FRANKFORT MULTIFAMILY
CONFIDENTIALITY & DISCLAIMER The information contained in the following proposal is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and it should not be made available to any other person or entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Marcus & Millichap. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this proposal has been obtained from sources we believe reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT ANDREWS | DICKMAN FOR MORE DETAILS.
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ADG MULTIFAMILY
PRESENTED BY
TIM VANWINGERDEN
Associate 513-878-7750 tim.vanwingerden@marcusmillichap.com
JORDAN DICKMAN
First Vice President of Investments 513-878-7735 jordan.dickman@marcusmillichap.com
NICK ANDREWS
First Vice President of Investments 513-878-7735 nick.andrews@marcusmillichap.com
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THE ASSET
the table of
CONTENTS
01 page
8
C O M P E T I TO R S
02 page
14
FINANCIALS
03
page
22
LO C A L M A R K E T
04 page
36
ADG MULTIFAMILY
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ADG MULTIFAMILY
CALABASAS, CALIFORNIA | HQ
80+ | OFFICES
2,500 | EMPLOYEES
UNRIVALED SUCCESS IN THE MIDWEST Nick Andrews
First Vice President Investments Director, NMHG
Jordan Dickman
First Vice President Investments Director, NMHG
INVESTMENT ADVISORS
Austin Sum
Senior Investment Associate
Garry Schloemer Investment Associate
JD Schmerge Investment Associate
Brian Johnston Investment Associate
Tim VanWingerden Investment Associate
DEBT & STRUCTURED FINANCE
Chris Litzler
Jim Leonard
Senior Director MMCC
VALUATION & RESEARCH
Sam Petrosino
Financial & Research Analyst
Senior Managing Director of Capital Markets MMCC
CLIENT RELATIONS
Skyler Wilson
Client Relations Manager
MARKETING
Alex Papa
Marketing Coordinator
Kristin Smith Marketing
OPERATIONS
Sidney Bills
Office Administrator
Josh Caruana
Vice President Regional Manager Indianapolis | Cincinnati | Louisville St Louis | Kansas City
Brittany Campbell-Koch Director of Operations
John Sebree
Senior Vice President National Director National Multi Housing Group
Liz Popp
Midwest Operations Manager
Michael Glass
Senior Vice President Midwest Division Manager National Director, Manufactured Home Communities Group
ADG MULTIFAMILY
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01 FRANKFORT section
THE ASSET
30 - property snapshot 32 - location
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FRANKFORT
PROPERTY SNAPSHOT GENERAL INFORMATION Property Address:
1314 – 1316 Chinook Trail
1403 – 1411 Steadmantown
1505 Steadmantown Ln
1315 – 1317 Powahatan Trail
Frankfort, KY 40601
Frankfort, KY 40601
1501 Steadmantown Ln
Frankfort, KY 40601 Submarket:
Frankfort
Frankfort
Frankfort
Frankfort
County:
Franklin
Franklin
Franklin
Franklin
Year Built/Reno:
1960-70
1960-70
1960-70
Property Type (Market Rate, etc.):
Market
Market
Market
Current Ownership:
Lenox Capital LLC
Lenox Capital LLC
Lenox Capital LLC
1960-70 Market Lenox Capital LLC
Current Management:
Lenox Capital LLC
1403 – 1411 Steadmantown Ln
Number Of Units:
48
48
6
6
Avg Unit Size:
756
756
756
756
Rentable Sqft:
36,288
36,288
4,536
4,536
1
1
1
1
0.28
1.29
# of Buildings:
2
1
1
1
# of Stories:
3
3
3
3
Parking Type:
Off-Street
Off-Street
Off-Street
Off-Street
Parking Surface
Surface Lot
Surface Lot
Surface Lot
Surface Lot
Number of Parcels: Lot Size (Acres):
GENERAL INFORMATION 1403 – 1411 Steadmantown
