Issuu

#1 MARKET FOR MANUFACTURING GROWTH IN THE U.S

AVON DA L E C O M M ON S A P A R T M E N T S

5TH LARGEST CIT Y IN THE UNITED STATES

PHOENIX, AZ

324 UNITS

2025 BUILT

FULLY BUILT| CLASS A MULTIFAMILY A RARE OPPORTUNITY TO INVEST ABOVE THE CAPITAL STACK

+13.4% NEIGHBORHOOD AVG. ANNUAL RENT TRENDS (OVER LAST 5 YEARS)

V I K I N G CA P L LC .C O M A PREMIUM INVESTMENT OFFERING: ACCREDITED INVESTORS ONLY V I K I N G

C A P I T A L

D I S C L O S U R E S This presentation is for informational purposes only and does not constitute an offer to sell or a solicitation to purchase any security. Any offering is made only through the applicable Private Placement Memorandum (PPM), subscription documents, and related offering materials. Investments involve risk, including the possible loss of principal. There is no guarantee of returns, distributions, or investment objectives. Any projected, targeted, or estimated returns are forward-looking statements and are not guarantees of future performance. Real estate investments are illiquid and may not be suitable for all investors. Preferred equity investments are subordinate to senior debt and involve additional risks. Past performance is not indicative of future results. Tax, legal, and retirement account information provided is for educational purposes only. Investors should consult their own professional advisors. Investing through a self-directed IRA involves specific rules and requirements. Investors should consult their custodian and advisors before investing. Please review all offering documents carefully and conduct your own due diligence prior to making any investment decision. The material contained in this Offering Memorandum is confidential, furnished solely for the purpose of considering an investment in the Property and is not to be used for any other purpose or made available to any other person without the written consent of Viking Capital LLC. The material has been obtained from sources Viking Capital deems to be reliable; however, Viking and its affiliates make no representations or warranties regarding the accuracy or completeness of this material. Among other considerations, prospective investors should recognize that this Offering Memorandum contains forward-looking statements (including projections as to construction schedules and costs, operating results, and economic trends), all of which are inherently speculative and many of which are based on future events not within the control.

V I K I N G

C A P I T A L

MEET OUR TEAM

Vikram Raya

CEO, Founder

Dr. Vikram Raya is an experienced investment strategist, entrepreneur, and capital markets leader with over a decade of experience sourcing and scaling institutional-grade real estate investments. As a Co-Founder, he leads the firm’s investment strategy, capital deployment, and strategic partnerships across high-growth, supply-constrained markets. A Georgetown University graduate, Vikram brings a disciplined, performancedriven approach to the full investment lifecycle, from market selection and operator diligence to fund design and investor alignment. Since founding, he helped grow Viking Capital into a nationally recognized multifamily platform, acquiring over $1 billion in assets, managing more than 5,000 units, and raising over $250 million in equity.

Chris Parrinello SVP, Capital Markets & Head of Investor Relations

Chris Parrinello is a capital markets executive focused on institutional capital formation, portfolio construction, and long-term investor alignment within private real estate. As Senior Vice President of Capital Markets and Head of Investor Relations at Viking Capital, he leads capital strategy and investor engagement, working closely with RIAs, family offices, and high-net-worth investors to integrate multifamily real estate into diversified portfolios. His approach emphasizes risk-adjusted returns, capital stack structuring, and transparency throughout the investment lifecycle. Chris has raised over $350 million in private capital and played a key role in scaling Viking Capital’s investor platform to more than 1,100 investors, supporting the firmʼs growth and institutional positioning. He is an active contributor within the investment community, frequently speaking on alternative asset allocation, capital markets strategy, and the role of private real estate in modern portfolio construction. V I K I N G

C A P I T A L

ABOUT VIKING CAPITAL

2015 YEAR FOUNDED

6,522 TOTA L U N I T S AC Q U I R E D

$1.02B

Viking Capital is a multifamily real estate-focused investment firm. The original and institutional holding company for Viking Capital was established in 2015 and was created to serve the unique needs of institutional partners, family offices, high-net-worth investors, and advisory groups seeking access to high-performing multifamily investments. Viking Capital focuses on acquiring, developing, and optimizing highquality multifamily communities in growth markets throughout the United States. The firm’s strategy is rooted in disciplined market selection, operational precision, and a long-term commitment to quality—delivering consistent value to investors and an elevated standard of living for residents. By combining institutional rigor with community-forward thinking, Viking fosters sustainable, income-producing assets designed to outperform across market cycles.

