OLD HICKORY TRAIL Premier Development … › d2 › TdHPFTxdOfXydsh861xnZk1...OLD HICKORY TRAIL Premier Development Opportunity in Dallas, Texas AD Red Bird Mall Y TRAIL Methodist

O L D H I C K O R Y T R A I L Premier Development Opportunity inDallas, Texas

WEST WHEATLAND ROAD

Red Bird Mall

OLD HICKORY TRAIL

Methodist Charlton Hospital

+/- 10 Acre Site

INTERSTATE 20

MARVIN D LOVE FREEWAY / US-67

OLD HICKORY TRAIL2DEAL PREVIEW M ARKE TING PROGRAMASSE T PERFORMANCE M ARKE T PERSPECTIVE

Brokerage Team__________________Brian O’Boyle, Sr., CCIMBrian Murphy, CCIMBrian O’Boyle, Jr.Richard FurrJakob AndersenBart WickardMatt WidemanKevin O’BoyleChris Colombe

YOU

T R A N S A C T I O NVOLUME 2000-2018 YTD

$13.8BILLION

DALLAS TEAM

Debt & StructureFinance_________________Braden HarmonHank GlasgowAndrew Russell

Finance Team_______________Dave KulikWill ZieglerDanny MillerTravis Ball

Transaction &Research Team________________Linda DugoLindsay ChandlerCaroline RoseRobyn RandallDee Dee WilliamsLori FosterAndrew Matheny

Graphics &Marketing Team_________________Ginger JohnsonShaar BottingEric SteibChristy Smith

MULTIFAMILY CAPITAL MARKETS

Our team provides you asset-specific customization for highly effective transaction strategies

PROFESSION AL ADVISORS


#1CITY IN THE NATION

WHERE PEOPLEARE MOVING (D/FW)

(Dallas Business Journal 2018 Book of Lists)

Average Price of NewSingle-family Homes

$310,973

2016-2017Population Growth

143,430(#1 in U.S.)

D / FWUnemployment

3.4%

New ResidentsPer Day

395

Average Projected Job Growth 2018

101,000

18THBEST PLACE

TO LIVE IN THEU.S. (D/FW)

(U.S. News and World Report 2018)

10THBEST PLACE

FOR BUSINESS AND CAREERS (D/FW)

(Forbes 2018)

#1CITY (D/FW) IN

EMPLOYMENT INCREASE IN TEXAS AND#2 IN THE U.S.

(Dallas Business Journal 2018 Book of Lists)

August 2017-2018Jobs Added

114,900(#2 in U.S.)

August 2018Job Growth

3.6%

WHY INVEST IN DFW?


SITEMAP

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+/- 10 Acre Site

Greens of Hickory Trail250 units • Built 1999

Providence on the Park280 units • Built 2004


SITE SELECTION DATA

LOCATION 9101 Old Hickory Trail

LATITUDE & LONGITUDE 32.642910, -96.867520

ACREAGE 10.08 Acres

UTILITIES Yes

ZONING MF-2(A)

SCHOOL DISTRICT Dallas Independent School District

PROPERTY TAX RATE $2.845235 Per $100 Valuation

• Easy highway access: minutes away from I-20 & US-67 interchange

• Located in one of the strongest performing multi-family submarkets in the DFW metro

• Current zoning permits multi-family, senior living, and single family development

• Highly ranked elementary school: Umphrey Lee earned 7 out of 8 distinction designations

• 8,164 vehicles per day on Old Hickory Trail

• Nearby stops for DART bus routes 404 (to Southwestern Medical District/

Parkland Station) and 415 (UNT Dallas to Southwest Center Mall)

(C) 2017 Pictometry

OLD H

ICKORY TRAIL


Site

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WEST WHEATLAND ROADOLD

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NEARBYSENIORCARE

Site

Doctor/Clinic

Nursing/Rehab

Pharmacy

Social SecurityAdmin Office

Hospital

S

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Methodist Charlton • 301 beds • “A” safety rating by LeapFrog • Nationally accredited breast care center • Level III trauma center

1 mile radius

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WEST WHEATLAND ROAD

WESTM

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RED BIRD MALLREDEVELOPMENT


P R O J E CT H I G H L I G HT S• $150 million redevelopment and expansion

project

• New mixed-use environment with retail, office, hotel, and luxury multi-family and townhomes

