501 Silkwood DriveBryan, TX 77803

76 unitsSPACIOUS UNITS WITH PROVEN VALUE-ADD

TEN MINUTES FROM THE TEXAS A&M CAMPUS

TEN MINUTES FROM THE NEW RELLIS CAMPUS

1983construction

1,400avg sf

106,400 SFnra

INVESTMENT HIGHLIGHTS

ADDRESS 501 Silkwood Drive Bryan, TX 77803

SUBMARKET Bryan

TERMS All Cash

NUMBER OF UNITS 76 Units

YEAR COMPLETED 1983

NET RENTABLE SF 106,400 SF

AVERAGE UNIT SIZE 1,400 SF

MARKET RENT PER UNIT $900

MARKET RENT PER SF $0.64

OCCUPANCY 91%

NUMBER OF BUILDINGS

38 one-story residential buildings

ACREAGE & DENSITY 7.08 acres | 10.73 units/acre

TOTAL LAND 308,406 SF

BRYAN INDEPENDENT SCHOOL DISTRICT

Ben Milam Elementary SchoolJane Long Intermediate School

Travis B. Bryan High School

PROPERTY SUMMARY

Large Units with Proven Value-Add• 100% spacious 1,400 SF three bedrooms units• Current ownership has upgraded seven of the units

with faux wood flooring, new carpet, paint, resurfaced countertops, stainless steel appliances, lighting fixtures, new cabinets and hardware, new blinds, and washer/dryer appliances and are receiving $175 premiums over their classic units

• Seven more units are currently being renovated• Comparable properties in the area are receiving average

rents of $0.89/SF, $0.35 above Clearleaf Crossing • A future owner has the ability to continue the interior

value-add program and increase rents in line with the comparables

Located on the Expanding West Side of Bryan• The population within a mile of the Property grew 19% from

2010 to 2018• Located within minutes of Texas A&M University (10 mins)

and Blinn College (10 mins)• Ten minutes from the new Texas A&M RELIS Campus shared

with Blinn College that will house 10,000 students • Walking distance to Jane Long Middle School with 1,137

students and over 75 faculty and staff• Close proximity to some of Bryan/College Station’s premier

employers◊ Texas A&M University (20,000+)◊ Bryan ISD (2,090)◊ College Station ISD (2,000+)◊ Texas A&M Health Science Center (2,000+)◊ Reynolds & Reynolds (1,800+)◊ Sanderson Farms (1,850)◊ St. Joseph Regional Health Center (1,560)◊ Blinn College (1,000+)◊ Walmart (1,000+)◊ HEB Grocery (1,000+)◊ Alenco Holding Corp. Inc (950)

• Abundant retail and entertainment within four miles◊ Walmart (1.4 mile)◊ HEB (2.4 miles)◊ Kroger (3.25 miles)◊ Traditions Club (3.25 miles)◊ Northgate Entertainment District (3.5 miles)◊ Bryan PREMIERE LUX Cine 15 IMAX (3.5 miles)◊ Texas A&M Golf Course (3.75 miles)

• Less Than Two Miles from Historic Downtown Bryan ◊ Incorporated into Texas Legislature in 1871, the city

of Bryan’s original population of a few hundred has grown to 84,000 residents

◊ Today, businesses are opening, expanding and relocating in Downtown Bryan, breathing new life into the area

◊ Abundance of restaurants, shops, and nightlife highlighted by Café Capri, Proudest Monkey, Market 1023, and Madden’s Casual Gourmet

area highlights

TEXAS A & M UNIVERSITY

KYLE FIELD

STUDENTRECREATION CENTER

REED ARENA

GEORGE BUSHPRESIDENTIAL LIBRARY &MUSEUM

EASTERWOODAIRPORT

MAYS BUSINESS SCHOOL

N HARVEY MITCHELL PKWY

TEXAS A&M UNIVERSITY (3.5 MILES)

Texas A&M is the largest university in Texas and the second largest in the United States. Enrollment has grown over 38% in the last 10 years. The main campus is currently home to over 67,000 students, and the school boasts over 440,000 former students worldwide. With over 130 undergraduate degree programs, 170 master’s degree programs, 93 doctoral programs and 5 first professional degrees as options for study, Texas A&M is full of educational and professional possibilities. Texas A&M is also one of the largest research universities in the nation; faculty researchers generate more than $866 million in research expenditures.

TEXAS A&M “25 BY 25” MOVEMENT

By 2025, Texas A&M University hopes to expand the Dwight Look College of Engineering enrollment to 25,000 students. This is significant news for the area because of the influx of not only students, but faculty and staff that will be hired as part of this movement. Texas A&M’s hope to increase accessibility to education within their engineering department will have a direct impact on the Bryan-College Station community and will help to continue the growth of newer retail and career opportunities in the city.

