Investment Highlights

Undisputed Market Leader

Monarch 301 has consistently outperformed the market and is 100% occupied due to its irreplaceable location, superior asset quality, and unique attributes offering students the utmost level of luxury, convenience, and entertainment. This premier asset supplies its residents with the finest accommodations in the Statesboro submarket and is, undeniably, the best asset in the entire submarket. All units are individually and professionally designed with modern furniture and upscale features including 40-inch flat screens TVs, 100% bed/bath parity, granite countertops, and stainless steel appliances. Monarch 301 is the undisputed market leader that will continue seeing sustained revenue growth given its incredible proximity to campus and luxury differentiating features.

Zero Off-Campus Supply Pipeline

Monarch 301 occupancy is 100% and there are currently zero on- or off-campus student developments planned, underscoring the opportunity to push rental rates and significantly drive NOI at an asset that has consistently been stabilized.

Strong University Fundamentals

Monarch 301 is directly adjacent from campus. Georgia Southern University has over 20,500 students and is forecasted to grow by an additional 1,800 students by 2022. Strong enrollment growth coupled with its vastly expanding athletic program proves the GSU market to be fundamentally sound for the foreseeable future. Over the past 10 years, GSU has grown by an astounding 19.8%, highlighting the consistent demand in the Statesboro market.

Best-in-Class Amenities

The property boasts the highest caliber of amenities in the Statesboro market, including, but not limited to, a resort style pool, activity/club room with lounge areas, comfortable cabanas and lounge seating, and hammock gardens. Monarch 301’s clubhouse is the crown jewel of the Statesboro market, featuring a two-story design with a sports lounge, study rooms, see-through fireplaces, HDTV’s and a 24-hour state-of-the-art fitness center with private exercise room. Ownership benefits from being able to offer a best-in-class amenity package for new residents, whilst capitalizing on the tremendous renewal rate currently exhibited at the property.

Irreplaceable Location Steps from Campus

Sitting directly adjacent from GSU, Monarch 301’s location is unique, irreplaceable, and truly pedestrian. Students living at Monarch 301 have the extremely rare opportunity to walk to all classrooms, athletic facilities, and The Recreation Activity Center (RAC). RAC is directly adjacent to the property and a mainstay for GSU students, affording a unique market differentiator that no other asset in the market can compete with.

Community Amenities

PROPERTY PHOTOS

Best-in-Class Finishes

Monarch 301 is Statesboro's premiere student community, offering residents contemporary interior design in fully- furnished units. Upscale interior finishes include a 40-inch flat screen TV, Whirlpool stainless steel appliance package, dark espresso cabinetry, granite countertops, designer pendant lighting, faux wood plank flooring throughout, contemporary art work, oversized walk-in closets, and a full-size washer and dryer in every unit. The property offers a diverse mix of floor plans including one-, two-, and four-bedroom units with 100% bed to bath parity, and all four- bedroom units equipped with an impressive 4.5 baths - a feature that elevates Monarch 301 above direct competitors in the submarket.

Unit Mix

Floor Plans

AERIAL PHOTO

Georgia Southern University

Georgia Southern University (GSU) is a public university located on a 900-acre campus in Statesboro, Georgia (about one hour northwest of Savannah and three hours southeast of Atlanta). Founded in 1906 as a land grant college, it is part of the University System of Georgia and the largest center of higher education in the southern half of Georgia. The university had an enrollment of 20,418 degree-seeking students for the Fall 2017 school year.

With over 100 degree programs at the bachelor’s, master’s, and doctoral levels, GSU is classified as a Carnegie Doctoral-Research university and as a comprehensive university by the University System of Georgia. The university has a student-faculty ratio of 21 to 1 and an average class size of 42 for lower division courses, 25 for upper division, and 11 for graduate level. GSU is consistently recognized on a national level with several rankings including among the top 100 “2018 Best Online Bachelor’s Programs” by U.S. News & World Report and “Most Affordable Colleges in Georgia” by College Affordability Guide. The university boasts more than 250 student organizations, outstanding Division I Athletics, and state-of-the-art residence halls and campus facilities, including a brand- new Health Services building opened in January 2016.

City of Statesboro

Statesboro is the largest city and county seat in Bulloch County located in southeast Georgia. As of 2018, the Statesboro Micropolitan Statistical Area, which consists of Bulloch County, had an estimated population of 78,825 residents. The city itself had an estimated population of 30,359 in the 2018 census. Chartered in 1803 with humble beginnings as a small trading community, Statesboro is now best known as home of Georgia Southern University with a culture reflecting a blend of both its southern heritage and college town identity.

The city has developed a unique culture, common in many college towns, that coexists with the university students in creating an art scene, music scene, and intellectual environment. Statesboro is home to numerous restaurants, bars, live music venues, bookstores, and coffee shops that all cater to its creative college town climate. Named a “Renaissance City” by Georgia Trend magazine in 2013, the development and revitalization of Statesboro’s historic downtown is ongoing. The bustling downtown has been instrumental to city, county, and regional development enabling expansion in government, business, agriculture, education, and residential living.

Statesboro’s downtown is blossoming thanks in part to a million-dollar streetscape project along East Main Street, completed in 2012, that now invites visitors with mature trees and landscaping, decorative sidewalks and pedestrian crossings. This project was part of the city’s 2011 master plan offering a bold vision for downtown Statesboro, one rooted in an appreciation of downtown’s legacy within the history of Statesboro and seeks to ensure a vibrant and healthy downtown that continues to enrich Statesboro’s economic, social, and cultural foundations for generations to come. A new Fab Lab and Innovation Incubator, a joint venture between the city and Georgia Southern University, recently opened in two renovated downtown buildings at the university’s City Campus. It accommodates both student classrooms and business startups, and occupants share meeting spaces, software, 3-D printers and ideas.

Another notable is the revitalization of a segment of U.S. 301 South, now called the Blue Mile, because it connects Georgia Southern University – its school colors are blue and white – to downtown. In part due to this project, Statesboro recently won a $100,000 award as one of eight finalists in the America’s Best Communities competition. The top three cities were announced in April 2017, with Statesboro placing third and the recipient of a financial award of $1 million.

Map of Statesboro, GA