INVESTMENT OVERVIEW

Northern Point is a 468-unit apartment complex located in Phoenix, Arizona, one of the fastest growing cities in the U.S.  The subject property is conveniently located within walking distance to shopping, schools, health clubs, medical centers and is adjacent to El Caro Golf Course.  Less than a mile to the west is Interstate 17 which connects all areas of the valley with the booming Metro Center Corridor.

The property consists of two and three story garden style apartment homes on approximately 13.48 acres.  The community was developed in 1979 and consists of a mix of 192 studios, 220 one-bedroom/one bath and 74 two-bedroom/one bath units.  The units range in size from 312 to 768-square feet.  There are five separate attractive courtyards with five inviting pool areas.

Attractive curb appeal compliments floor plans that are well designed.  Tenants enjoy spacious living areas, large walk-in closets, clean laundry rooms, lush mature landscaping, barbecue areas, playgrounds, lighted tennis courts, volleyball courts and a dedicated leasing office.  This property is one of three complexes comprising 924-units and available for $41,350,000 as a portfolio or individually.