Oak Point Townhomes

136 Units | Built 2000

St. Robert, MO

The Opportunity

Investment Highlights

  • Located Minutes Away from Fort Leonard Wood, One of the Largest & Most Diverse U.S. Military Bases in the Country
  • Offered Free and Clear
  • 100% Townhome Floor Plans
  • Excellent Community Amenities
  • Walking Distance to Retail / Shopping
  • 32 out of 136 units are LIHTC

The Opportunity

Berkadia is pleased to present the value-add opportunity to acquire Oak Point Townhomes, a 136-unit community located in St. Robert, Missouri. St. Robert is located two hours southeast of St. Louis and about 90 minutes northwest of Springfield, MO.

Oak Point is a well-performing, stabilized asset that was built in 2000 and is situated on approximately 8.6 acres of mature landscaping. The community features a desirable unit mix of two- and three-bedroom townhomes with a large average unit size of 1,024 square feet. Oak Point has been well-maintained during the Seller’s ownership period, and there is value-add opportunity for the next Owner with minor unit enhancements.

The property is under the Section 42 Low Income Housing Tax Credit program which restricts 32 of the 136 units at 50% AMI. Oak Point is currently in the extended use period (EUP) and the LIHTC buildings/units are fixed. The initial tax credit compliance period (TCCP) ended 6/11/2016 and the final year of the LIHTC restrictions is 6/11/2031. There is additional value-add opportunity to remove the rent restriction on the 32 units and increase those to market-rate rents.

Oak Point can be purchased either free and clear or with the existing, assumable HUD loan. The current balance is $6,133,215 (as of 2/1/2019). The loan was originated in October 2011, has an interest rate of 3.95% (exclusive of 45 bps MIP), and matures in November 2046.

Investment Advisors

KEN ASTON

Managing Director

Ken.Aston@berkadia.com

314.984.5590

MO License #2013008591

MICHAEL SULLIVAN

Senior Director

Michael.Sullivan@berkadia.com

816.759.0369

MO License #2006007641

ALEX BLAGOJEVICH

Managing Director

Alex.Blagojevich@berkadia.com

312.845.3088

ANDREA KENDRICK

Senior Director

Andrea.Kendrick@berkadia.com

314.984.5591

MO License #2007030450

PATRICK SULLIVAN

Director

Patrick.Sullivan@berkadia.com

816.759.0365

MO License #2015009451

St. Louis Office

101 South Hanley, Suite 550

Clayton, MO 63105

Phone: 314.984.5500

Berkadia.com

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
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