The Village at Thatcher
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Investment Overview
The Village at Thatcher Patio Homes | 90 Unit Community
MULTIFAMILY INVESTMENT GROUP
Luke Ikard
Justin Lanne
NAI First Valley +1 575 64`0 2722 [email protected]
Managing Director +1 520 907 3470 [email protected]
Executive Summary
Investment Highlights The Village at Thatcher Patio Homes is a 90 Unit unique single story rental community consisting of 13.9 units to the acre. The property is a low maintenance complex with palm juniper and pecan trees with walkways throughout the highly grassed area. Across the street from Eastern Arizona Community College, The Village at Thatcher has 440 feet of frontage on College Ave. • Unique Single Story 1 & 2 Bedroom Apartments, 82 2BD/1BA, 8 1BD/1BA • 22 Buildings Consisting of 4 Units per Building and 1 Duplex • Property is 6.5 Acres, 13.85 units per acre density • Beautiful, low maintenance landscape
Luke Ikard
Justin Lanne
NAI First Valley +1 575 640 2722 [email protected]
NAI Horizon +1 520 907 3470 [email protected]
Disclaimer All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions prior to sale or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.
Property Information
The Village at Thatcher
The Village at Thatcher Patio Homes is a 90 Unit single story, low density per acre ( 13.85) community located across the street from Eastern Arizona College located in Thatcher/Safford, Southeastern Arizona. 565 College Ave, Thatcher AZ, 85552 CONSTRUCTION
Single story patio style homes apartment homes, slump block construction and flat roofs. Unit mix 82 Two Bedroom-One Bathrooms and 8 One Bedroom-One Bath. Net rentable square feet- 60,426.
LIST PRICE
$3,950,000
CAP RATE
10.2%
TERMS
Cash or Cash to New Loan
NET RENTABLE SF
60,426 SF
YEAR BUILT
1963
LAND AREA
6.5 Acres
PRICE/UNIT
$43,888.89
TOTAL UNITS
90
1 BED / 1 BATH
8
2 BED / 1 BATH
82
ELECTRICITY
Graham County Electric
GAS
Thatcher Muncipal
CABLE
Cable One
MULTIFAMILY INVESTMENT GROUP
The Village at Thatcher
SUBJECT
MULTIFAMILY INVESTMENT GROUP
Property Photos
MULTIFAMILY INVESTMENT GROUP
The Village at Thatcher
Property Photos
MULTIFAMILY INVESTMENT GROUP
The Village at Thatcher
About Thatcher/Safford
The Village at Thatcher
Thatcher/Safford is located in Southeastern Arizona, part of Graham County, Less than two hours from the state’s major cities of Tucson and Phoenix. Tucson is ~1.5 hours driving time(129 Miles) and Phoenix is ~ 2.5 hours (166 Miles). Major Employers:
Population 2012: Graham County:
37,416
Safford:
9,479
Thatcher:
4,890
Transportation: Roads: US 191 & US 70 Air: Safford Municipal Regional Airport Bus: Greyhound Bus Service Medical: Mt. Graham Regional Medical Center, 59 Beds Tourism: Mt. Graham Mountains, Salt River Canyon, Salsa Trail, Aravaipa Canyon Wilderness Area, Hot Well Dunes
*Freeport- McMoRan Copper Mining- 3,800 Employees Eastern Arizona College Mt Graham Regional Medical Center Federal Correctional Institution *Freeport-McMoRan: Morenci, Copper Mine is 50 miles from Thatcher, 3,100 Employees, one of the world’s largest open pit Copper Mines in the world, targeted to produce 900 million pounds of Copper in 2014, a 40% increase from 2013. Safford Copper Mine, eight miles from Thatcher, employs 700 people. Construction of the mine began in 2006 and full production occurred in 2008. 151 million pounds of Copper extracted in 2011. Proven Reserves of 1.6 billion pounds. Morenci and Safford operations Total Indirect Economic Impact on Graham and Greenlee County is $415 million in 2013.
