4,482, % 4.6% -0.4% $53, % 343,458 Units (10+) 12,980 Units POPULATION ADOA, EBRC 2015 ESTIMATE UNIT PROPERTIES

Transcription

1 10+ UNIT PROPERTIES 1Q 2016 INCREASE/DECREASE 1Q 2015 Total Sales Volume $592M 13% $682M 4,482, % POPULATION ADOA, EBRC 2015 ESTIMATE A V E R A G E Price/Unit $84,882 20% $70,940 Price/SF $107 18% $90 Year Built yr 1980 $53, % MEDIAN HH INCOME ERBC, DOA, BEA ESTIMATE 4.6% -0.4% UNEMPLOYMENT AS OF MARCH Effective Rent $924 8% $855 Occupancy Rate 95.8% 0.5% 95.3% 12,980 Units 343,458 Units (10+) Units Delivered 1, % 220 UNDER CONSTRUCTION YARDI TOTAL INVENTORY AS OF MARCH 2016 PHOENIX MSA QUICK STATS UNEMPLOYMENT RATE MEDIAN INCOME 1Q 2016 AVG PRICE/UNIT (100+) 1Q 2016 AVG PRICE/UNIT (10-99) Phoenix 5.1% $46,881 $65,300 $56,455 Mesa 5.0% $48,259 $87,870 $35,886 Scottsdale 4.1% $72,455 $169,788 $131,038 Tempe 4.7% $48,183 $60,606 $82,759

2 100+ UNIT PROPERTIES Total Sales Volume Price/Unit Price/SF Year Built AVERAGE YE 2015 INCREASE/DECREASE YE 2014 $492M $109,479 $ % 21% 14% 2 yrs TOP 3 TRANSACTIONS BY PRICE/UNIT (100+) Bellagio Scottsdale, 202 Units $36,250,000 $179,455/unit $188.72/SF Built 1995 Salerno Scottsdale, 412 Units $68,000,000 $165,049/unit $176.95/SF Built 1996 Country Brook Chandler, 396 Units $64,500,000 $162,879/unit $169.14/SF Built 1986 $624M $90,640 $ Pre-1980 PRE NUMBER OF TRANSACTIONS BY YEAR BUILT Q 2016 Transactions by Year Built # of Transactions Avg Price/Unit Avg Price/SF 1 $135K $246 2 $111K $141 3 $158K $144 6 $114K $91 6 $65K $ UNIT PROPERTIES YE 2015 INCREASE/DECREASE YE Total Sales Volume AVERAGE Price/Unit Price/SF Year Built $100M $60,285 $ % 18% 23% $58M $51,240 $ PRE NUMBER OF TRANSACTIONS BY YEAR BUILT 17 TOP 3 TRANSACTIONS BY PRICE/UNIT (10-99) Aderra (96 of 312) Phoenix, 96 Units $15,046,000 $156,729/unit $151.91/SF Built 2008 The Winfield of Scottsdale Scottsdale, 95 Units $13,000,000 $136,842/unit $175.34/SF Built 1970 The Carolina on 5th Phoenix, 18 Units $1,650,000 $91,667/unit $166.06/SF Built Pre Q 2016 Transactions by Year Built # of Transactions Avg Price/Unit Avg Price/SF $146K $ $47K $69 38 $57K $82

3 SINGLE FAMILY RESIDENTIAL - FOR SALE/LEASE AVG SALES PRICE $267, %, YEAR-OVER-YEAR AVERAGE $290,000 $270,000 $250,000 MEDIAN SALES PRICE $215, %, YEAR-OVER-YEAR MEDIAN $230,000 $210,000 $190, Mar 15-Apr 15-May 15-Jun 15-Jul 15-Aug 15-Sep 15-Oct 15-Nov 15-Dec 16-Jan 16-Feb 16-Mar SFR SALES TRENDS SFR - FOR LEASE MONTHLY SALES 8, %, YEAR-OVER-YEAR +47.1%, MONTH-OVER-MONTH AVG DAYS ON MARKET 81-11, YEAR-OVER-YEAR -4, MONTH-OVER-MONTH 1Q 2016 Median Lease $: $1,300 Average Lease $: $1,440 Avg. Days on Market: 26 Rent Check Quotient : 3 : 10 1Q 2015 Median Lease $: $1,150 Average Lease $: $1,287 Avg. Days on Market: 39 Rent Check Quotient : 1 : 2 FORECLOSURES PENDING 4,188-26%, YEAR-OVER-YEAR +0.7%, MONTH-OVER-MONTH RENT Check Quotient (RCQ) is the ratio of closed rentals to closed sales. For example, 1:2 (one to two) would mean for every 1 rental, there are 2 closed sales. 1:1 (one to one) would mean that the number of closed rentals and closed sales are the same. ABI Research / ARMLS COPYRIGHT 2016 HOUSING PERMIT DATA - SFR/MF 1Q 2016 Total Permits 1Q 2015 Total Permits CHANGE (y-o-y) All: 5,892 4, % 1-Unit: 4,429 3, %

