Featherstone

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale, Featherstone Apartments, a 147-unit HAP/LIHTC property located in the Omaha suburb of Council Bluffs. 69% of the property’s units benefit from Option 1 HAP Contract rental subsidies, offering a hedge against inflation and rent volatility. The property is well positioned within its rental submarket, with eligible units having a $160 to $200+ discount compared to market rate rents and a projected proforma rent growth of 50% for HAP rents and 6% for LIHTC rents. The Council Bluffs submarket reports 95% occupancy rates and 5% submarket average year over year asking rent growth. The Property is well located in close proximity to Omaha, leading employers, universities, and major thoroughfares. It provides investors with strong rental demand in a growing metropolitan area, and at the same time offers the residents the benefits of lower cost of living and easy access to Omaha's amenities and expanding job market.