1505 Steadmantown Ln
1501 Steadmantown Ln
Concrete
Concrete
Concrete
Concrete
Wood
Wood
Wood
Wood
Pitched / Replaced 2012
Pitched / Replaced 2012
Pitched / Replaced 2012
Pitched / Replaced 2012
Exterior of Building:
Brick
Brick
Brick
Brick
Windows Age/Pane:
Double Pane | Replaced 2012
Double Pane | Replaced 2012
Double Pane | Replaced 2012
Double Pane | Replaced 2012
Individual Electric HVAC
Individual Electric HVAC
Individual Electric HVAC
Individual Electric HVAC
Copper
Copper
Copper
Copper
Electric:
Tenant
Tenant
Tenant
Tenant
Water
Owner
Owner
Owner
Owner
Sewer
Owner
Owner
Owner
Owner
Trash:
Owner
Owner
Owner
Owner
Property Name:
1314 – 1316 Chinook Trail 1315 – 1317 Powahatan Trail
Construction: Foundation: Framing: Roof Type/Age:
Heating and Cooling Type Wiring:
Utilities:
FRANKFORT
LOCATION
1314 CHINOO
1505 STEADMANTOWN LN 1501 STEADMANTOWN LN
1403 STEADMANTOWN LN
OK TRAIL 1315 POWHATAN TRAIL
WINTHROP COURT
RAVENCREST
FRANKFORT MF
RIVERFORD 14
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02 FRANKFORT section
THE COMPETITIVE SET 36 - rent sort 42 - rent comps
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COMPETITIVE SET
RENT SORT
One Bedroom Apartment Rents Sorted by Net Rent
Year Built
Unit Type
# Units
SF
Market Rent
Util Adj
Net Rent
Net Rent/SF
Riverford Crossing Apartment
2010
1x1
300
750
$998.00
$55
$943
$1.26
Prince Hall Village
1970
1x1
100
654
$892.00
$80
$812
$1.24
River View Apartments Renovat-
1973
1x1
126
632
$725.00
$15
$710
$1.12
Winthrop Court
1981
1x1
77
576
$715.00
$55
$660
$1.15
Willowood Apartments
1983
1x1
110
600
$702.00
$55
$647
$1.08
Raven Crest Apartments
1973
1x1
142
510
$685.00
$55
$630
$1.24
Eastwood Gardens Apartments
1963
1x1
88
750
$715.00
$85
$630
$0.84
Country Hill Apartments
1976
1x1
102
750
$681.00
$55
$626
$0.83
1960-70
1x1
108
695
$675.00
$55
$620
$0.89
River View Apartments not reno-
1973
1x1
126
632
$661.00
$55
$606
$0.96
Fieldstone at Frankfort
1965
1x1
126
625
$640.00
$55
$585
$0.94
1325 Powhatan
1970
1x2
44
750
$575.00
$0
$575
$0.77
1960-70
1x1
108
652
$489.00
$55
$434
$0.67
Hickory Hills Manor
1974
1x1
101
672
$418.00
$55
$363
$0.54
Averages
1976
661
$684
$56
$632
$0.97
Property
Frankfort Pro Forma
Frankfort Average Effective
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Two Bedroom Apartment Rents Sorted by Net Rent Property
Riverford Crossing Apartment
Year Built
Unit Type
# Units
SF
Market Rent
Util Adj
Net Rent
Net Rent/SF
2010
2x2
300
1111
$1,214.00
$65
$1,149
$1.03
2x1
100
782
$1,005.00
$100
$905
$1.16
Prince Hall Village Raven Crest Apartments
1973
2x1
142
888
$885.00
$65
$820
$0.92
River View Apartments Renovat-
1973
2x1
126
750
$825.00
$15
$810
$1.08
Eastwood Gardens Apartments
1963
2x1
88
900
$865.00
$105
$760
$0.84
Fieldstone at Frankfort
1965
2x1
126
795
$860.00
$105
$755
$0.95
Country Hill Apartments
1976
2x1
102
921
$816.00
$65
$751
$0.82
Chinook Quadplexes
1974
2x1
20
700
$750.00
$0
$750
$1.07
Winthrop Court
1981
2x1
77
864
$800.00
$65
$735
$0.85
Willowood Apartments
1983
2x1
110
900
$799.00
$65
$734
$0.82
1960-70
2x1
108
850
$775.00
$65
$710
$0.84
1325 Powhatan
1970
2x1.5
44
1000
$700.00
$0
$700
$0.70
Austin Park and Clay Villa
1998
2x1
68
800
$752.00
$65
$687
$0.86
1960-70
2x1
108
850
$569.00
$65
$504
$0.59
Hickory Hills Manor
1974
2x1
101
748
$518.00
$65
$453
$0.61
Averages
1978
857
$809
$70
$748
$0.88
Frankfort Pro Forma
Frankfort Average Effective
