NB Taylor Bend DST
101 Old Taylor Road, Oxford, MS 38655
Total Offering Price $19,145,000
Total Investor Equity $6,205,000
- Total Loan Amount $12,940,000
- Loan-to-Value 67.59%
- 1st Year Targeted Cash-on-Cash Return 7.25%
- Minimum Investment $50,000
Taylor Bend is a new, 2012-built, Class-A, boutique student housing community within close proximity to the prestigious “Ole Miss” campus.
101 Old Taylor Road, Oxford, MS
Taylor Bend is well-located ¾ of a mile south of Ole Miss, within walking and biking distance; and just a 4-minute drive to campus.
PROPERTY SUMMERY
Nelson Brothers believes Taylor Bend is wellpositioned with excellent fundamentals in a market stabilized by “Ole Miss”—a 166-year old institution with plans for steady inclines in enrollment. The property was built as a condominium and recently repositioned for student housing.
Due to the property’s origins as a condo, it boasts larger sized units, high-end luxurious interiors and a contemporary look that attracts a highly desirable student tenant base.
property Profile
- Year built 2012
- Number of units 96
- Number of beds 288
- Net rentable SF 134,496
- Average SF/unit 1,401
- Market rent/bed/mo $580
- Market rent/sf/mo $1.24
Loan Details
Non-recourse. 10-year loan, 30-year amortization, 3-years interest-only from Prudential. DST structure.
Target Strategy
Nelson Brothers’ target goal is to keep the property well-occupied and profitable by leveraging the historical stability of the University and strengthening the property’s positioning. Nelson Brothers believes the property boasts a unique character – high-end features, large spaces, strategic location – that may be hard to replicate. This character may have tremendous appeal to ideal target markets such as affluent upperclassmen and graduate students.
About University of Mississippi (OLE MISS )
- Founded: 1848
- 2013 Enrollment: 18,423
- Endowment: $462 Million
- NCAA Conference: SEC
- In-state Tuition: $6,200
- Annual Football Revenue: $28 Million
- Notable Alumni: Trent Lott, Thad Cochran, John Grisham, Michael Oher (from the movie “Blindside), Archie Manning, Eli Manning
OXFORD, Miss. – Enrollment at the University of Mississippi surged this fall for the 20th consecutive year, making history with more than 23,000 students across all its campuses for the first time. Preliminary enrollment figures show a total unduplicated headcount of 23,096, largest in the state. That’s up 805 students from last fall, or 3.6 percent. The figures include the largest freshman class ever for any Mississippi university, a class that sports the highest ACT scores and high school GPAs in Ole Miss history….
Old Taylor Road Improvements
Taylor Bend is a short drive, just south of campus, and connected to Ole Miss directly through Old Taylor Road. A recent $6.8 million improvement project on Old Taylor Road is expected to benefit Taylor Bend residents tremendously. This work includes improving the freeway overpass along with the addition of roundabouts on the north and south sides of bridge on Old Taylor Road. The goal of this project is to improve access from Old Taylor Road to campus while reducing traffic; potentially creating a competitive advantage.
ABOUT Nelson Brothers
16B Journey | Aliso Viejo, CA 92656 (800) 580-1031
Current Management Portfolio At-A-Glance:
Founded in 2007, Nelson Brothers specializes in what the firm considers to be well-positioned student housing properties. Headquartered in Orange County, CA, Nelson Brothers manages over $500 million in real estate with more than 100 employees.