Impact
The Village at Thatcher
Freeport-McMoRan’s Morenci and Safford operations generated an estimated $415 million in economic benefits for Greenlee and Graham Counties and approximately $1.2 billion for Arizona in 2013. Freeport-McMoRan contributes in many ways to the sustainability of the various communities, counties and states in which they operate. They rely heavily on the economic benefits directly and indirectly provided by our various operations in the form of wages and taxes we pay as well as the goods and services we purchase. This direct spending ripples through the economy, inducing additional economic benefits and contributing to more jobs and greater tax revenues. At the end of 2013, Freeport-McMoRan had over 2,800 employees at Morenci and close to 700 at Safford and combined ,the Morenci and Safford operations had total impact of approximately 13,300 jobs on Arizona’s economy.
$415 Million
$1.2 Billion
Freeport Ramps Up Copper Production in U.S.
The Wall Street Journal 07.23.14
Phoenix-based Freeport, one of the world’s top copper producers, posted stagnant second-quarter profit as the global slowdown in economic growth nibbled at the bottom lines of companies that mine essential commodities such as iron ore and copper. Net profit was $482 million, the same as a year earlier. Earnings per share declined slightly to 46 cents from 49 cents. Freeport’s revenue increased 29% to $5.52 billion from $4.29 billion, boosted by recent investments in U.S.-focused oil and gas businesses. The company recently acquired McMoRan Exploration and Plains Exploration & Production, sold its Eagle Ford shale business for $3.1 billion, and invested in Gulf of Mexico exploration. The company removed “Copper & Gold” from its formal title, effective July 14. But Freeport’s main business is still copper, which it mines in the U.S., Chile, Peru, the Democratic Republic of Congo and Indonesia. The basically flat copper business can be attributed to slowing demand for the metal, which is used to make wires and pipes in everything from cars to new homes. Freeport’s average realized price for the quarter was $3.16 a pound, compared with $3.17 a pound in the second quarter of 2013. Despite a recent decline, that is still five times the prices of 15 years ago, and plenty to make a profit with cash costs consistently under $2 a pound. Copper production for the quarter totaled 931 million pounds, up from 909 million pounds a year ago. The share of that mined in the U.S.--at five mines in Arizona and two in New Mexico—increased 13% to 395 million pounds from 349 million pounds. “With copper prices over three bucks a pound, expanding here, where they have low costs and can expand production, is a no-brainer,” says Charles Bradford, an analyst with Bradford Research Inc. The centerpiece of expansion efforts in the U.S. is Morenci, a sprawling 65,000-acre complex in the dusty hills of Eastern Arizona on the border with New Mexico. An expanded mill started producing in the second quarter and “full rates” of production are expected by the end of 2014, Freeport said. Morenci is expected to produce almost a billion pounds of copper a year by 2015, making it one of the world’s biggest mines, up from 564 million pounds in 2013. Freeport said it had reduced its quarterly cost per pound of production in the U.S. to $1.70 from $1.92. By comparison, its cost per pound in Latin America, where it mines in Chile and Peru, increased to $1.60 from $1.54. “We have a flexible workforce that is much more flexible [in the U.S.],” Chief Executive Richard Adkerson said in an interview earlier this year. “You can employ people without having the kinds of restrictive labor laws you have in other places,” he says. “In Indonesia and the [Democratic Republic of Congo], it’s very difficult, once you hire people, to adjust, you have labor unions there.” In the U.S., “we don’t have labor unions here except in one operation, the workforce here is flexible, and compared to Latin America, the costs are competitive.” As its U.S. business prospers, Freeport remains mired in a dispute with the Indonesian government over export taxes that has forced it to reduce production and lay off workers. Chairman James Moffett said the company was “encouraged by our discussions with the Indonesian government toward reaching a near-term agreement to enable resumption of” exports.
