Points to consider: 1. We have a debt quote from CBRE (attached) that offers $11,822,000 in loan proceeds with an interest rate of between 5.4 and 5.65%, with three years interest only payments. At a price of up to even $15.75 this represents an LTV of 75% and a 20.26% IRR on a five year hold with conservative rent projections. With the FED signalling last week two rate cuts before the end of the year, this rate could easily fall into the low 5% range. A new owner should be looking at analmost 100 bps spread on cap rate to interest rate on this purchase going into an A Quality area with upside in one of the fastest growing markets in the US. I have seen this kind of deal since 2017 in Huntsville. 2. Based on the attached T-12 and Rent Roll, an offer with a $15.75 million price equates to a 6.34% Cap rate, a 75% LTV loan, and a 9% CoC return YEAR 1. 3. The Pointe at Bailey Cove is in a A-Quality area featuring an AMI of $97,000 and high quality shopping and dining options that continue to multiply. This location has seen ZERO new construction and is largely insulated from new construction rent pressures due to the high cost of land in the area and the in-fill nature of the location. 3b. PBC is also an institutionally built asset, built by a national builder to well above average standards (the used all copper 8 years before it was mandated). I've had people tour tell me it looks more like late 80s product more than early 70s. They have pvc and copper on the plumbing, too, and the only issue they've had for the last two years is replacing a grinder pump. And it's been owned by two institutional level investors over the last 15 years--groups who still own 70s assets, as well as newer assets. You aren't going to run into a ton of aging materials at the property, it's been extraordinarily well maintained. 4. The Seller has renovated 44 units at the property and is currently achieving a rent premium of between $140 and $200 on these renovated units. This showcases a proven value add that promises the next owner a 20%+ ROI on the renovation of more units during their ownership and a significant increase in revenue and valuation. https://buildout.com/website/Pointe-at-Bailey-Cove