C U M U L AT I V E AU M

V I K I N G

C A P I T A L

CYCLE-TESTED PERFORMANCE Viking Capital is a multifamily investment firm focused on disciplined execution, risk management, and long-term value creation across different market cycles.

6,522

Units

TOTA L U N I T S AC Q U I R E D

7,000 6,500 6,000 5,500 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 200 0

Rates & Supply

DFW SAN ANTONIO

Economic Downturns

PHOENIX

NASHVILLE

ATLANTA

COVID-19

HOUSTON SAN ANTONIO SOUTH BEND WASHINGTON, DC DALLAS AUSTIN ATLANTA

2015

2017

2018

2020

2021

2022

2023

2024

2025 V I K I N G

C A P I T A L

Viking Capital’s Track Record Disclaimer: This track record reflects all Viking Capital exits and corresponding performance metrics to date. While these results were achieved during a historically favorable period for multifamily dispositions, they demonstrate the firm’s disciplined execution, value creation, and successful realization strategies. Past performance was influenced by market conditions and is not necessarily indicative of results in the current or future economic environment. Please note that all properties marked with an asterisk () represent joint venture partnerships.*

Exit Date

Units

Projected Hold Period (Yrs)

Hold Purchase Period Price (Yrs)

Sale Price

Total Cap.

