portfolio of 93 units - loopnet · 2017-11-09 · svn | imperial realty |1611 pond road, suite 200,...

SVN | Imperial Realty | 1611 Pond Road, Suite 200, Allentown, PA 18104 SALE BROCHURE

PORTFOLIO OF93 UNITSPORTFOLIO OF 93 UNITSREADING, PA

Steven A Wilson, MBAAssociate [email protected]

Chris Baj, CCIM, CPASenior [email protected]

OFFERING SUMMARY

Sale Price: $3,950,000

Number Of Units: 93

Cap Rate: 9.4%

NOI: $371,488

Building Size: 84,981 SF

Market: Reading

Price / SF: $46.48

PROPERTY OVERVIEWThis 93 unit multifamily portfolio consists of 34 properties located within a 2.5mile radius in Reading, PA. This is a great value-add opportunity as each of the34 properties can be sold as its value maximizes. The residential values areimproving in all markets and a prudent investor and manager will be able tooptimize the cash flow from these properties while, at the same time, makeappropriate improvements to increase rent potential and property value.

As industrial demand remains strong it is moving into Berks County foradditional space and need for labor force. Reading has the new and amplepool of needed labor. This leads to strong demand for residential housing.

PROPERTY HIGHLIGHTS

• 93 units in 34 individual properties located in densely populated city

• Near schools, parks, retail ... making them convenient and attractiveresidential properties

• The value of each of the 34 buildings can be maximized individually andsold when at highest price

• Great value add investment opportunity in a stable and proven market

Property Summary

PORTFOLIO OF 93 UNITS | PORTFOLIO OF 93 UNITS, READING, PA SVN | Imperial Realty |

Locations Of Properties


Property Descriptions


Location Maps


Demographics


READING, PA

Reading is the county seat of Berks County and with a population of 87,879 is the fifth-largest city in Pennsylvania. Located in southeasternPennsylvania, it is the principal city of the Greater Reading Area. The city, approximately halfway between Philadelphia and the state capital atHarrisburg, is strategically situated along a major transportation route from Central to Eastern Pennsylvania. Through numerous federal andstate highways and turnpikes, the city is linked to other major cities such as New York (125 miles) and Baltimore (97 miles).

Occupation groups in the Reading, PA MSA with the highest average wages per worker are Management Occupations ($115,000), LegalOccupations ($93,000), and Computer and Mathematical Occupations ($77,400). The unemployment rate in the region varied among the majorgroups from 1.6% among Legal Occupations to 8.5% among Transportation and Material Moving Occupations.

Over the next 10 years, the fastest growing occupation group in the Reading, PA MSA is expected to be Healthcare Support Occupations with a+1.9% year-over-year rate of growth. The strongest forecast by number of jobs over this period is expected for Healthcare Practitioners andTechnical Occupations (+1,385 jobs) and Healthcare Support Occupations (+1,288).

Movoto Real Estate Blog cites Reading as the fifth most densely-populated city in Pennsylvania, and ranks it 8 th in its list of the “10 MostExciting Places” in the state.

The city is home to nearly 400 company headquarters -- including 189 international companies – is #6 in the state for the number ofmanufacturing jobs, and projects the population to grow 20% by the year 2040.

City Information


1611 Pond Road, Suite 200Allentown, PA 18104T 484.245.1021C [email protected] #RS336831

PROFESSIONAL BACKGROUND

Steve joined the SVN Imperial Realty team in 2016 after more than 30 yearsin business development -- primarily in manufacturing and distribution. Asan owner of his own contract manufacturing and fulfillment company since2005, Steve brings a unique insight to his client relationships.

Although Steve's work as a member of the Baj Team includes hospitality,multifamily, retail and land, his extensive background in manufacturing givesa special focus to the industrial sector.

His business background includes working with entrepreneurs, seniormanagers and C-level executives in a wide range of industries on a nationaland international scale. In addition to running his own business, hisexperience includes positions with companies such as AQL Decorating(O.Berk Company), Victoria Vogue Inc, Day Timers Inc (ACCO Brands/FortuneBrands), Sun Refining & Marketing (APlus Markets), and GTE Sylvania. Thisunique exposure to both Fortune 500 companies and small businessesaffords Steve the perspective needed to tackle any given situation.