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COMPETITIVE SET
RIVERFORD
8000 John Davis Dr. Frankfort, KY PROPERTY SUMMARY
300
UNITS
2017
YEAR BUILT UNIT MIX & RENT SCHEDULE UNIT TYPE
RENT
SF
RENT PER SF
1x1
$998
750
$1.26
2x2
$1,214
1111
$1.03
Common Amenities: Clubhouse Picnic Area Fitness Center Pool Furnished Units Available
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ADG MULTIFAMILY
Unit Features: Air Conditioning Refrigerator Carpet Tub/Shower Heating Walk-In Closets Kitchen Washer/Dryer
COMPETITIVE SET
RAVEN CREST
3201 Georgetown Rd. Frankfort, KY PROPERTY SUMMARY
142
UNITS
1973
YEAR BUILT UNIT MIX & RENT SCHEDULE UNIT TYPE
RENT
SF
RENT PER SF
1x1
$785
510
$1.43
2x1
$885
888
$0.92
Common Amenities: Laundry Facilities
Unit Features: Balcony Tub/Shower Dining Room Walk-In Closets Fireplace Washer/Dryer Hookup Patio
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COMPETITIVE SET
WINTHROP COURT
720 Ridgeview Dr. Frankfort, KY PROPERTY SUMMARY
77
UNITS
1981
YEAR BUILT UNIT MIX & RENT SCHEDULE UNIT TYPE
RENT
SF
RENT PER SF
1x1
$715
576
$1.15
2x1
$800
864
$0.85
Common Amenities: Furnished Units Available Property Manager on Site Laundry Facilities Storage Space Package Service
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ADG MULTIFAMILY
Unit Features: Air Conditioning High Speed Internet Access Balcony Kitchen Cable Ready Range Carpet Storage Space Ceiling Fans Sunroom Dining Room Tub/Shower
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03 FRANKFORT section
THE FINANCIALS
24 - investment highlights 26 - renovation scope 28 - unit mix 30 - income and expenses ADG MULTIFAMILY
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INVESTMENT HIGHLIGHTS
FRANKFORT MULTIFAMILY
FRANKFORT, KY
Marcus & Millichap is pleased to present Frankfort MF, a portfolio of 108-units in Frankfort, KY. Located a few miles from the Jim Bean plant, this is an excellent value-add opportunity for the experienced investor. Currently, 48 / 108 units have been renovated with the remaining units underway. Once complete, an incoming investor can draft rents from the local submarket and recapitalize for strong cashflow and market growth.
1 BEDROOM
2 BEDROOM
24 Units $490 Rent
24 Units $654 Rent
108 TOTAL UNITS
1997 YEAR BUILT ($270,927) CURRENT NOI
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NON REVENUE UNITS
NON REVENUE UNITS
48 Units
12 Units
1 BEDROOM
756 SF AVERAGE UNIT SIZE
$544 AVERAGE RENT $416,911 PROFORMA NOI
2 BEDROOM
69% OCCUPANCY
VALUE-ADD OPPORTUNITY This is a great value-add opportunity to turn online units and remodel remaining units with an estimated budget of $20,000 / unit.
HIGH CASH FLOW AND APPRECIATION The forced appreciation from renovation will provide an opportunity for recapitalization generating high cash flows in a workforce property that is historically recession-resistant with minimum rental volatility.
MARKET PROVEN RENTS Recent trades in the local market signal a strong runway for growth. Currently 3 out of 10 complexes studied are undergoing renovations and pushing rents $150 from current market rents. This will provide excellent opportunity for the Frankfort MF Portfolio to draft rents from the local submarket and provide an affordable option.
LEXINGTON’S BEDROOM COMMUNITY
Over 50% of the Lexington workforce commutes from outside Lexington. Frankfort is approx. 25 minutes to Lexington, attracting the price-sensitive tenant.
