SPRING CREEK TOWNHOMES

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SPRING CREEK TOWNHOMES

INVESTMENT OFFERING

997 EAST 1060 SOUTH PROVO, UTAH

INVESTMENT OFFERING MEMORANDUM

Gordon Jacobson

+1 801 597 5500

[email protected]

EXCLUSIVE REPRESENTATION BY

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P. 2

997 EAST 1060 SOUTH | PROVO, UTAH

INVESTMENT OFFERING

OPPORTUNITY ZONE / 1031 EXCHANGE

MAJORITY INTEREST AVAILABLE IN AN EXCITING TOWNHOME PROJECT IN PROVO, UTAH.

PROPERTY FEATURES

• Finished units sold!

• 32 Units in Phase 3 & 4 with completion in less than 180 days • Qualified Opportunity Zone

• Up to 4x your QOZ holding and tax advantage with additional leverage

• 2 miles from BYU campus • 3 Bed 2.5 Bath

• Oversized 2-car garages • Community open space on-site

• One block from spectacular new Provo City Park • High growth area with rapid appreciation

INVESTMENT SNAPSHOT

Sale Price per unit (32 Units)

$330,000

Gross Monthly Rent per unit

(

Similar units rent for $1,600-$1,800/Month

)

$1,750.00

Operating Expense Factor (25%)

($437)

Net Monthly Income per Unit

$1,312.50

Additional Income

Internet Package Profit

$30

Pet Rental Income (average)

$40

Net Annual Income per Unit

$16,590.00

Investment CAP Rate

5.10%

All exterior building and property maintenance is by the HOA, including

roofs, landscaping, asphalt and building insurance

Monthly Utilities Expenses by Tenant

Questar Gas Monthly Average

$31.83

Rocky Mtn Power Monthly Average

$50.00

Water (included in HOA dues)

$0

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INVESTMENT OFFERING

PROPERTY PHOTOS

Stainless Appliance Package Included

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P. 4

997 EAST 1060 SOUTH | PROVO, UTAH

INVESTMENT OFFERING

PROPERTY PHOTOS

Final Phase Construction Spacious Open Plan

BUILDING 11

BUILDING 12

BUILDING 9

BUILDING 10

BUILDING 11

BUILDING 12

BUILDING 8

TOTAL OF 32 UNITS

Provo City Park

Available Available Available Available Available Available Available Available Under Contract Under Contract Under Contract Under Contract Under Contract Under Contract

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INVESTMENT OFFERING

SITE PLAN

_{STATE ST.}

#13 964 E. 966 E.#12 968 E.#11 980 E.#10 986 E.#9 992 E.#8 #1 967 E 973 E.#2 979 E.#3 985 E.#4 991 E.#5 997 E.#6 1060 SOUTH 1000 EAST PHASE 1 #7 998 E. _{1012 E.}#14 _{1018 E.}#15 _{1024 E.}#16 _{1042 E.}#17 _{1048 E.}#18 _{1054 E.}#19 _{1060 E.}#20 _{1066 E.}#21 _{1072 E.}#22 #27 1049 E. 1055 E.#26 1061 E.#25 1067 E.#24 #30 1027 E. #31 1021 E. 1033 E.#29 1043 E.#28 1073 E.#23 #32 1052 S. #33 1048 S. #39 1024 S. #34 1044 S. #35 1040 S. #36 1036 S. #37 1032 S. #38 1028 S. #40 1047 S. #46 1023 S. #41 1043 S. #42 1039 S. #43 1035 S. #44 1031 S. #45 1027 S. #47 975 E. 979 E.#48 999 E.#53 #49 983 E. 987 E.#50 991 E.#51 995 E.#52 #63 1023 E. #54 1022 E. 1046 E.#58 #59 1047 E. #62 1029 E. 1035 E.#61 1041 E.#60 #55 1028 E. 1034 E.#56 1040 E.#57 960 E. 1020 E. 1010 S. 1060 S. 1020 S. PHASE 2 PHASE 4 Proj # OF SHEETS Date No. Revision 1 1 178 - 1299 PHASE 3 UNDER CONSTRUCTION COMMON AREA

BUILDING 11

BUILDING 12

PHASE 1 - SOLD OUT

PHASE 2 - SOLD OUT

FUTURE

PHASE 5

BUILDING 10

UNDER CONTRACT

BUILDING 8BUILDING 8

UNDER C

ONTRA

CT

UNDER C

ONTRA

CT

BUILDING 9 BUILDING 9

UNDER C

ONTRA

CT

UNDER C

ONTRA

CT

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P. 6

INVESTMENT OFFERING

LOCATION MAP

SITE

Eas y F reeway Ac ces s Eas y F reeway Ac ces s Access Access StationStation

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48%

_{OF UTAHNS HAVE} OBTAINED POSTSECONDARY CERTIFICATES OR DEGREES (UTAH.GOV) MORE THAN

35

HIGHER EDUCATION INSTITUTIONS IN UTAH (NATIONAL DATABASE OF SCHOLARSHIPS) OVER

79

THOUSAND

DEGREES AWARDED IN 2017 (DATAUSA.IO)