TEXAS A&M RELLIS CAMPUS (4.25 MILES)

• $150 million investment which created a high-tech multi-institutional research, testing, and workforce development campus developed on 2,000 acres

• Home to several significant state and national research facilities

• Research focus includes robotics, driverless and connected vehicles, advanced manufacturing, large-scale testing, and smart power grids/water systems

• Campus will include 7 new buildings and test beds to encourage the private sector to develop research facilities adjacent to A&M’s site

• Phase I of the campus delivered in 2018 and currently holds 1,000 students. The second phase of the project is set to wrap up in the second quarter of 2019 and will allow the campus to hold an additional 2,500 students. Eventually, the campus is expected to host as many as 10,000 students

texas a&m university

MAP LEGEND1. Engineering Education Complex

» 530K SF, $225M Development2. College of Veterinary Medicine & Biomedical

Science Education » 309K SF, $121.2M Expansion

3. Commons Building » 89K SF, $37M Renovation

4. West Campus Support Building » $10.5M Development

5. Campus Hotel and Conference Center » 20K SF Development » 11 acres; 150 beds

6. Corp of Cadets Dorm » 34K SF, $225M Renovation

7. The Gardens at Texas A&M » 40-acre public teaching garden

8. Student Rec » $54M Expansion

9. Human Clinical Research » $12.9M Development

10. Agriculture & Life Science Building » $32.5M Development

11. Softball Stadium » $28.6M Development; 2,000 seats

12. Track and Field Facility » $40M Development; 3,000 seats

cupepper dr

georg

e bus

h drunive

rsity

dr

harvey mitchell pkwy s

texas ave

wellborn rd

New Track and Field Facility

12

Corp of Cadets Dorm Renovation

6

Student Recreation Center Exp.

8

Agriculture & Life Sciences Bldg.

10

Commons Building Renovation

3

The Gardens at Texas A&M

7

West Campus Support Building

4

Human Clinical Research

9

College of Veterinary Medicine& Biomedical Science Education

& Small Animal Hospital Exp.

2

On Campus Hotel & Conf. Center

5

Engineering Education Complex

1

New Softball Stadium

11

67,000+ Students 20,000+ Employees

area highlightsBLINN COLLEGE BRYAN CAMPUS (2.4 MILES)

• Has been offering classes in Bryan/College Station since 1970

• Over 80 acres with state of the art learning facilities at the current Bryan campus

• Current enrollment of 12,000 students includes more than 1,500 in the first class at Blinn’s new Rellis campus

• Students taking 30 credit hours at Blinn save 42% in tuition compared to the average Texas public university

• The Texas A&M-Blinn TEAM (Transfer Enrollment at A&M) offers students a co-enrollment for incoming freshman to complete 45 hours at Blinn and 15 hours at A&M within two years and then transfer into degree granting majors at A&M

• Enrollment at the Health Science Center, located 3 miles from the Property, is up 57.6%

• Blinn has experienced 33.4% growth since 2006

BRYAN ISD

• Home to over 16,000 students with 15 elementary schools, 4 middle schools, and 4 high schools

• Bryan High School offers the region’s only Baccalaureate Program, a coveted prize that carters to the highest achieving students

• In November of 2014 a $132 million bond was approved which includes renovations to nearly every campus

• Bryan ISD is one of Bryan’s top employers with a staff of roughly 2,090

RESEARCH VALLEY/BIOCORRIDOR (4 MILES)

• Has become the epicenter of Texas’ emerging biotech industry

• Hosts numerous private and public bio manufacturing and research facilities

• Home to the Texas A&M Health and Sciences Center campus and The Texas A&M Center for Innovation in Advanced Development and Manufacturing facilities including:

◊ National Center for Therapeutics Manufacturing◊ Pandemic Influenza Facility◊ Live Virus Vaccine Facility

• Has received over $1.1B in capital investment since 2007

• Major firms with a local presence include: ◊ FUJIFILM Diosynth Biotechnologies◊ GlaxoSmithKline◊ Caliber Biotherapeutics◊ G-Con LLC◊ Nutrabolt◊ iBio

• ATLAS◊ 200-acre master planned community connecting

Bryan and College Station designed especially for biotech enterprises

◊ Atlas includes retail, office, multifamily, a hotel, and an extensive park and trail system

◊ Lake Walk Town Center includes 180,000 SF of retail and office space

CENTURY SQUARE (3.5 MILES)

• 60-acre mixed use development• Developer: Midway Companies• Includes:

◊ Premier retail, restaurant and entertainment venues

◊ 60,000 SF of Class A office ◊ 2 full service hotels◊ Conference center◊ Class A multifamily◊ Activated central Gathering Space

