Albany Landings

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					                                                                                                                                                                                                                                    OFFERING SUMMARY
                                                                                                                                                                                                                                     WESTERVILLE, OHIO

	               AREA	MAP

                                                                                                                                                                                                          Albany Landings
	               Columbus,	Ohio

                                                   SR              71

                                                                                            161       Central College Ave.

                                                                                                                                 Hamilton Rd.
                                                                                                                 Warner Rd.
                             I                                                                      Albany Landings
                            70                                                                        Apartments
                                                                                                                              To New Albany


                                                  I           SR
                                                 71           23

                470	Olde	Worthington	Road,	Suite	101
                Westerville,	Ohio	43082
                Phone:	614.540.2404
                Fax:	614.540.2406	
                We	believe	this	information	to	be	reliable,	but	we	make	no	representations	or	
                warranties,	expressed	or	implied,	as	to	the	accuracy	of	the	information.
                References	to	square	footage	are	approximate.	Buyer	must	verify	the	information	
                and	bear	all	risk	for	any	inaccuracies.	Neither	the	owner/developer	nor	the
                Realtor®	guarantees	the	market	conditions	or	the	performance	of	this	investment.
                Photos	are	representative	of	buildings	at	Albany	Landings	Apartments.


                                                                                                                                                Albany Landings Apartment complex is a 272-unit community nestled in the picturesque
                                                                                                                                                town of Westerville, Ohio. The site has excellent access to the intersections of State
                                                                                                                                                Route 161 and Hamilton Road (State Route 317). The site is conveniently situated in an
                                                                                                                                                emerging, strong suburban apartment market. New Albany, Ohio, is the corporate head-
                                                                                                                                                quarters for the Limited Brands, Victoria’s Secret, Express, and Bath and Body Works.

                                                                                                                                                New construction began in 2009 and completion expected in 2010. Resort-style ameni-
                                                                                                                                                ties in this community feature a 5,000 square foot clubhouse with community room, fitness
                                                                                                                                                center, tanning bed, movie theatre, and a resort-style swimming pool. Albany Landings
                                                                                                                                                is located within an excellent growth corridor which includes the surrounding communi-
                                                                                                                                                ties of Gahanna and New Albany. Its prime location is also just minutes to Easton Town
                                                                                                                                                Center. This premier shopping destination offers a wide assortment of upscale stores,
                                                                                                                                                unique shops, casual eateries, elegant fine dining and a variety of entertainment options.

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                Albany Landings
	               PRICE	SUMMARY                                                                  	LOCATION	HIGHLIGHTS                                                                                                                                      Breezeway
	               Price	per	Unit	–	Breezeway/Vistas                                              •	 	 ity	of	Westerville	was	named	the	“15th	Most	Affordable	City	
                                                                                                  C                                                                                                                                                      Breezeway	Premier
	               One	Bedroom/One	Bath	       $53,000/$60,000                                       Where	You	Can	Live	Well”	by	MONEY	Magazine.                                                                                                            Vista                                                                             PHASE 3
                                                                                                                                                                                                                                                                                                                                           PHASE 2
	               Two	Bedroom/One	Bath							 $63,000/$67,500                                    •	 	 ear-by	convenience	to	Easton	Town	Center,	the	premier	shopping,	
                                                                                                  N                                                                                                                                                      Vista	Premier
	               Two	Bedroom/One	Bath	(P)			$65,000/$68,500	                                       dining	&	entertainment	destination	in	Central	Ohio.				                                                                                                Garages
	               Two	Bedroom/Two	Bath							 $65,000/$69,500                                    •	 	 0	minutes	to	The	Ohio	State	University	
                                                                                                  2                                                                                                                                                      Clubhouse
	               Two	Bedroom/Two	Bath	(P)	 $67,500/$72,500                                      •	 	 inutes	from	major	employers	including:	The	Limited	Brands,	
                                                                                                  M                                                                                                                                                      Bike	Path
                                                                                                  Express,	Victoria’s	Secret,	Bath	and	Body	Works;	Discover;	The	Ohio	