Deal Name

Location

Acq. Date

Projected IRR

Realized IRR

Projected CoC

Realized CoC

Projected EM

Realized EM

Reserve at Walnut Creek*

Austin, TX

2019

2022

284

$36.3M

$46.825M $40.615M $15.75M $24.865M 68.50%

15%

27.90%

8.27%

7.20%

2.37x

2.14x

19.61%

35.20%

Estates at Las Colinas*

Dallas, TX

2019

2022

415

$61.75M

$79.19M

$65.175M

$19M

$46.3M

75%

19.80%

22.20%

2.27x

1.73x

25.30%

25%

The Avery*

Dallas, TX

2017

2022

304

$40.8M

$59.25M

$43.78M

$15M

$30.6M

75%

18%

19.20%

8.70%

5.50%

2.1x

1.9x

22%

21.60%

Ascent at Riverdale I

Atlanta, GA

2017

2019

118

$4.125M

$6.732M

$5.9M

$1.95M

$3.3M

80%

17.85%

34.70%

9.50%

2.03x

1.76x

22.64%

38%

Wildcreek*

Atlanta, GA

2015

2018

242

3.25

$15.3M

$20.963M

$16.6M

$5.75M

$11.475M

75%

20.67%

15.20%

9.16%

9.12%

2.03x

1.65x

20.70%

20%

Hills at East Cobb*

Atlanta, GA

2018

2021

268

$33.25M

$39M

$35.6M

$9.4M

$26.2M

79%

16.50%

4.80%

8.38%

7.83%

2.09x

1.1x

21.91%

3.30%

Villas of South Cobb I*

Atlanta, GA

2016

2018

188

2.5

$12.4M

$15.32M

$14.22M

$4.3M

$9.92M

80%

17.80%

25.10%

8.80%

8.13%

2.01x

1.48x

20.20%

19%

Villas of South Cobb II*

Atlanta, GA

2016

2019

152

2.5

$10.25M

$13.35M

$12M

$4.313M $7.687M

75%

17.20%

25.30%

8.90%

8.18%

2.03x

1.48x

20.73%

19%

Equity

Debt

LTV

Projected Realized AAR AAR

V I K I N G

C A P I T A L

CURRENT PROPERTIES

OPEN RAISE AVONDALE COMMONS

Property Details

Asset Class

Avondale, AZ

2025

Year Constructed

324

No. of Units

OPEN RAISE PEORIA GATEWAY

Property Details

Asset Class

Atlanta MSA, GA

1988

Year Constructed

188

No. of Units

ELEVATE ON MAIN

Property Details

B+

Asset Class

South Bend, IN

2000

Year Constructed

400

No. of Units

2026

Year Constructed

Asset Class

ELEVATE AT STEWARTS MILL

Property Details

Phoenix, AZ

200

No. of Units

PARK 33

Property Details

B+

Asset Class

2018

188

No. of Units

ELEVATE WOODSTOCK

Property Details

Asset Class

Atlanta, GA

1986

Year Constructed

Property Details

Asset Class

Nashville, TN

1985

Year Constructed

232

No. of Units

ELEVATE GREENE

South Bend, IN

Year Constructed

THE HAMILTON PREMIER APARTMENTS

120

No. of Units

Property Details

Asset Class

Atlanta, GA

2005

Year Constructed

252

No. of Units

AVONDALE HILLS

Property Details

Asset Class

B+

Asset Class

Stockbridge, GA

1999

Year Constructed

368

No. of Units

2022

Year Constructed

240

No. of Units

Property Details

Asset Class

ELEVATE EAGLE’S LANDING

Property Details

B+

Asset Class

MARBELLA PLACE

Property Details

Atlanta MSA, GA

THE TOWNHOMES AT BLUEBONNET TRAILS

Atlanta, GA

2006

Year Constructed

176

No. of Units

Asset Class

Washington, DC

2010

Year Constructed

2020-2021 Year Constructed

114

No. of Units

Asset Class

Houston, TX

2007

Year Constructed

No. of Units

Property Details

Asset Class

192

No. of Units

Marietta, GA

1980

Year Constructed

AUSTIN/ SAN ANTONIO TX

2012

Year Constructed

Asset Class

252

No. of Units

ELEVATE AT HUEBNER GROVE

KINGS COVE

Property Details

Asset Class

VERITAS AT EAST COBB

THE GRIFFIN

Property Details

Dallas-Fort Worth, TX

VILLAS AT SUNDANCE

192

No. of Units

1981

Asset Class

1960

Atlanta MSA, GA

1998

Year Constructed

Property Details Asset Class

Atlanta, GA

Year Constructed

B+

Asset Class

210

No. of Units

THE HYPE

Property Details

268

No. of Units

ELEVATE AT THE POINTE

San Antonio, TX

Year Constructed

ELEVATE AT DAWSON FOREST

No. of Units

Atlanta, GA

1969

Year Constructed

181

No. of Units

A P A R T M E N T S

PROPERTY SUMMARY W MCDOWELL RD & N AVONDALE BLVD, AVONDALE, AZ

324

UNITS

2025

YEAR BUILT

337,159

RENTABLE SF

935

AVG UNIT SF

CONSTRUCTION

STORY + TOWNHOMES

606

STRUCTURED PARKING SPACES

AERIAL IMAGE V I K I N G

C A P I T A L

INVESTMENT HIGHLIGHTS

324 UNITS

PHOENIX, AZ

202 5 Year Built

16% 21% ~2x IRR

AAR

Equity Multiple

V I K I N G

C A P I T A L

V I K I N G

C A P I T A L

FOUR YEARS OF DEVELOPMENT COMPLETE- NOW IS LEASE UP

V I K I N G

C A P I T A L

PROJECT WINS

A Stronger Project Today Loan Extension Completed All loan documents signed

Avoided an Expensive Refinance

Funding finalized

No bridge financing needed

Project is moving forward

Saved $1.5 M in fees

Improved Interest Rate Floating rate now at 6.1%, down 4.5 points from the initial pricing

Loan Extension Completed

Construction Complete

Favorable terms secured on ~$3M in remaining construction obligations

Fully built project

Reduced near-term carrying costs and improved liquidity to supports lease-up

Now focused on leasing, stabilzation, and execution

V I K I N G

C A P I T A L

STRATEGIC ENTRY POINT

Most Investors Fund Risk. Very Few Enter After It.

