The Fort, Knoxville, TN 37916

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Heidi A.

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Building Details:

The Fort is amulti-family property for lease in Knoxville, TN.

The Prime Campus Housing Knoxville Portfolio consists of five extremely well-located student housing apartment properties adjacent to the University of Tennessee Knoxville. The buildings are all located in the historic Fort Sanders district and within walking distance of the center of campus. The properties feature a combined 134 units with 238 beds. One 1-bedroom unit is used as the leasing/management office and one 1-bedroom unit is used as the maintenance shop. All apartments include a fully equipped kitchen with a stove, refrigerator, dishwasher and garbage disposal, individual resident paid HVAC and individual resident paid hot water heaters and upgraded amenities. The properties have strong operating histories and there are in place leases supporting the current 100% occupancy. The portfolio has remained 100% leased for at least the past nine years and there have been rent increases annually. All leases provide for tenant paid utilities, non-refundable move-in fees and security deposit up front. All leases are joint and several tenant liability contracts with parental guarantees.

• Large portfolio provides for economies of scale
• Potential upside to owner/developer via upgrades/renovations
• Solid operating history
• On campus

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