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FRANKFORT
RENOVATION SCOPE
Renovation scope for this heavy value-add opportunity requires an estimated $20,000/unit to bring these units online and draft fully remodeled rents from competition. Building
No of Units
1314-1316 Chinook Trail 1315-1317 Powahatan Trail 1403-1405 Steadmantown Lane 1409-1411 (1409) Steadmantown Lane 1409-1411 (1411) Steadmantown Lane 1501 Steadmantown Ln 1505 Steadmantown Ln Exteriors Exteriors *See Unit Condition Report Attached
TOTAL
24 24 24 12 12 6 6
Status
Online Unit Turn Offline Full gut and remodel. Online Unit Turn full remodel Plumbing, full remodel Install interior materials, flooring, paint install inerior materials, flooring, paint, trim Landscaping Repave Parking Contigency
$2,160,000 26
ADG MULTIFAMILY
Renovation Scope
$ Per Unit
$ Per Building
5,000 35,000 5,000 22,000 25,000 6,500 12,000
$120,000 $840,000 $120,000 $264,000 $300,000 $78,000 $144,000 $25,000 $100,000 $169,000
AVG $ PER UNIT
$20,000
ntown l n steadm a
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FRANKFORT- UNIT MIX SUMMARY Summary
PROJECTED
MARKET
AVERAGE EFFECTIVE
Rentable
Total
Units
SF
SF
One Bedroom
72 Units
700 SF
50,400 SF
$489.71
$0.70
$35,259
$550.00
$0.79 SF
$39,600
$675.00
$0.96 SF
$48,600
Two Bedroom
36 Units
867 SF
31,225 SF
$654.24
$0.75
$23,553
$706.94
$0.82 SF
$25,450
$775.00
$0.89 SF
$27,900
Totals / Wtd. Averages
108 Units
756 SF
81,625 SF
$544.55
$0.72 SF
$58,811
$602.31
$0.80 SF
$65,050
$708.33
$0.94 SF
$76,500
Unit Type
Total Rent Rent/Unit Rent/SF
Potential
Total Rent Rent/Unit Rent/SF
Potential
Total Rent Rent/Unit Rent/SF
Potential
Summary
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ADG MULTIFAMILY
UNIT MIX BREAKDOWN MARKET
AVERAGE EFFECTIVE
One Bedroom
No. of
Rentable
Total
Unit Type
Units
SF
SF
Rent/Unit
Rent/SF
Potential
1BR/1BA
72 Units
700 SF
50,400 SF
$489.71
$0.70 SF
$35,259
$550.00
Totals / Wtd. Avgs
72 Units
700 SF
50,400 SF
$489.71
$0.70 SF
$35,259
$550.00
Two Bedroom
No. of
Rentable
Total
Unit Type
Units
SF
SF
Rent/Unit
Rent/SF
Potential
2BR/1BA - A
23 Units
850 SF
19,550 SF
$567.50
$0.67 SF
$13,053
2BR/1BA - B
1 Units
875 SF
875 SF
$600.00
$0.69 SF
$600
12 Units 36 Units
900 SF 867 SF
10,800 SF 31,225 SF
$825.00 $654.24
$0.92 SF $0.75 SF
$9,900 $23,553
2BR/1BA - C Totals / Wtd. Avgs
Total Rent
PROJECTED
Total Rent Rent/Unit Rent/SF
Total Rent
Potential
Rent/Unit
Rent/SF
Potential
$0.79 SF
$39,600
$675.00
$0.96 SF
$48,600
$0.79 SF
$39,600
$675.00
$0.96 SF
$48,600
Total Rent
Total Rent Rent/Unit Rent/SF
Total Rent
Potential
Rent/Unit
Rent/SF
Potential
$14,950
$775.00
$0.91 SF
$17,825
$600.00 $0.69 SF
$600
$775.00
$0.89 SF
$775
$825.00 $0.92 SF $706.94 $0.82 SF
$9,900 $25,450
$775.00 $775.00
$0.86 SF $0.89 SF
$9,300 $27,900
$650.00
$0.76 SF
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GROSS POTENTIAL RENT All Units at Market Rent Gain (Loss) to Lease GROSS SCHEDULED RENT Application Fees
INCOME
FINANCIAL BREAKDOWN
Current
Total Other Income
GROSS POTENTIAL INCOME Physical Vacancy Non-Revenue Units Bad Debt Concessions Allowance EFFECTIVE GROSS INCOME
EXPENSES
Non-Controllable Real Estate Taxes 2020 Taxes Paid Adjustment for Sale Total Real Estate Taxes Insurance