CONSTRUCTION

100% COMPLETE

Why This Rare Opportunity Exists Today.

9:1

GROCAPITUS

INVESTOR APPROVAL

Rising interest rates and inflation drove construction costs above plan, requiring additional equity to complete lease-up and stabilization. Viking provided new capital senior to existing equity, with the recapitalization approved by existing investors at a 9:1 vote.

LOAN EXTENSION SECURED

Better than refinance – lower rate, zero costs, full amount preserved.

Why This Matters: We avoided approximately $1.5M in refinancing costs Kept the full $75M loan Cut the interest rate by ~600 basis points. This directly improves cash flow and your return.

TERM |

ORIGINAL LOAN | REFINANCE OPTION | NEW EXTENSION SOFR+750 (~11%)

SOFR+400 (~7.5-8%)

SOFR+250 (~6%)

Loan Amount

$75M

Reduced / uncertain

$75M (full)

Maturity

Expired

New 3-5 yr term

Sept 2028

Refinance Cost

N/A

$1.5-$2M+

Rate

V I K I N G

C A P I T A L

MAJOR PROJECT WIN

FAVORABLE TERMS NEGOTIATED ON $3M IN CONSTRUCTION COSTS The successful extension included favorable terms on roughly $3M of remaining construction obligations. That reduces near- term carrying costs and puts more liquidity behind leasing and marketing—right as the project needs it most to reach stabilization. MORE CASH FOR LEASE UP & MARKETING

DEAL STRUCTURE

The Avondale Commons investment is structured to strategically optimize returns while maintaining downside protection.

WHERE YOU SIT IN THE DEAL

HIGH RISK

EXISTING EQUITY Your preferred equity position —

SUBORDINATE PREF EQUITY

PROTECTED, CONTRACTUAL, AND FIRST IN LINE.

VIKING PREFERRED EQUITY SENIOR LOAN

YOUR POSITION

MINIMUM RETURN

VIKING EQUITY

SENIOR LOAN

PREFERRED

16% IRR

$18M

$75M

First to be paid before any equity distributions to sponsors or common investors

Contractuall minimum internal rate of return on your investment

Viking has already raised $12 M. ONLY $6M in allocations left.

LOW RISK

Full loan amount maintained with improved terms — no reduction in financing

V I K I N G

C A P I T A L

CAPITAL STRUCTURE OVERVIEW

PREMIUM POSITION IN THE CAPITAL STACK EXISTING LP EQUITY

$27M

Existing sponsor and developer equity capital already invested in land acquisition, construction, and completion.

LAST

EXISTING EQUITY SUBORDINATE PREFERRED EQUITY

$4.5M

Existing preferred equity already invested in land acquisition, construction, and completion sits ahead of the original equity.

3RD

VIKING EQUITY

$18M

Viking’s equity establishes strong alignment of interest with investors and underpins the projectʼs execution strategy and governance oversight.

2ND

New capital enters at a structurally advantaged position in the capital stack. $31.5M existing equity remains fully invested— continuing to support the asset while absorbing downside first.

DEBT

$75M

Senior loan financing secured at favorable terms, providing efficient leverage and stability within the overall capitalization.

