CX Evergreens at Mahan, DST
1031 Exchange/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.
*U.S. Census Bureau, American Community Survey, Metro Area-to-Metro Area Migration Flows: 2014-2018
**SitesUSA, Complete Profile, 2000-2010 Census, 2020 Estimates with 2025 Projections: Tallahassee; Florida; and USA ***Environmental Systems Research Institute, Table: Employment by Industry, from
CBRE Property Appraisal, p.40
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 Evergreens at Mahan, DST (the “Memorandum”). Reference is made to the Memorandum for a statement of risks and terms of the CX Evergreens at Mahan, 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
Tallahassee, FL
Overview
Evergreens at Mahan is located in Tallahassee, FL, and is a garden-style multifamily property with 412 apartment homes. The property is centrally located with convenient access to major employers, the seat of state government, a historical downtown, and numerous outdoor activities.
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