Floor Plans
The Village at Thatcher
2 bed / 1 bath - 685 SF
1 bed / 1 bath - 532 SF
MULTIFAMILY INVESTMENT GROUP
The Village at Thatcher
Area Map
SUBJECT
MULTIFAMILY INVESTMENT GROUP
NAI Horizon Commercial Real Estate Services 2900 N Swan Road Suite 200 Tucson, Arizona 85712 +1 520 326 2200
naihorizon.com
Investment Overview
The Village at Thatcher Patio Homes | 90 Unit Community
MULTIFAMILY INVESTMENT GROUP
Luke Ikard
Justin Lanne
NAI First Valley +1 575 64`0 2722 [email protected]
Managing Director +1 520 907 3470 [email protected]
Executive Summary
Investment Highlights The Village at Thatcher Patio Homes is a 90 Unit unique single story rental community consisting of 13.9 units to the acre. The property is a low maintenance complex with palm juniper and pecan trees with walkways throughout the highly grassed area. Across the street from Eastern Arizona Community College, The Village at Thatcher has 440 feet of frontage on College Ave. • Unique Single Story 1 & 2 Bedroom Apartments, 82 2BD/1BA, 8 1BD/1BA • 22 Buildings Consisting of 4 Units per Building and 1 Duplex • Property is 6.5 Acres, 13.85 units per acre density • Beautiful, low maintenance landscape
Luke Ikard
Justin Lanne
NAI First Valley +1 575 640 2722 [email protected]
NAI Horizon +1 520 907 3470 [email protected]
Disclaimer All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions prior to sale or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.
Property Information
The Village at Thatcher
The Village at Thatcher Patio Homes is a 90 Unit single story, low density per acre ( 13.85) community located across the street from Eastern Arizona College located in Thatcher/Safford, Southeastern Arizona. 565 College Ave, Thatcher AZ, 85552 CONSTRUCTION
Single story patio style homes apartment homes, slump block construction and flat roofs. Unit mix 82 Two Bedroom-One Bathrooms and 8 One Bedroom-One Bath. Net rentable square feet- 60,426.
LIST PRICE
$3,950,000
CAP RATE
10.2%
TERMS
Cash or Cash to New Loan
NET RENTABLE SF
60,426 SF
YEAR BUILT
1963
LAND AREA
6.5 Acres
PRICE/UNIT
$43,888.89
TOTAL UNITS
90
1 BED / 1 BATH
8
2 BED / 1 BATH
82
ELECTRICITY
Graham County Electric
GAS
Thatcher Muncipal
CABLE
Cable One
MULTIFAMILY INVESTMENT GROUP
The Village at Thatcher
SUBJECT
MULTIFAMILY INVESTMENT GROUP
Property Photos
MULTIFAMILY INVESTMENT GROUP
The Village at Thatcher
Property Photos
MULTIFAMILY INVESTMENT GROUP
The Village at Thatcher
About Thatcher/Safford
The Village at Thatcher
Thatcher/Safford is located in Southeastern Arizona, part of Graham County, Less than two hours from the state’s major cities of Tucson and Phoenix. Tucson is ~1.5 hours driving time(129 Miles) and Phoenix is ~ 2.5 hours (166 Miles). Major Employers:
Population 2012: Graham County:
37,416
Safford:
9,479
Thatcher:
4,890
Transportation: Roads: US 191 & US 70 Air: Safford Municipal Regional Airport Bus: Greyhound Bus Service Medical: Mt. Graham Regional Medical Center, 59 Beds Tourism: Mt. Graham Mountains, Salt River Canyon, Salsa Trail, Aravaipa Canyon Wilderness Area, Hot Well Dunes
*Freeport- McMoRan Copper Mining- 3,800 Employees Eastern Arizona College Mt Graham Regional Medical Center Federal Correctional Institution *Freeport-McMoRan: Morenci, Copper Mine is 50 miles from Thatcher, 3,100 Employees, one of the world’s largest open pit Copper Mines in the world, targeted to produce 900 million pounds of Copper in 2014, a 40% increase from 2013. Safford Copper Mine, eight miles from Thatcher, employs 700 people. Construction of the mine began in 2006 and full production occurred in 2008. 151 million pounds of Copper extracted in 2011. Proven Reserves of 1.6 billion pounds. Morenci and Safford operations Total Indirect Economic Impact on Graham and Greenlee County is $415 million in 2013.