                                                                                                                                                                                                                                  WARNER ROAD
	               Note:	(P)	Indicates	Premier	Units	with	patio	or	balcony
                                                                                                  State	University;	Defense	Construction	Supply	Center;	State	of	Ohio
	               PROPERTY	SUMMARY                                                                  E
                                                                                               •	 	 asy	access	to	I-71,	270	Outer	belt,	and	State	Route	161,	New	
                                                                                                  Albany	Expressway                                                                                                                                                                                                   PHASE 2
	               Albany	Landings	Apartments	                                                       1
                                                                                               •	 	 0	minutes	to	Port	Columbus	Airport                                                                                                                                                                                PHASE 1
	               Franklin	County	                                                               •	 	 0	minutes	to	Downtown	Columbus
                                                                                                                                                                                                                                                                                                                                                                                                                 NATURE PRESERVE
	               5500	Bilberry	Lane,	Westerville,	Ohio	43081
	               Parcel	Number:	010-252430	
                                                                                               	DEMOGRAPHIC	REPORT
	               Managed	by	Ardent	Property	Management                                                                                                                                                                                                                  POOL

                                                                                               Population	–	City	of	Westerville,	Ohio
	               Site	Description	                                                              2000	Population	                                                                          35,318	 	   	                                                                CLUBHOUSE

	               Number	of	Units	                        272	units	                             2005	Population	                                                                          38,703
                                                                                               Population	Growth	since	2000	                                                               10%                                                  BILBERRY LANE
	               Number	of	Buildings	                    17
	               Number	of	Stories	                      Two	Stories	                           Estimated	Population	–	2010	                                                              43,769
	               Year	Built	                             2009	-2010                             Population	Growth	–	2005-2010	                                                              13%
                                                                                               2005	Households	                                                                          14,474
	               Construction	                                                                  2010	Projected	Households	                                                                16,474
	               Foundation	                             Monolithic	Footer	w/Slab	on	Grade	     Median	Age	     	                                                                           38.7                                                                                                                                                                               VISTA	A	794	Sq.	Ft.
	               Framing	                                Wood	Stud	                             Median	Household	Income	–	2005	                                                          $84,223          	   UNIT	MIX                                                                                                                                                         One	Bedroom	•	One	Bathroom

	               Exterior	                               Brick	&	Vinyl	Siding		                 Median	Housing	Value	–	2005	                                                            $201,906          	   	      	                             	                       	               Total	              Asking	              Asking	             Income
	               Roof	                                   Asphalt	Shingles                                                                                                                                 	   Units	 Unit	type	                    	                    Sq.	Ft.	          Sq.	Ft.		           Rate/Unit	          Rate/Sq.	Ft.	        Potential                           11’-2”x7’-9”

	               Surface	                                Asphalt	&	Concrete                     	AMENITIES                                                                                                	   12	     Breezeway	1BD/1BA	                                 	677		           	8,124		              	$645		             	$0.95		          	$92,880	
                                                                                               •	 Spacious	clubhouse	with	kitchen		        •	Resort-style	swimming	pool                                  	   12	     Breezeway	1BD/1BA	(P)	                             	677		           	8,124		              	$665		             	$0.98		          	$95,760	
	               Unit	Description	
                                                                                               •	 State-of-the-art	12-seat	theater	room			 •	24-hour	fitness	center	                                     	   4	      Breezeway	2BD/1BA	                                 	933		           	3,732		              	$720		             	$0.77		          	$34,560	
                	 ll-Electric	units	have	living	room,	kitchen,	walk-in	closet,	washer/
                                                                                               •	Nature	Preserve	&	walking	trail	          •	Tanning	Bed	                                                                                                                                                                                                                                     15’-7”x15’-1”
                dryer	connection,	and	mini-blinds.	Kitchen	appliances:	refrigerator,	                                                                                                                    	   4	      Breezeway	2BD/1BA	(P)	                             	933		           	3,732		              	$735		             	$0.79		          	$35,280	
                range,	dishwasher,	disposal.		                                                                                                                                                           	   8	      Breezeway	2BD/2BA		                                	933		           	7,464		              	$735		             	$0.79		          	$70,560	                                                            13’-9”x10’-7”

                                                                                                                                                                                                         	   8	      Breezeway	2BD/2BA	(P)	                             	933		           	7,464		              	$760		             	$0.81		          	$72,960	                                    Patio
	               Utilities	                                                                                                  REAR PORCH