1ST HIGHEST PRIORITY IN THE CAPITAL STACK

PROTECTED BY $31.5M JUNIOR TO YOU

V I K I N G

C A P I T A L

HOW VIKING CAPITAL STACKS AGAINST THE REST

Risk & Return Comparison Viking Capital Equity

Common Equity

Senior to all existing equity

First loss position

Paid first Lowest

Paid last Highest

Returns

Class B: 80/20 Reserve Class: 90/10

No Cap on backend profits

Taxation

Up to 90% Bonus Depreciation $31.5 M in equity junior to this position

K1 w/ depreciation losses No structural protection

Capital Stack Position Payment Priority Risk Profile

Downside Protection

V I K I N G

C A P I T A L

RETURN PROFILE

VIKING CAPITAL— PREFERRED EQUITY OUTCOMES Three scenarios — all anchored by your contractual 16% minimum

SCENARIO

IRR

CASH-ON-CASH

Minimum (Contractual)

16%

3.0%

16%+

Growing Distributions

Current trajectory — leaseup on schedule

8–10%

Agency refinance at stabilization unlocks equity

Base Case Upside (Agency Refi)

18–22%

NOTES Floor — contractual

V I K I N G

C A P I T A L

PROFORMA YEAR 1 (Sept. 2026)

YEAR 2 (Sept. 2027)

YEAR 3 (Sept. 2028)

YEAR 4 (Sept. 2029)

YEAR 5 (Sept. 2030)

PER UNIT (YEAR 3)

Gross Potential Income

$6,574,198

$7,017,270

$7,223,298

$7,442,908

$7,669,291

$22,294

Loss to Lease

($1,544)

($4,969,638)

($932,575)

($450,448)

($372,145)

($383,465)

($1,390)

Concessions

($471,551)

($665,459)

($305,982)

($111,227)

($76,693)

($944)

Other Rent Loss

($212,082)

($334,969)

($107,946)

($74,429)

($76,693)

($333)

Effective Gross Rental Income

$919,383

$5,084,267

$6,358,923

$6,885,107

$7,132,441

$19,626

Total Other Income

$236,093

$833,771

$858,251

$884,344

$911,243

$2,649

Total Net Income

$1,155,476

$5,918,038

$7,217,174

$7,769,451

$8,043,683

$22,275

Real Estate Taxes

$275,816

$303,291

$310,393

$316,693

$323,086

$958

Insurance

$81,488

$111,039

$113,639

$115,946

$118,286

$351

Contract Services

$115,143

$195,298

$199,871

$203,928

$208,044

$617

Utilities

$214,239

$292,969

$300,529

$307,219

$313,681

$928

Management Fee

$106,900

$157,442

$180,429

$194,236

$201,092

$557

Repairs and Maintenance

$29,100

$63,660

$65,151

$66,473

$67,815

$201

General/Admin

$99,132

$188,803

$193,225

$197,147

$201,126

$596

Advertising and Leasing

$187,436

$200,042

$204,726

$208,882

$213,098

$632

Payroll

$491,434

$702,243

$718,689

$733,277

$748,077

$2,218

Total Expenses

$1,617,169

$2,247,173

$2,319,098

$2,376,314

$2,427,214

$958

175.90%

44.20%

36.50%

34.50%

34.00%

Net Operating Income (NOI)

($461,693)

$3,670,865

$4,898,076

$5,393,137

$5,616,469

NOI per Unit

($1,425)