TRADITIONS GOLF CLUB (3.25 MILES)

• A high-end private golf-club and residential community

• Golf course is consistently recognized as one of the best in Texas and is home to the Texas A&M Men’s and Women’s golf teams

• Also features a sport and leisure pool, a junior Olympic lap pool, and dining options by the pool or in the Clubhouse

• A new racquet center is adding six tennis courts and a tennis pro shop with locker rooms and a dining area

GOLF CLUB AT TEXAS A&M (3.75 MILE)

• Originally opened for play in 1951 with a complete renovation in 2013. The Golf Club includes an 18-hole championship golf course, driving range, and a short game practice area for research and classes

POST OAK MALL (5.25 MILES)

• 120 Total Stores including: Macy’s, Bealls, Dillard’s, Foot Locker, H&M, Sunglass Hut, among others

• Also holds a food court with 15 different restaurant/eating options

• 774,922 GLA

FINFEATHER RD

WOODSONLUMBER COMPANY

clear leaf drsilkw

ood dr

JANE LONGSCHOOL PARK

BLINN COLLEGECHI ST JOSEPH HEALTHREGIONAL HOSPITAL

JANE LONGINTERMEDIATE SCHOOL

JANE LONGSCHOOL PARK

MILAMELEMENTARY SCHOOL

HENDERSON PARK

s main st

clea

r lea

f dr

silkwood dr

beck st

ANSON JONESELEMENTARY SCHOOL

BRYAN TEXASUTILITIES

DOWNTOWNBRYAN

clear leaf dr

crystal brook dr

FINFEATHER RD

WOODSONLUMBER COMPANY

clear leaf drsilkw

ood dr

JANE LONGSCHOOL PARK

BLINN COLLEGECHI ST JOSEPH HEALTHREGIONAL HOSPITAL

JANE LONGINTERMEDIATE SCHOOL

JANE LONGSCHOOL PARK

MILAMELEMENTARY SCHOOL

HENDERSON PARK

s main st

clea

r lea

f dr

silkwood dr

beck st

ANSON JONESELEMENTARY SCHOOL

BRYAN TEXASUTILITIES

DOWNTOWNBRYAN

interior features

• Faux wood flooring*• New carpet*• Fresh paint*• Resurfaced countertops*• Stainless steel appliances*• New lighting fixtures *• New cabinets and

hardware*• New blinds*• Washer & dryer*• Washer & dryer connections• Kitchen island

• Dining area• Ceiling fans in bedrooms• Fenced back yard• Pet friendly

*Upgraded Units

3 BR / 2 BA - 1,400 SF

MECHANICAL SYSTEMSELECTRICAL Individually metered; resident pays

WATER Individually metered; resident pays

HVAC Individual climate controlled units

HOT WATER Individual hot water heaters

PROPERTY DETAILS

CONSTRUCTION DETAILSSTYLE Duplex

BUILDINGS 38 one-story residential buildings

FOUNDATION Concrete post tension slab

EXTERIOR WALLS Brick and wood siding

ROOF SYSTEM Pitched with composition shingles

FLOOR COVERINGS Wood and tile

PAVING Concrete

WIRING Copper

PIPING Copper

PROFORMA

INCOMEGross Scheduled RentLess: (Gain)/Loss-to-LeaseGross Potential IncomeLess: VacancyLess: Non-Revenue UnitsLess: Collection LossTotal Rental IncomeEffective Gross IncomeEXPENSESRepairs and MaintenancePayroll AdministrativeUtilitiesTotal Variable ExpensesTaxesInsuranceManagement FeeTotal Operating ExpensesCapital ReservesTotal Expenses

Net Operating Income $444,274 $5,846 $4.18

32.50% $213,878 $2,814 $2.012.89% 19,000 250 0.18

29.61% $194,878 $2,564 $1.835.00% 32,908 433 0.313.46% 22,800 300 0.21

10.14% 66,747 878 0.6311.00% $72,423 $953 $0.680.90% 5,923 78 0.060.29% 1,900 25 0.025.49% 36,100 475 0.344.33% 28,500 375 0.27

% of EGI Totals Per Unit Per SF80.18% $658,152 $8,660 $6.1980.18% $658,152 $8,660 $6.191.50% 12,312 162 0.121.32% 10,800 142 0.105.00% 41,040 540 0.39