• Marriot-branded hotel coming soon

• New Starbucks under construction

• 200,000 SF office delivering 2020


1-MILE RADIUS

2-MILE RADIUS

3-MILE RADIUS

DALLAS COUNTY

2010 Population (Census) 7,945 32,771 83,268 2,368,139

2018 Population Estimate 8,585 35,814 89,561 2,609,461

2023 Population Projection 9,153 37,808 93,773 2,792,013

2010 - 2018 Population Growth Rate 1.0% 1.1% 1.5% 1.2%

2018 - 2023 Population Growth Rate 1.3% 1.1% 0.9% 1.4%

2018 Estimated Median Age 32.4 33.6 34.5 33.5

Renter Occupied Percentage 70.5% 60.2% 50.9% 45.1%

2018 Average Household Income $39,447 $50,202 $57,933 $80,679

2018 Median Owner-Occupied Housing Value $129,835 $133,369 $129,791 $158,400

Total Number of Businesses 345 1,331 2,619 96,564

Total Number of Employees 7,669 21,896 35,746 1,432,635

Source: ESRI Business Analyst (2018)

1-MILE RADIUS

3-MILE RADIUS

2-MILE RADIUS2018 Population

8,585

2018 AverageHousehold Income

$39,447

Pop Growth Rate 2018 – 2023

1.3%2018 Population

89,561

2018 Average Household Income

$57,933


0.9%

2018 Population

35,814

2018 AverageHousehold Income

$50,202


1.1%

AREA DEMOGRAPHICS

SITE


1-MILE RADIUS

2-MILE RADIUS

3-MILE RADIUS SUBMARKET

2010 50+ Population (Census) 2,119 6,648 2,187 26,007

2018 50+ Population Estimate 2,567 8,679 27,952 31,279

2023 50+ Population Projection 2,674 9,323 29,713 33,278

2018 - 2023 Total Population Growth Rate 1.3% 1.1% 0.9% 0.9%

2018 - 2023 50+ Population Growth Rate 0.8% 1.3% 1.2% 1.3%

2018 % Householders 55+ 40.8% 39.2% 42.5% 38.9%

2023 % Householders 55+ 39.4% 39.5% 43% 39.7%

2018 Average Household Income For Householder 55+ $36,537 $50,253 $57,306 $48,144

2018 Median Owner-Occupied Housing Value $129,835 $133,369 $129,791 $117,245

2018 - 2023 Median Household Income Growth Rate (55+) 1.4% 1.2% 1.5% 1.3%

2018 - 2023 Median Housing Value Growth Rate 2.9% 2.6% 2.5% 2.7%

Source: ESRI Business Analyst (2018)

1-MILE RADIUS

3-MILE RADIUS

2-MILE RADIUS2018 Population 50+

2,567

2018 55+ AverageHousehold Income

$36,537

50+ Pop Growth Rate 2018 – 2023

0.8%2018 Population 50+

27,952

2018 55+ Average Household Income

$57,306


1.2%

2018 Population 50+

8,679

2018 55+ AverageHousehold Income

$50,253


1.3%

AREA SENIOR DEMOGRAPHICS

SITE


ECONOMIC POWERHOUSE

Dallas-Plano-Irving is #1 LARGE CITY

on NewGeography.com‘s “2018 Best Cities for Job Growth” list

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Dallas is the #1 CITY IN THE NATION where people are moving,

per Dallas Business Journal 2018 Book of Lists. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Dallas-Fort Worth is #1 IN EMPLOYMENT INCREASE in Texas and #2 in the entire U.S.

per Dallas Business Journal 2018 Book of Lists

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Dallas ranked 3RD BEST LARGE METRO metro for high salaries after adjusting for

cost of living per Indeed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Dallas-Plano-Irving is #3 on the “2017 Milken Institute

BEST-PERFORMING CITIES” index. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Dallas is 8TH OF TOP TEN CITIES where downtown is making a comback

by Realtor.com 2017

#11 BEST PLACE TO RETIRE IN THE USA(U.S. News & World Report, 2018)

DALLAS-PLANO-IRVING IS #1 BEST CITY FOR JOBS FOR 2018 (Forbes)

DALLAS IS #4 U.S. CITY OF TOP 10 THAT ARE GROWING FAST, OFFERING JOBS, AND PRESENTING BUSINESS OPPORTUNITIES (Business Insider, 2018)

DOWNTOWN DALLAS

THE SHOPS AT WILLOW BEND

AMERICAN AIRLINES CENTER

LEGACY WEST PLANODFW INTERNATIONAL AIRPORT


SUBMARKETFOR REVENUE GROWTH(RealPage Q3 2018)

SUBMARKETFOR HIGHESTRENT GROWTH(RealPage Q3 2018)

SUBMARKETFOR HIGHESTOCCUPANCY (RealPage Q3 2018)