As a CRE advisor, Steve uses his business development background tounderstand his clients' objectives and challenges before presentingsolutions. He knows the value of building positive relationships and workstirelessly to structure transactions in which all parties achieve their statedgoals.

A native of Pennsylvania (Bucks and Chester counties), Steve has also livedand worked in Maryland and Florida. Steve and his wife Jennifer -- theparents of three sons -- reside in the Lehigh Valley.

For additional information on The Baj Team please visit our website atwww.thebajteam.com.

EDUCATION

- Lehigh University - College of Business & Economics -- MBA in Marketing- Loyola University - Sellinger School of Business and Management -- beganMBA coursework prior to relocation to PA- Penn State University -- BS Mineral Economics

STEVEN A WILSON, MBA

Associate Advisor

Advisor Bio


1611 Pond Road, Suite 200Allentown, PA 18104T 484.245.1016C [email protected]

PROFESSIONAL BACKGROUND

Chris has over 30 years experience in business advisory and commercial real estate

consulting. He approaches his client's needs not only from the traditional brokerage

and consulting perspective, but also by handling each transaction as if it were his

own - providing the highest diligence possible utilizing the cutting-edge platforms

of SVN. In this way Chris combines the traditional advisory services with

value-enhancing options for his clients. Chris works with clients and properties

throughout the US putting together 'win-win-win' scenarios.

The focus for Chris includes multifamily, industrial, office and retail properties. He

also engages is certain development/redevelopment projects. In 2016 he was

ranked #17 out of over 1,600 SVN agents in closing sales of properties for his clients.

His market includes the Lehigh Valley of Pennsylvania but he has done transactions

all over the US. Due to Chris' success he has been asked to establish the SVN brand

and operation in Europe, specifically, in Poland.

Chris has earned the prestigious CCIM designation which can be characterized as

the 'art and science' of commercial real estate. There are only 9,000 such designees

in the United States. In addition, Chris is a CPA licensed in multiple states. This

allows him to ensure that the data and information that is being analyzed is of the

highest integrity and accuracy which is critical for optimizing decisions and

managing risks. Chris' professional career started at Arthur Andersen & Co. where

he enjoyed providing the highest level of service to a multitude of companies and

clients.

For additional information on The Baj Team please visit our website at

www.thebajteam.com.

EDUCATION

Chris has earned his degrees at Baruch College in New York City. He earned his first

CPA licensure in 1987 and his CCIM designation in 2011. He is a proud father of 2

college-attending daughters and two young sons. He lives with his wife Mia and

family in northeastern Pennsylvania.

MEMBERSHIPS & AFFILIATIONS

CCIM Institute, Designee, 2011

Member, ICSC, 2009

CPA, New York, 1987

CPA, Pennsylvania, 1998

CHRIS BAJ, CCIM, CPA

Senior Advisor

Advisor Bio


Disclaimer


The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of theproperty within and is not to be used for any other purpose. This information should not, under any circumstances, bephotocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or usedfor any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed inthis proposal, and no other person is authorized by the Owner to provide any information or to make anyrepresentations other than contained in this Offering Brochure. If the person receiving these materials does not chooseto pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy orcompleteness of the information contained herein, and nothing contained herein is or shall be relied upon as a promiseor representation as to the future representation of the Property. This Offering Brochure may include certain statementsand estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there canbe no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and allliability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, orany other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled torely solely on those representations and warranties that may be made to it in any final, fully executed and delivered RealEstate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not lookto Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates,for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conducttheir own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expresslyreserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property andexpressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any timewith or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed RealEstate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, aprospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and theSVN Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchasershould not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate PurchaseAgreement shall bind the property and each prospective purchaser proceeds at its own risk.

portfolio of 93 units - loopnet · 2017-11-09 · svn | imperial realty |1611 pond road, suite 200,...

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