Summary

Asante Apartment Homes are located in the northwestern part of Phoenix in Surprise, Arizona. The development will be one of the only rental apartment complexes located in an upscale master plan community. Asante is situated one quarter mile from the Loop 303 Freeway along the Grand Avenue corridor.

The demand for apartments across the metro area is supported by the significant population influx encountered each year by the Phoenix Metro Area. Ongoing corporate relocations and expansions should ensure continued migration and apartment demand for the region. With population and employment growth surging, the local apartment market is expected to experience good occupancy rates and rent growth in the next few years.

The investment opportunity consists of two stages.  Stage I is the land acquisition and design process.  It is estimated that this stage will take twelve months.  Upon approval of the preliminary site plan by the city, the Operator will obtain building permits.  Stage II will be the commencement of construction.  This stage is projected to take up to twenty months.  The property will then be marketed for sale.  The upside potential is rooted primarily in the value created through the development process.