#1

#3

#3

Metrics (RealPage) 12 – Southwest DallasDallas /

Fort Worth

Q3 2018 Occupancy 97.0% 94.3%

Q3 2019 Forecast Occupancy 93.0% 94.2%

Total # of Multifamily Units within Submarket 18,480 792,102

Q3 2018 Quarterly Supply – Units 0 6,427

Annual Supply – Units 50 25,504

Annual Net Inventory Change Rate +0.3% +3.1%

Currently Under Construction 398 50,17

Q3 2018 Demand 136 8,263

Annual Demand 465 25,330

Q3 2018 Average Monthly Rent $876 $1,117

Q3 2018 Average Rent PSF $1.05 $1.29

Annual Rent Change +6.4% +1.7%

Annual Revenue Change +8.7% +2.0%

SUBM ARKE T STATISTICS


6

7

W WHEATLAND RDMethodist Charlton Hospital

Site

4

US-67 I-20

RENTCOMPS

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# PROPERTY ADDRESS BUILT/REN UNIT AVG SF AVG RENTAVG

RENT / SF OCCUPANCY

TAXVALUE /

UNIT

1 Providence on the Park* 8501 Old Hickory Trail 2004 280 1,080 $936* $0.87* 98% $35,714

2 Greens of Hickory Trails* 8613 Old Hickory Trail 1999/2014 250 1,090 $1,075* $0.99* 91% $38,000

3 Rosemont at Hickory Trace* 8410 S Westmoreland Rd 2003 180 1,235 $972* $0.79* 92% $42,222

4 Courtyards at Kirnwood** 2600 Bolton Boone Dr 1997/2001 198 818 $789** $0.96** 99% $34,449

5 Primrose Park Rolling Hills** 2400 Bolton Boone Dr 2001/2010 250 883 $971** $1.10** 98% $31,966

6 Colonies* 2525 Bolton Boone Dr 1985 210 817 $1,027* $1.26* 99% $51,809

7 Mount Vernon 1020 Scotland Dr 1986/2005 432 959 $1,150 $1.20 97% $43,599

Averages 1996 334 981 $1,009 $1.03 96% $39,732

Submarket (RealPage) 838 $876 $1.05 97%

RENT COMPARABLES

*Affordable **Independent Senior (55+), AffordableSource: ALN, CoStar, RealPage


MAGNOLIA CREEK

REGAL CROSSING BELLEVUE TERRACE

PROPERTY ADDRESS PRICE UNITS AVG SF RENT/SF PRICE/UNIT PRICE/SF BUILT DATE CLASS SUBMARKET

Park Village 7575 S Westmoreland Rd $25,000,000 350 811 $1.12 $71,429 $88.08 1984 Sep-18 B 12 - Southwest Dallas

Magnolia Creek 7272 Marvin D Love Fwy $28,600,000 436 786 $1.01 $65,596 $83.46 1988 Jul-18 B 12 - Southwest Dallas

Candlelight Park 1407 Acton Ave $9,625,000 128 849 $1.02 $75,195 $88.60 1979 Feb-18 C 13 - Southern Dallas County

800Link 800 Link Dr $41,500,000 440 869 $1.24 $94,318 $108.56 1987 Jan-18 B 13 - Southern Dallas County

Regal Crossing 7575 Chaucer Pl $21,850,000 384 833 $0.88 $56,901 $68.29 1983 Jan-18 B 12 - Southwest Dallas

Beckley Townhomes 801 Beckleymeade Ave $7,750,000 100 1,159 $0.82 $77,500 $66.85 2003 Dec-17 B 12 - Southwest Dallas

Bellevue Terrace 7878 Marvin D Love Fwy $12,100,000 242 618 $1.28 $50,000 $81.01 1986 Nov-17 B 12 - Southwest Dallas

Brooklawn Springs 7251 Chaucer Pl $12,000,000 348 874 $0.85 $34,483 $39.43 1971 May-17 C 12 - Southwest Dallas

Pacifica 7550-7676 S Westmoreland $18,000,000 480 766 $0.75 $37,500 $48.94 1985 May-16 C 12 - Southwest Dallas

Pebble Cove 14018 Brookgreen Dr $4,933,333 160 861 $0.90 $30,833 $35.83 1968 Mar-16 C 12 - Southwest Dallas

• Newmark Knight Frank Sales in red

PARK VILLAGE CANDLELIGHT PARK

800LINK

SALE COMPARABLES


• Ablon Frisco Square

• Alta Market Central

• Archstone Preston Park

• Avalon at Chase Oaks

• Brazos

• Cambria at Coyote Ridge

• Eastside Village I,II

• Gardens at Vail

• Jefferson Center

• Larkspur at Twin Creeks- Equity Raise

• Mustang Park

• Palencia

• Pine Prairie

• Reserve at Charles Place

• Sorrel Fairview

• The Ashmore at Horizon North

• The Cortona Gardens & Lofts

• The Domaine

• The Emory at Horizon North

• Thornbury at Chase Oaks

UNRIVALED EXPERIENCE IN MCKINNEY, FRISCO, PLANO, FAR NORTH DALLAS

Compensation system – all brokers work as a team since compensation is a “revenue sharing model”; all brokers

participate in the fees; every broker is motivated to close the deal

Great mix of ages and complementary strengths to capitalize on different relationships of major buyers

