WOODBRIDGE PLACE
Invest with Azimuth Equity Partners
Why We Like This Deal
- When purchased, the rents were an average of $265 below market rents.
- There was a strong opportunity to fill a void in the market for a B+ apartment.
- Woodbridge Place Apartments is less than 3 miles from Deaconess Midtown Hospital and 4 miles from other large manufacturing employers.
Natural Appreciation
Pro Business Climate
- #9 Business Tax Climate
- Landlord Friendly
- Long history of balanced state budget and cash reserves
Excellent Location
- 3rd largest city in Indiana
- Within a day’s drive of 75% of the US and Canadian populations
- Warmer climate vs. the rest of Indiana
- $200M investment to connect I69 to Kentucky
Job & Income Growth
- Toyota announced 1400 jobs
- August 2021 unemployment rate 4.2% (U.S. is 5.2%)
- Stable base of healthcare and manufacturing jobs
- Payroll job growth 4.6% over the past 5 years (U.S. is 1.1%)
Strong Rental Market
- 7% effective rent growth year over year
- Record low market vacancy at <4.5%
- 25% forecast rent growth over the next 5 years.
