CX Station at Clift Farm, DST
1031 Exchange/DST
Located in Madison, Alabama, The Station at Clift Farm is a 315-unit garden-style multifamily apartment complex with modern amenities and finishes. The Station at Clift Farm was built in 2021, and it includes four 4-story residential buildings situated on 11.75 acres. The unit mix includes 144 one-bedroom units, 139 two-bedroom units and 32 three-bedroom units. Property amenities include a luxurious clubhouse with relaxing lounge, cyber cafe with coffee station, resort-style salt water swimming pool, roof deck lounge and patio, 24-hour fitness center with wellness studio, poolside lounging cabana, fire pit, grilling area, concierge lockers and more.
The Huntsville MSA is the second-largest and second- fastest-growing MSA in Alabama. From 2010 to 2020, the Huntsville MSA grew 22.6% while Madison grew 41.3%. Over the same period, state and the nation grew 5.1% and 7.4%. While the state of Alabama has only seen annual average job growth around 1% between 2012 and 2022, the Huntsville MSA experienced consistent job growth averaging 2.1% per year. Over the last year, job growth in Madison was 3.6%. Median household incomes in the Huntsville MSA are higher than metropolitan areas in the rest of the state due to the large presence of science and technology jobs, and yet the cost of living is affordable compared to other high-income and similarly-talented metropolitan areas. High incomes, a low cost of living, and increasing demand for housing have contributed to rising, yet still attractive rents. Year-over-year rent growth in the Madison submarket was 11.0% as of February 2022 and have cumulatively risen 51.7% since 2012. In the Huntsville MSA, occupancy reached 97.7% in Q1 of 2022.*
Over the last decade, the Huntsville MSA has consistently recruited more and more talented workers. When it comes to technology jobs, the Huntsville MSA ranks fourth in the nation for the most technology jobs per capita, at 7.0%. The Huntsville MSA has the third-highest percentage of workers in STEM careers at 15.7%, which means it is home to around 40K STEM professionals, including almost 4,000 aerospace engineers. It is home to the second-largest research park in the United States, Cummings Research Center, which has over 300 companies. Top-scoring Huntsville city was named the number one place in America to pursue a STEM career by Livability Magazine. The Huntsville MSA provides a desirable quality of life, being named the most affordable out of 150 metropolitan areas. For its strong job market, its talented workforce, its high salaries, and its low prices, U.S. News and World
Report named the Huntsville MSA one of the best places to live in the nation.**
*U.S. Census. “Metropolitan and Micropolitan Statistical Areas Population Totals and Components of Change: 2020‐2021.” 24 Feb. 2022, p. 1, https://www.census.gov/data/tables/timeseries/
demo/popest/2020s‐total‐metro‐and‐micro‐statistical‐areas.html.
U.S. Census Bureau. “Table P1. Total Population.” 2020 Decennial Census Redistricting Data, https://www2.census.gov/programs-urveys/decennial/2020/data/, 2021, p. 1; and U.S. Census Bureau. “Table P1. Total Population.”
2010 Decennial Census Redistricting Data, https://www2.census.gov/census_2010/01-Redistricting_File–
PL_94-171/National/, 2011, p.1.
Stacker. “Fastest growing cities in Alabama.” WHNT News 19, 6 Feb. 2022, p. 1, https://whnt.com/news/fastest-growing-cities-in-alabama/.
Sperling’s Best Places. “Economy in Madison, Alabama.” 2022, p. 1, https://www.bestplaces.net/economy/city/alabama/madison.
CoStar. “Underwriting Report for Station at Clift Farm, 165 John Thomas Dr, Madison AL.” Generated 16. Feb. 2022, p. 105 & 108.
Axiometrics. “Market Performance Summary. Huntsville, AL. First Quarter 2022.” RealPage, Inc., 2021, p. 1.
**23 – *Among all mid- and large-size metros, greater than 350,000 residents. Spanning. “Cities with the Most
Technology Jobs Per Capita.” https://spanning.com/resources/industry-research/cities-with-most-technology-
jobs-per-capita/, 11 Jan. 2021, p. 4.
24 – Suneson, Grant, and Charles Stockdale. “STEM jobs are on the rise. Here are 15 cities hiring the most hightech
workers.” https://www.usatoday.com/story/money/business/2019/03/25/stem-jobs-15-cities-hiring-mosthigh-
tech-workers-us/39125247/, 25 Mar. 2019, p. 7.
25 – Hannum, Claire. “Why Huntsville Is the Best Place in America to Pursue a STEM Career.” Livability. https://
livability.com/al/huntsville/education-careers-opportunity/why-huntsville-is-the-best-place-in-america-to-pursue-
a-stem/, 13 Jun. 2018, p. 2.
26 – Hannum, Claire. “Why Huntsville Is the Best Place in America to Pursue a STEM Career.” Livability. https://
livability.com/al/huntsville/education-careers-opportunity/why-huntsville-is-the-best-place-in-america-to-pursue-
a-stem/, 13 Jun. 2018, p. 2.
27 – Hannum, Claire. “Why Huntsville Is the Best Place in America to Pursue a STEM Career.” Livability. https://
livability.com/al/huntsville/education-careers-opportunity/why-huntsville-is-the-best-place-in-america-to-pursue-
a-stem/, 13 Jun. 2018, p. 1.
28 – Vollers, Anna Claire. “Huntsville, AL.” U.S. News & World Report, 2022, p. 1-5, https://realestate.usnews.com/
places/alabama/huntsville.
29 – Vollers, Anna Claire. “Huntsville, AL.” U.S. News & World Report, 2022, p. 1-5, https://realestate.usnews.com/
places/alabama/huntsville.
There are risks associated with participating in the offering. An investment in the Trust is speculative and illiquid, and involves significant risks, including the possibility of losing all invested capital. This material does not constitute an offer to buy or sell any securities and is authorized for use only when accompanied by the Confidential Private Placement Memorandum of CX Station at Clift Farm, DST (the “Memorandum”). Reference is made to the Memorandum for a statement of risks and terms of the CX Station at Clift Farm, DST offering and qualifications and assumptions regarding forward-looking information. The information set forth herein is qualified in its entirety by the Memorandum. No person will be permitted to invest without acknowledging that they received the memorandum and completed their review including, but not limited to, the risk factors contained therein. Securities are being offered through Orchard Securities, LLC, member FINRA/SIPC. Orchard Securities and Carter Exchange are not affiliated
Company
Carter Exchange
Location
Madison, AL
Overview
Located in Madison, AL, part of the Huntsville market, Station at Clift Farm consists of 315 apartment homes with 1-, 2-, and 3-bedroom floorplans It’s centrally located and provides convenient access to major employers and a vibrant downtown.
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