Utilities Gas, Water, & Electric Trash Removal Total Utilities Total Non-Controllable Controllable Contract Services Security Expense Snow Removal Landscaping/Grounds Pest Control Total Contract Services
% of GPR
$780,600 ($74,865) $705,735 $75
9.59%
T5
$75 $705,810 ($87,600) ($541,200) $0 $0 $77,010
0.01% 0.01% 12.41% 76.69% 0.00% 0.00% 1.31%
$33,937 $5,530 $39,467 $83,812
Note 2 Note 2
$0 $0 $0 $0 $0
$918,000 ($45,900) $872,100 $88
1 6,535 (811) (5,011) 0 0 713
$88 $872,188 ($43,605) ($218,025) ($17,442) ($26,163) $566,953
% of GPR
15.51% 0.00% 15.51% 42.07%
$11,945 $17,566 $29,512 $32,400
44.07% 7.18% 51.25% 108.83%
314 51 365 776
$64,800 $5,641 $70,441 $132,352
0.00% 0.00% 0.00% 0.00% 0.00%
0 0 0 0 0
100.44% 0.31% 144.32% 26.34% 27.41% 5.00% 3.39% 35.76% 342.97%
5.00% 0.01% 0.01% 5.00% 25.00% 2.00% 3.00% 60.00%
Per Unit 8,500 (425) 8,075 1 1 8,076 (404) (2,019) (162) (242) 5,250
2.11% 3.10% 5.21% 5.71%
Per Unit 111 163 273 300
11.43% 0.99% 12.42% 23.34%
600 52 652 1,225
$2,700 $3,780 $16,200 $3,780 $26,460
0.48% 0.67% 2.86% 0.67% 4.67%
25 35 150 35 245
716 2 1,029 188 195 36 24 255 2,446
$64,800 $5,400 $118,800 $16,200 $16,200 $28,348 $2,700 $28,091 $306,998
11.43% 0.95% 20.95% 2.86% 2.86% 5.00% 0.48% 4.95% 54.15%
600 50 1,100 150 150 262 25 260 2,843
% of EGI
Note 4
Repairs & Maintenance Marketing & Promotion Payroll Payroll Taxes & Benefits General & Administrative Management Fee Telephone & Internet Replacement & Reserves Total Controllable
$77,350 $240 $111,139 $20,286 $21,106 $3,851 $2,613 $27,540 $264,125
TOTAL EXPENSES
$347,937
451.81%
3,222
$439,351
77.49%
4,068
($270,927)
-351.81%
(2,509)
$127,603
22.51%
1,182
NET OPERATING INCOME
Note 2 Note 2 Note 2 Note 2 Note 2
Per Unit 7,228 (693) 6,535 1
Per Unit 111 0 111 300
% of EGI
$11,945 $0 $11,945 $32,400
Year 1
(Recapture LTL, Stabilized Occupancy and Other Income, Normalized Expenses, Start Reno)
Note 3 Note 2
Note 1
Year 2 % of GPR
$945,540 ($18,911) $926,629 $91 $91 $926,720 ($46,331) $0 ($18,533) $0 $861,856
2.00% 0.01% 0.01% 5.00% 0.00% 2.00% 0.00% 91.00%
Year 3
Per Unit 8,755 (175) 8,580 1
$973,906 ($19,478) $954,428 $94
1 8,581 (429) 0 (172) 0 7,980
$94 $954,522 ($47,721) $0 ($19,089) $0 $887,712
% of GPR
2.00% 0.01% 0.01% 5.00% 0.00% 2.00% 0.00% 91.00%
Per Unit 9,018 (180) 8,837 1 1 8,838 (442) 0 (177) 0 8,220
$11,945 $17,566 $29,512 $33,048
1.39% 2.04% 3.42% 3.83%
Per Unit 111 163 273 306
$66,096 $5,753 $71,849 $134,409
7.67% 0.67% 8.34% 15.60%
612 53 665 1,245
$67,418 $5,868 $73,286 $136,507
7.82% 0.68% 8.50% 15.84%
624 54 679 1,264
$2,754 $3,856 $16,524 $3,856 $26,989
0.32% 0.45% 1.92% 0.45% 3.13%
26 36 153 36 250
$2,809 $3,933 $16,854 $3,933 $27,529
0.33% 0.46% 1.96% 0.46% 3.19%
26 36 156 36 255
$66,096 $5,508 $121,176 $16,524 $16,524 $43,093 $2,754 $28,653 $327,317
7.67% 0.64% 14.06% 1.92% 1.92% 5.00% 0.32% 3.32% 37.98%
612 51 1,122 153 153 399 26 265 3,031
$67,418 $5,618 $123,600 $16,854 $16,854 $44,386 $2,809 $29,226 $334,294
7.82% 0.65% 14.34% 1.96% 1.96% 5.00% 0.33% 3.39% 38.64%
624 52 1,144 156 156 399 26 271 3,083
$461,726
53.57%
4,275
$470,801
54.63%
4,359
$400,130
46.43%
3,705
$416,911
48.37%
3,860
% of EGI
$11,945 $17,566 $29,512 $33,709
1.39% 2.04% 3.42% 3.91%
Per Unit 111 163 273 312
% of EGI
32
ADG MULTIFAMILY
04 FRANKFORT section
THE MARKET
34 - local market highlight 36 - higher education
ADG MULTIFAMILY
33
LOCAL MARKET HIGHLIGHTS
