NNN Century Hills, LLC

Available for §1031 exchange w llc investment Information

Offering Purchase Price: $24,335,000

Offering Price Per SF: $121,675

  • Purchase Date: 2nd Quarter, 2007
  • Offering LTV: 64.72%
  • Offering Price Cap Rate: 6.10%
  • 1st Year Cash Flow:6.24%

Century Hills is a 200-unit Class A apartment community in Augusta, the second largest city in the state of Georgia. Located on nearly 17 acres, the approximately 221,000-square-foot property includes eight residential buildings and a separate building that houses the community’s leasing center and clubhouse.

Available for §1031 exchange w llc investment

Century Hills provides a spacious average unit size of 1,105 square feet and offers many high-end unit features, including large gourmet kitchens, nine-foot vaulted ceilings with crown molding and garages with the rental of select units, and garages.

Property Summary

Century Hills is a 200-unit Class A apartment community in Augusta, the second largest city in the state of Georgia. Located on nearly 17 acres, the approximately 221,000-square-foot property includes eight residential buildings and a separate building that houses the community’s leasing center and clubhouse. Century Hills provides a spacious average unit size of 1,105 square feet and offers many high-end unit features, including large gourmet kitchens, nine-foot vaulted ceilings with crown molding and garages with the rental of select units, and garages. Community amenities include a resort-style swimming pool with sun deck, gated access, and lighted tennis courts. Century Hills enjoys ready access to Interstate 20 and all of the Augusta metropolitan area. Built in 2000, the property is approximately 96 percent occupied, and features a generous parking ratio of 2.4 spaces per unit.

TIC Offering

  • Offering Size: $8,585,000
  • Price Per 1% Ownership: $85,850equity: $157,500   and assumed debt
  • Minimum Investment per SPE: 3.00% =$257,550 equity and $472,500 assumed debt for a total purchase price of $730,050
  • Suitability: Accredited Investors Only

LLC Offering

  • Offering Size: $429,250
  • Price Per Unit: $5,000
  • Minimum Investment: $25,000
  • Suitability: Accredited investors only

Business Plan

  • Preserve the capital investment.
  • Realize income through the acquisition, operation and sale of the
    property.
  • Make monthly distributions, which may be partially tax-deferred as a result of depreciation and amortization expenses.
  • Within approximately five years, profitably sell the property based on the value added through effective management and operation of the property.
  • There is no guarantee that the business plan will be successfully executed, that the property’s value will be enhanced, or that the property will be sold within the planned time period.
  • There can be no assurances that the Property Manager will be able to renew expiring leases or lease vacant spaces in the Property.
  • The Manager does not currently own the Property nor has the Manager contracted to purchase the Property; therefore, no assurance can be given that the Company will acquire the Property.

Unit Amenities

  • Nine-Foot Vaulted Ceilings with Crown Molding
  • Large Decks and Sun Rooms
  • Designer Wall Covering in Kitchen and Baths
  • Large Gourmet Kitchens
  • Spacious Walk-In Closets

Community Amenities

  • Expansive Clubhouse with Activity Center
  • Resort-Style Swimming Pool with Sundeck
  • Lighted Tennis Courts
  • Fitness Center
  • Executive Business Center
  • Controlled-Access Gates
  • Large Garages

Location Information

Century Hills is located in National Hills, one of Augusta’s most desirable neighborhoods northwest of its downtown. Nestled along the banks of the Savannah River, Augusta is the second largest and oldest city in Georgia. Located in the east central section of the state, Augusta is approximately 150 miles east of Atlanta on Interstate 20. Best known as the host city of the PGA’s Masters® Golf Tournament and the coveted green jacket, Greater Augusta is home to over a half-million and enjoys a vibrant economy. A large industrial base provides employment in the production of medical supplies, pharmaceuticals, chemicals, textiles, and golf carts.

Apartment Market

  • According to REIS, the Augusta apartment market contains 16,863 units in 122 properties and 91% of these properties were completed prior to 2000. New apartment construction has been minimal in the past five years.
  • REIS also reports that average asking rents increased by 1.6% in 2006 and 0.5% in the first quarter of 2007.a
Economic Trends
  • According to Claritas, Inc., the Augusta MSA population has increased 29.8% over the past 25 years, from 363,446 in 1980 to 517,869 in 2005, and is expected to continue growing to approximately 537,000 in 2010.
  • According to the Augusta Metro Chamber of Commerce, over the past five years new and expanding projects in Richmond, Columbia and Burke counties have invested $654 million and created 4,215 new jobs in the area.

ABOUT Triple Net Properties, LLC

Triple Net Properties, LLC has time-tested experience in real estate syndications, acquisitions, development, construction, leasing and property management. Triple Net currently manages a growing portfolio of over 35 million square feet of property in 28 states valued at more than $4.7 billion. Although past performance is no guarantee of future results, Triple Net Properties, LLC has an unparalleled track record and has acquired 256 properties to date. Triple Net and affiliates have sold 93 properties for over $2.1 billion since 2000.

Triple Net Properties, LLC is a wholly-owned subsidiary of NNN Realty Advisors, Inc., a nationwide commercial real estate asset management and services firm.