Arbors of Hickory Ridge 2010 (Under Agreement)

Moran & Company is pleased to announce that it has been selected as the exclusive agent for the sale of Arbors of Hickory Ridge, a 348-unit multifamily community in Memphis, TN.

Investment Highlights

Upgradeable Property - With Arbors at Hickory Ridge's scenic lakeside location and 1986 construction, the community is a candidate for light interior upgrades.

Strong Property Performance - Arbors of Hickory Ridge has demonstrated very strong performance with above market occupancy rates and positive trend lines through 2009 into 2010.

Opportunity for Rent Capture - The community's net rental rates are below its immediate competitors. The propery is ideally positioned for rental capture through organic rental growth.

Low Density Site Plan - Arbors of Hickory Ridge was built as two and three-story product across 31 acres, which renders a low density of 11.2 units per acre. The community's low density pairs well with Arbor's lush landscaping, scenic views, and popular amenities.