Impact
The Village at Thatcher
Freeport-McMoRan’s Morenci and Safford operations generated an estimated $415 million in economic benefits for Greenlee and Graham Counties and approximately $1.2 billion for Arizona in 2013. Freeport-McMoRan contributes in many ways to the sustainability of the various communities, counties and states in which they operate. They rely heavily on the economic benefits directly and indirectly provided by our various operations in the form of wages and taxes we pay as well as the goods and services we purchase. This direct spending ripples through the economy, inducing additional economic benefits and contributing to more jobs and greater tax revenues. At the end of 2013, Freeport-McMoRan had over 2,800 employees at Morenci and close to 700 at Safford and combined ,the Morenci and Safford operations had total impact of approximately 13,300 jobs on Arizona’s economy.
$415 Million
$1.2 Billion
Freeport Ramps Up Copper Production in U.S.
The Wall Street Journal 07.23.14
Phoenix-based Freeport, one of the world’s top copper producers, posted stagnant second-quarter profit as the global slowdown in economic growth nibbled at the bottom lines of companies that mine essential commodities such as iron ore and copper. Net profit was $482 million, the same as a year earlier. Earnings per share declined slightly to 46 cents from 49 cents. Freeport’s revenue increased 29% to $5.52 billion from $4.29 billion, boosted by recent investments in U.S.-focused oil and gas businesses. The company recently acquired McMoRan Exploration and Plains Exploration & Production, sold its Eagle Ford shale business for $3.1 billion, and invested in Gulf of Mexico exploration. The company removed “Copper & Gold” from its formal title, effective July 14. But Freeport’s main business is still copper, which it mines in the U.S., Chile, Peru, the Democratic Republic of Congo and Indonesia. The basically flat copper business can be attributed to slowing demand for the metal, which is used to make wires and pipes in everything from cars to new homes. Freeport’s average realized price for the quarter was $3.16 a pound, compared with $3.17 a pound in the second quarter of 2013. Despite a recent decline, that is still five times the prices of 15 years ago, and plenty to make a profit with cash costs consistently under $2 a pound. Copper production for the quarter totaled 931 million pounds, up from 909 million pounds a year ago. The share of that mined in the U.S.--at five mines in Arizona and two in New Mexico—increased 13% to 395 million pounds from 349 million pounds. “With copper prices over three bucks a pound, expanding here, where they have low costs and can expand production, is a no-brainer,” says Charles Bradford, an analyst with Bradford Research Inc. The centerpiece of expansion efforts in the U.S. is Morenci, a sprawling 65,000-acre complex in the dusty hills of Eastern Arizona on the border with New Mexico. An expanded mill started producing in the second quarter and “full rates” of production are expected by the end of 2014, Freeport said. Morenci is expected to produce almost a billion pounds of copper a year by 2015, making it one of the world’s biggest mines, up from 564 million pounds in 2013. Freeport said it had reduced its quarterly cost per pound of production in the U.S. to $1.70 from $1.92. By comparison, its cost per pound in Latin America, where it mines in Chile and Peru, increased to $1.60 from $1.54. “We have a flexible workforce that is much more flexible [in the U.S.],” Chief Executive Richard Adkerson said in an interview earlier this year. “You can employ people without having the kinds of restrictive labor laws you have in other places,” he says. “In Indonesia and the [Democratic Republic of Congo], it’s very difficult, once you hire people, to adjust, you have labor unions there.” In the U.S., “we don’t have labor unions here except in one operation, the workforce here is flexible, and compared to Latin America, the costs are competitive.” As its U.S. business prospers, Freeport remains mired in a dispute with the Indonesian government over export taxes that has forced it to reduce production and lay off workers. Chairman James Moffett said the company was “encouraged by our discussions with the Indonesian government toward reaching a near-term agreement to enable resumption of” exports.
Floor Plans
The Village at Thatcher
2 bed / 1 bath - 685 SF
1 bed / 1 bath - 532 SF
MULTIFAMILY INVESTMENT GROUP
The Village at Thatcher
Area Map
SUBJECT
MULTIFAMILY INVESTMENT GROUP
NAI Horizon Commercial Real Estate Services 2900 N Swan Road Suite 200 Tucson, Arizona 85712 +1 520 326 2200
naihorizon.com