88.00% $722,304 $9,504 $6.7998,496 1,296 0.93

100.00% $820,800 $10,800 $7.71% of GSR Totals Per Unit Per SF

PRO FORMA FINANCIAL ANALYSIS

12.00%

UNDERWRITING ASSUMPTIONSGross Scheduled Rent (GSR) – Proforma Year 1 GSR is projected at $820,800 annually, or $68,400 per month based on current market rents in the latest rent roll. Loss-to-Lease (LTL) – Proforma Year 1 LTL is assumed at 12% of GSR based on leased rent versus market rent in the latest rent roll.Vacancy Loss – In Proforma Year 1, Vacancy Loss is assumed at 5% of GSR which is based on current occupancy at the property.Non-Revenue Units – In Proforma Year 1, Non-Revenue Units are assumed at 1.32% of GSR which is based on one unit at the property serving as a NR unit.Collection Loss – In Proforma Year 1, Collection Loss is assumed at 1.50% of GSR which is in line with properties in the Bryan/College Station market with similar vintage and location.Repairs and Maintenance – In Proforma Year 1, Repairs and Maintenance expenses are projected at $28,500 annually, or $375 per unit, which is consistent with T12 actuals.Payroll – In Proforma Year 1, Payroll expenses are projected at $36,100 annu-ally, or $475 per unit, which is consistent with T12 actualsAdministrative – In Proforma Year 1, Administrative expenses are projected at $1,900 or $25 per unit, which is consistent with T12 actuals

Utilities – Utilities are based on T12 actuals and grown 3.00%. They are projected at $5,923 annually, or $78 per unit.Real Estate Taxes – Clearleaf Crossing Duplexes is located in Brazos County. The 2017 property assessment was $2,440,360 and the assessment for 2018 increased to $2,471,680. The Proforma Year 1 Tax expense is calculated by growing the 2018 assessed value by 10% and multiplying by the 2018 tax rate (2.455 per $100). The projected Proforma Year 1 taxes are $66,747 or $878 per unit.Insurance – In Proforma Year 1, Insurance expenses are projected at $22,800 or $300 per unit. Insurance expenses vary depending on the coverage and deductible selected by the investor, and whether the Property is included on a single-asset or a blanket policy.Management Fee – Management Fee is projected to be 5.00% of Effective Gross Income, which equals $32,908 annually, or $433 per unit in Profor-ma Year 1. This is in line with properties in this submarket of this size and quality.Capital Reserves – The Property was built in 1983. Proforma Year 1 Capital Reserves are projected at $19,000 annually, or $250 per unit.

RENT COMPARABLES

Brookside 1525 E 29th StCanyon Village3200 Finfeather RdOak Creek Condominiums2320 Jaguar DrOaks of Villa Maria1303 W Villa Maria RdWood Trail Apartments3130 E Villa Maria RdRiverstone Apartments2301 Broadmoor Dr

TOTALS/AVERAGES 1981 128 107,309 842 $763 $0.91 $750 $0.89 94%

Clearleaf Crossing501 Silkwood Dr

$0.89 $806 $0.88 95%

5 1982 128 94,464 738 $783

6 1980 248

1983 76 106,400 1,400 $900

226,920 915 $812

OCC.

$0.84 97%

AVG.SQ FT#

PROPERTYADDRESS

YEAR COMPLETED

# OFUNITS

TOTALNRA

MARKETRENT

MARKETRENT PSF

1 1980 150 134,550 897 $751 $0.79

3 1983 40 38,960 974

$1.01

4 1983 54 53,838 997 $835

$701 $0.72

2 1977 145 95,120 656 $663 $656 $1.00

90%

$0.64

89%$0.84

$1.06

91%

95%

$758 $0.54

$0.71

$827 $0.83

$778 $1.05

$695

86%

EFFECTIVERENT

EFFECTIVERENT PSF

$712

2818

2154

60

158

1179

1687

6

6B

47

3021

COLLEGE STATION

BRYAN

EASTERWOODAIRPORT

TEXAS A & M UNIVERSITY

canyon village

brookside

wood trailapartments

oaks of villa maria

oak creekcondominiums

123456 riverstone apartments

5

1

4

6

3

2

Newmark Knight Frank - Houston1700 Post Oak Blvd, 2 BLVD Place, Suite 400Houston, TX 77056

Phone: (713) 599-1800Fax: (713) 599-1801

MULTIFAMILY

Brad Shaffer T: 713-337-5806 brad.shaffer@ngkf.com

Brandon MillerT: 713-554-0132brandon.miller@ngkf.com

Taylor Gaspard T: 713-337-5805 taylor.gaspard@ngkf.com

DEBT & STRUCTURED FINANCE

Adam AllenT: 713-425-5433adam.allen@ngkf.com

Tip Strickland T: 713-337-5810tip.strickland@ngkf.com

David Schwarz, CCIM T: 713-337-5811david.schwarz@ngkf.com

Purvesh GosaliaT: 713-300-7954purvesh.gosalia@ngkf.com

More information is available on our website at: http://arausa.listinglab.com/ClearleafCrossing