4 COMPLETED CONSTRUCTION Top 5 Completions (By # of Units) 1. Camden Chandler (#6 on Map) 380 Units North (#7 on Map) 344 Units Recently Completed (Past 3 Months) Total # of Units: 2,803 Total # of Properties: Residences at Fountainhead (#11 on Map) 328 Units 4. Trillium 44 (#12 on Map) 297 Units 8 5. Crescent Scottsdale Quarter (#13 on Map) 275 Units PHOENIX MULTIFAMILY CONSTRUCTION PIPELINE 1Q ,000 11,000 TOTAL UNIT INVENTORY 10+ UNIT PROPERTIES: 343, UNIT PROPERTIES: 286,500 10,000 9,000 8,533 8,644 9,315 Under Construction 8,000 7,000 6,375 6,294 6,385 7,261 7,663 6,902 Average: 5,120 Total # of Units: 12,980 Total # of Properties: 53 6,000 5,431 5,000 4,692 5,003 4,527 4,661 4,000 3,000 2,000 1,000 3,281 3,683 2,751 2, ,668 3,569 1,310 * Planned Total # of Units: 20,254 Total # of Properties: 80 0 * = Est. Actual Units Delivered. Project units delivered in 1Q 2016 is 2,803. Project units delivered is based on when the total project is completed, not as individual buildings/units are delivered

5 PHOENIX MSA EMPLOYMENT AND SELECT NEWS ARTICLES Northern Trust Opening $95M regional operations center in Tempe Hiring 1,000 ASU - Mesa Campus City of Mesa reveals likely site for ASU Campus Fry's Marketplace - Downtown Phoenix Fry s grocery store slated for planned downtown Phoenix development GCU continues massive campus expansion 3,000+ employees and 14,000+ students expected by 2020 SAP America SAP America Leased 40,000 sf at The Grand Papago Park Center development Relocating 275 employees State Farm Regional Headquarters: Brings total State Farm Phoenix area employment to 3, Healthcare LLC $30 million health campus breaks ground in Glendale set to bring 1,500 jobs at full buildout Aligned Data Centers partners with APS on new Phoenix data center, fmr Honeywell site at I-17 and Union Hills Dr Santander Consumer USA to hire 1,000+ workers for new regional operations center in Mesa s Fiesta District with avg salary of $51,000 Carlisle Companies Relocating company HQ to Kierland One moving 120 senior executives ADOT - Loop 303 Expansion Loop 303 south of I-10 becomes part of $83M Arizona Dept of Transportation project Mayo Clinic set to open $180M cancer-fighting center in March 2016 Macerich Macerich wants to add 1M SF at Scottsdale Fashion Square includes retail, residential and office Metro Light Rail Northwest Phoenix Light Rail Extension Opens IO Data Centers LLC IO plans $500 million expansion in Phoenix with new three-story data center City of Phoenix Phoenix reveals $118M plans for Hance Park in downtown

6 LARGEST DEDICATED MULTIFAMILY BROKERAGE TEAM IN ARIZONA OVER 100 YEARS OF COMBINED MULTIFAMILY BROKERAGE EXPERIENCE SEASONED ADVISORS WITH REGIONAL INSIGHT COLLABORATION & COOPERATION NOTABLE RECENT ABI MULTIFAMILY TRANSACTIONS 100+ UNIT PROPERTIES UNIT PROPERTIES LAKESIDE APARTMENT HOMES 855 North Dobson Road, Chandler, AZ VISTA SURENO APARTMENTS 4727 East Warner Road, Phoenix, AZ DESERT VILLA APARTMENTS 1826 North 51st Street, Phoenix, AZ QUAIL RUN CONDOMINIUMS East Gunsight Drive, Fountain Hills, AZ Price: $22,303,217 Units: 212 Units Year Built: 1987 Price: $18,406,481 Units: 186 Year Built: 1985 Price: $1,730,000 Units: 29 Units Year Built: 1981 Price: $1,680,000 Units: 21 Units Year Built: 1986 Apartment Brokerage & Advisory Firm ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. The experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. PHOENIX HEADQUARTERS JOHN KOBIEROWSKI SENIOR MANAGING PARTNER ALON SHNITZER SENIOR MANAGING PARTNER RUE BAX SENIOR MANAGING PARTNER DOUG LAZOVICK PARTNER EDDIE CHANG PARTNER PATRICK BURCH VICE PRESIDENT JOHN KLOCEK VICE PRESIDENT DISCLAIMER (C) 2016 ABI Multifamily The information and details contained herein have been obtained from third-party sources believed to be reliable; however, ABI Multifamily has not independently verified its accuracy. ABI Multifamily makes no representations, guarantees, or express or implied warranties of any kind regarding the accuracy or completeness of the information and details provided herein, including but not limited to the implied warranty of suitability and fitness for a particular purpose. Interested parties should perform their own due diligence regarding the accuracy of the information. SOURCES: ABI Research / ADOA / Bureau of Labor Statistics / Census Bureau / EBRC / HUD / Yardi / US Chamber of Commerce / Vizzda / ARMLS