$11,330

$15,117

$16,646

$17,334

INCOME

Vacancy

EXPENSES

% EGI

$15,118

*Subject to change before closing V I K I N G

C A P I T A L

RETURNS

5 YEAR PROJECTED RETURNS BY CLASS

CLASS B $100K

AVG COC

5.2%

1.86X

$7,000

AAR

17.2%

$60,000

PREF

AVG COC

5.2%

1.93X

YEAR 1 3%

YEAR 2 4%

YEAR 3

YEAR 4

YEAR 5

ANNUAL DISTRIBUTION $3,000

$4,000

$5,000

$7,000

ANNUAL RETURN

EQUITY SPLIT 80/20

T O T A L E X P E C T E D R E T U R N O F C A P I T A L $186,000

RESERVE CLASS $500K

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

ANNUAL DISTRIBUTION

$15,000

$20,000

$25,000

$35,000

AAR

18.6%

EQUITY SPLIT 90/10

$335,000

PREF

ANNUAL RETURN

T O T A L E X P E C T E D R E T U R N O F C A P I T A L $965,000

PROJECTIONS MAY VARY BASED ON PROPERTY PERFORMANCE V I K I N G

C A P I T A L

BONUS DEPRECIATION

Bonus depreciation for Viking investors ORIGINAL PROJECTION

40-50% What was originally underwritten and communicated

Secured Rate Up Up to to

90%

EXAMPLE OF LOSS PER $100K

$90K

Paper loss allocated per $100,000 invested — usable against passive income

Funding deadline Sept. 10th

TIMING MATTERS, INVEST BEFORE SEPTEMBER 10TH V I K I N G

C A P I T A L

KEY RISKS

RESOLVED vs. REMAINING Three of four major risks have been fully resolved. One remains active on track. REFINANCE RISK

FORECLOSURE RISK

RESOLVED

Loan extended at SOFR+250 – no refinancing required until Sept. 2028

Lender relationship secured, extension executed – no foreclosure risk

RESOLVED

CAPITAL CALL RISK

LEASE-UP EXECUTION

RESOLVED

ACTIVE

$3M is being raised externally – no additional capital required from existing investors

Ongoing – currently ahead of schedule at 30% pre-leased with Mark Taylor onboarded

RESOLVED

ACTIVE - AHEAD OF SCHEDULE

V I K I N G

C A P I T A L

BEST-IN-CLASS PROPERTY MANAGEMENT INCOMING

Proactive upgrade to maximize lease-up velocity and long-term performance.

NEW MANAGER

WHY THE CHANGE

PORTFOLIO UPGRADE Ranked #1 property management firm in Phoenix – proven track record in multifamily lease-up

This is a proactive, portfolio-wide upgrade – not a reaction to any failure or underperformance

Why this matters: Better leasing velocity, stronger tenant quality, lower vacancy, and improved NOI – all of which directly support your preferred return and the path to distributions. V I K I N G

C A P I T A L

AHEAD OF SCHEDULE ON LEASE-UP

Strong early momentum — velocity accelerating into summer leasing season.

Currently Occupied

25% Units occupied and generating rental income today

Pre-Leased

Monthly Velocity

30%

15–20

Signed leases with move-ins scheduled

New leases signed per month and accelerating

90-Day Outlook: We expect 45–60 additional leases in the next 90 days. At that pace, the property should have (CofO) within 90 days and cash flow by December.

V I K I N G

C A P I T A L

UNIT MIX

3 BR 2.5 BA 16 Units 5%

3 BR 2 BA 16 Units 5%

1 BR 1 BA 176 Units 55%

2 BR 2.5 BA 16 Units 5%

2 BR 2 BA

100 Units 30%

Avondale Commons offers spacious townhomes and right-sized apartments designed for growing families and young professionals.

V I K I N G

C A P I T A L

SITE PLAN

POOL & OUTDOOR AREA MIXED USED BUILDING

RESTAURANT

LUXURY APARTMENTS

RESTAURANT

RETAIL

V I K I N G

C A P I T A L

WHY WE LOVE THIS DEAL

OFF MARKET ADVANTAGE:

FLIGHT TO QUALITY

We secured this deal off-market, at a major discount, allowing us to negotiate favorable terms and avoid the bidding war environment typical in Phoenix today.

This mix of modern apartments and townhomes offers the high-quality housing today’s renters demand.

LOW ENTRY BASIS:

HIGHER PREFERRED RETURN

Our preferred equity position is secured well below construction cost, providing a strong margin of safety and favorable upside potential.

16% IRR net to the deal is built into the structure, providing additional risk mitigation and investment confidence.

PATH OF PROGRESS & CLOSE TO STRONG ECONOMIC DRIVERS:

SAFETY IN THE CAPITAL STACK

Avondale is experiencing explosive growth, driven by major employers like Intel, AI tech firms, and healthcare giants migrating to the West Valley.

HIGH DEMAND, LIMITED SUPPLY Strong renter demand paired with a low pipeline of new deliveries supports long-term rent growth.