Utah boasts a Highly

Educated & Skilled

Workforce

UTAH IS EXPERIENCING OVERWHELMING JOB GROWTH IN

CONSTRUCTION,

FINANCIAL,

HEALTH &

TECHNOLOGY

SECTORS (UTAH.GOV) ABOUT

54.5

THOUSAND

JOBS ADDED TO UTAH’S ECONOMY FROM

JULY 2018-JULY 2019

(U.S. BUREAU OF LABOR STATISTICS)

Opportunities for

Jobs & Careers

in Utah are Plentiful

ONE OF THE FASTEST GROWING STATES IN THE U.S.

20.7%

_{POPULATION INCREASE}

2010-2020

(ESRI BAO)

MEDIAN AGE OF

30.9

THE YOUNGEST STATE IN THE U.S. BY MEDIAN AGE

(ESRI BAO)

Utah is a

Young & High-Growth

State

THERE ARE MORE THAN

571

THOUSAND

MORE PEOPLE IN UTAH THAN THERE WERE IN 2010

(ESRI BAO) UTAH NAMED

#2

_{BEST STATE} FOR BUSINESS IN 2018 (FORBES) RANKED

2

nd

BEST STATE FOR OVERALL ECONOMY

(U.S. NEWS: BEST STATES RANKING)

AMONG THE TOP STATES IN THE U.S. FOR JOB GROWTH

3.6%

UTAH’S JOB GROWTH RATE JULY 2018-JULY 2019

(U.S. BUREAU OF LABOR STATISTICS)

The

Economic Conditions

in Utah are Great

ABOUT

15%

OF UTAH RESIDENTS SPEAK A LANGUAGE OTHER THAN ENGLISH AT HOME

(THE SALT LAKE TRIBUNE)

OVER

120

LANGUAGES

SPOKEN IN UTAH (DESERET NEWS) MORE THAN

246

THOUSAND

SPANISH SPEAKERS

(U.S. CENSUS BUREAU)

Utah contains a

Multilingual

Population

RANKED

4

th

BEST STATE FOR VENTURE CAPITAL

(U.S. NEWS: BEST STATES RANKING)

WHY UTAH?

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P. 8

INVESTMENT OFFERING

PROVO, UTAH

Provo lies between the cities of Orem to the north and Springville to the south. With a population in 2020 of 128,905, and a median age of 23.7. Provo is one of the principal city in the Provo-Orem Metropolitan Area, which includes all of Utah and Juab counties. It is Utah’s second-largest metropolitan area after Salt Lake City. Provo is Utah's 3rd largest city.

In 2015, Forbes cited Provo among the “Best Small And Medium-Size Cities For Jobs,” and the Bureau of Labor Statistics found that Utah County had the year’s highest job growth in the state. In 2019, Forbes ranked Provo the #1 city in the nation for job growth and the #6 city on its list of Best Places for Business and Careers. Provo was ranked first for community optimism (2012) and first in health/well-being (2014).

Provo is home to Brigham Young University, a top technology transfer institution that has helped create a vibrant technology economy. The Provo-Orem region has placed outside the Top 25 in the annual Milken Institute report only once since 2008, and has ranked in the Top 3 for the last five years.

BYU is a major source of employment in the region, contributing significantly to the 24,000 jobs in educational services overall. The university also contributes to the vibrancy of the region by attracting students, who support consumer spending and have the opportunity to join the local workforce upon graduation.

Technology has been a major driver of economic growth in the Provo-Orem metro area. The region ranked 3rd among large metros for technology industry growth, adding roughly 5,500 jobs between 2011 and 2016. The Milken Institute ranked Provo-Orem #2 in the country for best performing large cities stating, the region has gained a solid reputation for hosting young startups due to strong support from local educational institutions and an accommodating lifestyle.

RANKED

6th

BEST PLACE FOR

BUSINESSES

& CARRERS

(FORBES)

RANKED

1st

IN THE NATION FOR

JOB GROWTH

(FORBES)

RANKED

3rd

BEST PLACE FOR

TECHNOLOGY

INDUSTRY

GROWTH

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INVESTMENT OFFERING

STANDARD FINISHES & CONSTRUCTION

PROVO / OREM HOUSING MARKET ANALYSIS

U.S. Department of Housing and Urban Development Office of Policy Development and Research

WASATCH FRONT OPPORTUNITY ZONES

QUALIFIED OPPORTUNITY ZONES

How They Work And How They Can Work For You

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997 EAST 1060 SOUTH PROVO, UTAH

INVESTMENT OFFERING MEMORANDUM

RARE OPPORTUNITY ZONE NEW CONSTRUCTION!

Gordon Jacobson

+1 801 597 5500

[email protected]

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