INVESTMENT HIGHLIGHTS

• Unique Value-Add Opportunity, Convenient to Major Interstate 95 and Fort Bragg.
• Growth and Modernizing Units to Capture Renter Demand for Units near Downtown Fayetteville.
• Ability to Push Rents· An Attractive Opportunity to Further Stabilize and Maximize the Income Potential of this Asset

This property consists of one- and two-bedroom layouts totaling 40 units in Spring Lake, NC. The Pine Grove Apartments are well positioned near Fort Bragg, just 10 minutes from Downtown Fayetteville, NC. This value-add opportunity has seen a tremendous increase in occupancy since the takeover in 2019, with proven rent growth on renovated units of over
$400/month. In addition, current ownership has been able to drive organic rent growth on unrenovated units, further adding to the potential of this unique opportunity. Through continued rent growth and modernizing unit interiors to capture military renter demand for renovated units in the Fayetteville MSA., the asset provides multiple avenues of growth for an investor.
Continued growth within the Fayetteville market, coupled with solid employment gains continue to attract out-of-state capital to the Eastern North Carolina market. Fort Bragg, Carvers Creek State Park, and convenient access to Interstate 95 have solidified the area as an excellent place for veterans and military personnel. In addition, the area is home to many large companies including Hendrick Automotive Group, Lockheed Martin, Booz Allen Hamilton, Unilever,
and Manpower Group. The Pine Grove Apartments positioning within the market will allow an investor to continue to drive rents and upgrade units,
providing strong annual returns for this unique investment opportunity.