ECONOMIES OF SCALE: With another new build underway in Peoria, we’re unlocking economies of scale across operations, allowing us to streamline costs, share resources, and enhance overall returns for both projects.

Viking’s equity position places our investors ahead of the existing preferred and common equity, reducing downside risk.

BIGGER TAX ADVANTAGES Reallocating up to 90% of bonus depreciation creates larger upfront paper losses, lowering your tax bill immediately.

INVESTOR-FIRST CONTROL Viking holds full governance authority to protect investor interests at every stage.

V I K I N G

C A P I T A L

PROPERTY LOCATION

WESTGATE

WINGWAM GOLF CLUB

Glendale

Avondale

DESERT SKY MALL

AVO N DA L E C O M M O N S

PHOENIX CHILDREN’S EMERGENCY DEPT.

TALKING STICK RESORT AMPITHEATRE

HARKINS THEATRES ESTRELLA FALLS

GATEWAY CROSSING

RETAIL & RESTAURANTS

Goodyear GOODYEAR BALL PARK

PHOENIX/GOODYEAR AIRPORT

AVID HOTEL RETAIL & REHAB CENTERS AKOS MEDICAL CAMPUS PHASE 2

V I K I N G

C A P I T A L

AVONDALE CATALYST FOR GROWTH

40% RENTER OCCUPIED

+4.5% +3.6% WAGE GROWTH OVER THE YEAR

POPULATION GROWTH OVER THE PAST 2 YEARS

83.1%

55.9%

PLENTIFUL JOBS WITHIN 45 MINS.

WHITE COLLAR JOBS

V I K I N G

C A P I T A L

AVONDALE DEMOGRAPHICS

$102,820 AVERAGE HOUSEHOLD INCOME

100,130

2M ANNUAL VISITORS

235,099

POPULATION

DAILY TRAFFIC COUNT ALONG INTERSTATE 10

≈21,500

~47%

FAMILY HOUSEHOLDS

POPULATION UNDER 30 YEARS OLD

~33

~3.3%

MEDIAN AGE

UNEMPLOYMENT RATE

V I K I N G

C A P I T A L

PHOENIX TOP EMPLOYERS

BANNER HEALTH

AMAZON

HONEYWELL

AMERICAN EXPRESS

EMPLOYS 55,000

EMPLOYS 36,000

EMPLOYS 7,111

EMPLOYS 7,000

ST JOSEPH’S HOSPITAL

ASU

SROUTS

WELLS FARGO

EMPLOYS 5,000

EMPLOYS 18,500

EMPLOYS 13,526

EMPLOYS 15,000

V I K I N G

C A P I T A L

PHOENIX’S PHOENIXʼS

BOOMINGgrowth

PHOENIX POPULATION HAS GROWN

10,000,000

9,000,000 8,000,000

FOUR TIMES THE NATIONAL AVERAGE.

7,000,000

3,000,000 2,000,000 1,000,000 2020

2010

2000

1990

1980

1970

1960

1950

1940

1930

1920

1910

1900

1890

1880

2040

4,000,000

G R O W T H

5,000,000

2030

P R O J E C T E D

6,000,000

2025 Population 4.83 M 2040 Population Estimate

8.7 M

V I K I N G

C A P I T A L

PHOENIX SNAPSHOT

ARIZONA HIGHER EDUCATION Arizona State University ranks 9th globally in the Times Higher Education Impact Rankings 2024. ASU excels in sustainable development goals, leading in multiple areas such as sustainable cities and communities, and life on land. The University of Arizona is known for its strong research output and quality of education, placing it in the top 10% of universities globally.

V I K I N G

C A P I T A L

INVESTMENT HIGHLIGHTS

2025 16% 21% ~2x Year Built

IRR

AAR

Equity Multiple

SCAN CODE TO BOOK A CALL

AVONDALE COMMONS PHOENIX, AZ Class A Multifamily Opportunity

OPEN TO ACCREDITED INVESTORS

324 UNITS

2025 BUILT V I K I N G

C A P I T A L