Current Investments

Sunrise Gardens

san diego investment real estate

Sunrise Gardens

Investment Information

Address: 825 N Cotner Blvd
Lincoln, NE 68505
Asset Class: Senior Housing
Size: 94 units
Year Built: 1997
Acquisition Date: August, 2019
Acquisition Cap Rate: 5.85%

Description:
Sunrise Gardens is comprised of one, three-story multifamily apartment building with a total of 69,745 rentable square feet. The community features a mix of one-bedroom and two-bedroom apartments with an average unit size of 742 square feet. The property is age restricted to seniors (55+), but there are no rent limit restrictions. Community amenities include an onsite laundry facility, two elevators, and a community room. The property benefits from close proximity to the Gateway Mall, Lincoln’s largest shopping center.

The Opportunity:
Sunrise Gardens will provide investors with the opportunity to acquire a stabilized asset at below replacement cost. With ever greater numbers of baby boomers looking to downsize in retirement, this asset is well positioned to benefit from demographic trends. Modest rent increases coupled with more efficient management practices will bolster investor returns going forward. We anticipate investor cash on cash returns in excess of 6% year one with subsequent increases as we benefit from fixed debt service payments for the term of the investment.