CX Evergreens at Mahan, DST

Located in the desirable northeast suburb of Tallahassee, Florida, the property is a 412-unit garden-style multifamily apartment complex with modern amenities and finishes. Evergreens at Mahan was built in two phases in 2005 and 2008, and includes 20 residential apartment buildings situated on 24.56 acres. The unit mix includes 200 one-bedroom units, 204 two-bedroom units and 8 three-bedroom units. Community amenities include a spacious well-appointed clubhouse with a newly renovated 24/7 fitness center, two resort-style pools, a grilling pavilion with picnic area, breathtaking nature views, a 24/7 WiFi cafe, and optional private garages and storage units.

As a capital city and a vibrant college town, Tallahassee attracts the highest percentage of Floridians moving to a new metropolitan area within their state as compared to any other Florida metropolitan area.* Annual population growth over the last decade is 0.75%, on par with the national average. Median household income grew at 2.9% annually since 2000, keeping pace with the state.** The average unemployment rate over the last economic cycle since 2008 was 5.7%13, among the lowest of Florida’s 22 metro areas.

Strong, resilient, industries (government, healthcare and education) retain and benefit from this highly educated workforce making these industries many of the top employers in the area. State, federal, and local government and associated agencies comprise nearly one-third of total employment. Public Administration, Educational Services, and Health Care/Social Assistance represent 15.6%, 14.3% and 13.4% of employment respectively.*** Historically, these sectors have been resilient to economic fluctuations.