THE OPPORTUNITY

Matthews Real Estate Investment Services™ is pleased to present this offering of the Harvest Hills & Breckenridge Apartments Portfolio. Nestled along the Tennessee River, this portfolio consists of 162 units in the heart of the Shoals, with 120 units at Breckenridge and 42 units at Harvest Hills. With the owner willing to finance the assets at 4% interest-only for the first 2 year of the hold-term, and both complexes being strategically located roughly a mile away from each other, it creates a unique opportunity to acquire economies of scale in one of the most notable emerging markets in Northern Alabama.

The MSA is home a mix of manufacturing, service industries, retail, medical and financial institutions that give it its stability and strength. It also boasts a strong unemployment rate of 3.5%, below the national average of 3.8%. According to Forbes, Florence has a gross domestic product of $5.8 billion and a cost of living 10% below the national average. These factors make it a business-friendly environment and affordable option for young professionals, making it an attractive market to reside in.

The MSA is also home to the University of Northern Alabama. Being the state’s oldest public university, it’s been a key university within the state for over 185 years and hosts a variety of opportunities for entrepreneurs, scientists, educators, and other careers. Occupying a 130-acre campus in a residential section of Florence, UNA is located within a four-city area that also includes Tuscumbia, Sheffield, and Muscle Shoals. The University has over 170 Majors and Concentrations, 8,300 enrolled students, and 60,000 alumni.

With both assets being mid-2000’s vintage, organic upside potential via our rental comp set, and Owner Financing offered at 4% interest, this portfolio provides a unique opportunity to acquire a critical mass of units with a very clear path to increasing the NOI within Year 1.