LEXINGTON, KY Lexington, known as the Horse Capital of the World, is centrally population. Anchored by the University of Kentucky, Lexington boasts a young, diverse, and educated worforce.
EMERGING TECH HUB
Metronet has invested over $100 million in fiberoptic infrastructure making Lexington the largest Gigabit city in the nation. The city’s highspeed infrastructure along with its low cost of living provides 1.54 times the purchasing power compared to Silicon Valley attracting talented tech professionals and startups alike.
A CITY WITH HIGH DEMAND
Protected farmland accounts for 30,000 acres of Lexington, which limits the amount of new development driving a strong and consistent demand for housing. Year-over-year development can’t keep up with housing needs, which has boosted growth in surrounding counties and increased home and rent prices.
DEMOGRAPHICS
34
ADG MULTIFAMILY
Population Median Age Median Household Income
323,152 35 $54,896
# of Households # of retail buildings
131,000 1,703
LOCAL HIGHLIGHTS • Home to America’s world famous Kentucky Horse Park. • The famous Keeneland racecourse is located within Lexington. • Home to Aviation Museum • University of Kentucky was founded in lexington in 1916.
ADVANCED MANUFACTURING
HORSE COUNTRY
The Bluegrass Region boasts a strong manufacturing sector specifically in the automotive, biotechnology and renewable energy machinery. The region’s transportation network allows easy import and export of materials and finished product. Research and development activities in Lexington support this sector to enhance product lines.
The horsing industry is at the heart of Lexington’s culture and a core segment of its economy. The University of Kentucky is a leader in animal science research. UK’s Ag Equine program serve as a valuable research partner for many of Lexington’s equine companies.
AGRICULTURAL FOCUS Agriculture plays a strategic role in the development of the American economy and in Lexington, the agriculture industry is nearly 50% larger than the national average. Bolstered by UK’s robust Agriculture, Food and Environment research center, Agriculture in Lexington will continue to thrive for years to come. ADG MULTIFAMILY
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LEXINGTON
HIGHER EDUCATION Founded in 1865, the University of Kentucky is a single campus at the heart of the Blue-grass. More than 100 countries are represented in the student body at UK. UK has over 200 academic programs and last spring, there were 29,182 students enrolled. With more than 12,000 staff and 2,000 faculty, UK is one of the largest employers in the state.
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ADG MULTIFAMILY
UNIVERSITY OF KENTUCKY SPORTS In an extensive study conducted by the Associated Press and then revealed in 2017, the University of Kentucky men’s basketball program was rated as the greatest of its kind ever. Certainly, more current NBA players have emerged from the Wildcats’ ranks than from any other college team, with DeMarcus Cousins, John Wall, and Anthony Davis just some of the University of Kentucky’s former stars. The Wildcats also clinched the NCAA Division I Men’s Basketball Tournament in 2012 and have progressed to the men’s Final Four on four occasions since 2011
ADG MULTIFAMILY
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