1067 andrew.mays@berkadia.com
Paul Vetter
Senior Managing Director 404.445.1068 paul.vetter@berkadia.com
Investment Sales
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SUMMARY & HIGHLIGHTS
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The Northeast Atlanta Suburbs have experienced robust growth stemming from new jobs, sustainable population growth, and a diverse mix of industry and services. Noteworthy employers such as Northeast Georgia Medical Center, Kubota Manufacturing, Primerica, and Intuitive are actively expanding, which supports the healthcare, finance, technology, and advanced manufacturing industries. These thriving industries help the regional economy maintain a healthy balance. The area also benefits from popular lifestyle attractions such as Lake Lanier, the Mall of Georgia, Chateau Elan, and Don Carter State Park, which provide a high-quality way of life.
Property Tour
Walden at Oakwood
Premier Value-Add Opportunity
4000 Walden Way | Flowery Branch, GA | 300 Units | 2010 BUILT
DOC CENTER
DOC CENTER
Premier Value-Add Opportunity at a Significant Discount to Replacement Costs
100% “Classic” units with average rents trailing top-of-market competitors by $240+
Opportunity to capture an additional $1M+ in annual income through interior enhancements and additional revenue boosters
Significant discount to replacement cost at “post-renovation” basis
Exceptional Connectivity
Immediate access to I-985 provides best of market connectivity to multiple employment nodes throughout Gainesville, the I-85 Economic Corridor, and Metro Atlanta
Direct Proximity to 490,000+ jobs
Walkable to a Publix anchored retail center and Chik-Fil-A
Explosive Growth Location
29,000+ jobs added over the last 10 years with an additional 4,500+ projected by 2029
Stemming from the region’s exceptional job growth, the population within five miles of the Property has grown by 31% since 2010 and is estimated to grow an additional 13% over the next five years
Strong Submarket Fundamentals
Effective rent growth of 17% since 2021 and 11% projected rent growth over the next three years
Submarket averages 95% occupancy and has averaged at or above 95% occupancy over the last eight years
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Richard Levine
Senior Managing Director 404.654.2590 richard.levine@berkadia.com
Josh Finley
Managing Director 404.654.2594 josh.finley@berkadia.com
4000 Walden Way | Flowery Branch, GA | 300 Units
Tom Genetti
Managing Director 205.403.5545 tom.genetti@berkadia.com
VIDEO TOUR
10% POPULATION GROWTH
IN THE NEXT FIVE YEARS
PROJECTED 113K+ RESIDENTS
ADDED IN THE NEXT 5 YEARS
AVERAGE HOUSEHOLD INCOME
$120K+
MEDIAN AGE
38
AVERAGE HOME VALUE
$530K+
Market By the Numbers
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.