Newmark Knight Frank has the market knowledge, track record, and experience to most effectively convey the sale storyWe have all the tools and knowledge to provide

buyers with a road map to maximize value

Newmark Knight Frank has extensive Class A multifamily experience selling 73 ‘A’ assets since 2014

Deepest bench strength of any brokerage firm in the Dallas-Fort Worth Metroplex

Access to international buyers /capital

Newmark Knight Frank has the capacity to utilize 100% focus of the entire brokerage team

WHY NEWMARK KNIGHT FRANK?

BRIAN O’BOYLE, CCIM • Vice ChairmanBrian O’Boyle, Sr. is the Vice Chairman and was the Founder and Managing Broker of the Dallas office as well as a partner in the Austin, Oklahoma, and Washington, DC offices prior to their purchase by Newmark Grubb Knight Frank in 2014. He has 35+ years of experience in real estate, specializing exclusively in the brokerage of multihousing projects and land. He holds the CCIM designation and in November 2002 was presented the Stemmons Service Award by the North Texas Commercial Association of Realtors. Brian is also the recipient of the “Heavy Hitters Award”, given by the Dallas Business Journal to the #1 Investment Broker in the Metroplex. He received this award twice and has received “special recognition” status nine additional times. Last year Brian was awarded the 2015 Broker of the Year award by D CEO magazine as well as the Top Broker in the multifamily category of the Dallas Business Journal’s 2015 Best Real Estate Deals program. Since 1995 Brian has personally been involved in multifamily and land transactions totaling in excess of $13.9 billion. Brian holds a Bachelor of Business Administration degree from Ohio University.

CHRIS COLOMBE • Managing DirectorChris has over 30 years of experience as a land broker in Texas. His expertise in land has resulted in the sale of thousands of acres in the Dallas-Fort Worth metro, Austin, Houston, and many other areas of Texas. Chris has also brokered many types of real estate throughout his career including multifamily units, office buildings, industrial buildings, retail centers and pad sites, single-family land, and farms and ranches. His focus on multifamily came about through various developers asking for assistance in site selection. This focus has resulted in the sale of over 23,000 multifamily (land) units throughout his career. This track record of successful closings has resulted in a large and diverse client base as well as a reputation as a multifamily expert in Texas. Chris’s knowledge of zoning and development guidelines over the years adds to the expertise required to navigate through the city.

CHASE CONWAY • Transaction Manager

Chase joined ARA Newmark in 2014 to partner in the land division and comes to ARA Newmark with six+ years of experience in investment sales and multifamily development. Chase has served an integral role in the successful transaction of over $150 million in raw land and redevelopment sites, with an estimated improved value of over $500 million. Chase is involved with all aspects of the sales cycle including marketing, research, and lead generation. He is responsible for servicing current and new accounts and works with internal departments to manage acquisition and disposition transactions, all while fostering client relationships and promoting business growth. He received his Bachelor of Arts with a minor in Business Administration from the University of Texas at Austin.

M U L T I H O U S I N G I N V E S T M E N T S E R V I C E S

Atlanta • Austin • Boca Raton • Charlotte • Chicago

Columbus • Dallas • Dayton • Denver • Emeryville • Houston

Los Angeles • Jacksonville • Kansas City • Las Vegas

Little Rock • Memphis • Nashville • Norfolk • Oklahoma City

Orlando • Palo Alto • Phoenix • Portland • Raleigh-Durham

Reno • Richmond • Sacramento • San Francisco

Seattle • Tampa • Tulsa • Washington, DC • Wichita

www.aranewmark.com© 2018 Newmark Knight Frank, All Rights Reserved

Multifamily Capital Markets14114 Dallas Parkway | Suite 520 Dallas, TX 75254 972-934-3400 | main 972-239-4829 | faxwww.aranewmark.com

Brian O’Boyle, Sr., CCIM 214-420-3113 [email protected]

Chris Colombe 214-420-3102 [email protected]

Documents

OLD HICKORY TRAIL Premier Development … › d2 › TdHPFTxdOfXydsh861xnZk1...OLD HICKORY TRAIL Premier Development Opportunity in Dallas, Texas AD Red Bird Mall Y TRAIL Methodist