                                                                                                                                                                                                         	   20	     Vista	1BD/1BA	                                     	794		         	15,880		               	$695		             	$0.88		        	$166,800	
	               Water	                                  	 aid	by	occupant	
                                                                                                                                                                                                         	   28	     Vista	1BD/1BA	(P)	                                 	794		         	22,232		               	$705		             	$0.89		        	$236,880	                 VISTA	B	1,046	Sq.	Ft.
                                                        Columbus	&	Central	Ohio	Systems	                                                            KITCHEN                                                                                                                                                                                                                   Two	Bedrooms	•	Two	Bathrooms
	               Electric	                               American	Power	&	Light	                                                                                             EXERCISE                     	   56	     Vista	2BD/1BA	                                     	933		         	52,248		               	$765		             	$0.82		        	$514,080	
	               Phone		                                 AT&T	                                                                                                   TANNING                                  	   48	     Vista	2BD/1BA	(P)	                                 	933		         	44,784		               	$775		             	$0.83		        	$446,400	                            9’-8”x7’-9”       8’x7’-9”

                                                                                                                                                                  MEN                                    	   44	     Vista	2BD/2BA	                                   	1,046		         	46,024		               	$775		             	$0.74		        	$409,200	
                                                                                                                                                                                                         	   28	     Vista	2BD/2BA	(P)	                               	1,046		         	29,288		               	$795		             	$0.76		        	$267,120		
	               HVAC	                                   Independent	Forced	Air	Units	                                       CLUBROOM

	               Fire	Protection	                        Smoke	Detector/Fire	Sprinkler		                                                                          WOMEN                                   	   Total	 	                             	                   	Average	          Total	               Average	             Average	                Total	
                                                                                                                                                                          THEATER                        	   272	 	                               	                    	916		         	249,096		              	$748		             	$0.82	 $2,442,480	                                        14’-1”x15’
	               Schools	                                                                                                                                                                                 	   68	     Detached	Garages	                                    	                 	                     $55	                 	              $44,880	
	               School	District		                       Columbus	Public	Schools
                                                                                                               OFFICE 1       ENTRY      OFFICE 2
                                                                                                                                                    COPY ROOM

	               Elementary	                             Avalon	Elementary	                                                                                                                               	   	Yearly	Gross	Potential	Income	                              	                 	                            	             	         $2,487,360                                     Patio
                                                                                                                                      FRONT PORCH
	               Middle	School	                          Woodward	Park	Middle	School	
	               High	School	                            Beechcroft	High	School
                                                                                                                              Clubhouse	Floorplan                                                            BREEZEWAY	A	677	Sq.	Ft.                                              BREEZEWAY	B	933	Sq.	Ft.                                                           BREEZEWAY	C	933	Sq.	Ft.
                                                                                                                                                                                                             One	Bedroom	•	One	Bathroom                                           Two	Bedrooms	•	One	Bathroom                                                       Two	Bedrooms	•	Two	Bathrooms

	               TAX	SUMMARY
                                                                                                                                                                                                                   6’-11”x7’-9”                                                          7’-7””x7’-9”                                                                      7’-7”x7’-9”
                	 he	subject	is	located	within	Franklin	County	in	the	city	of	Westerville.		                                                                                                                                        7’-3”x7’-9”                                                         7’-3”x7’-9”                                                                         7’-3”x7’-9”
                Real	Property	in	Franklin	County	and	all	of	Ohio	is	assessed	at	35%		
                of	fair	market	value.	The	assessed	figure	is	multiplied	by	the	prevailing	
                                                                                                                POOL HOUSE
                millage	rate,	currently	59.4389	per	$1,000	of	value,	to	arrive	at	the	
                total	tax	amount	due.	Taxes	are	payable	semi-annually,	six	months		
                in	arrears.
                                                                                                                                                    CLUBHOUSE                                                                                                                                                                                                                                                                      10’-11”x14’-4”
                                                                                                                          POOL                                                                                      11’-11”x13’-9”                    13’-1”x10’-7”                                               11’-2”x9’-5”                                                                         10’-1”x11’-9”
                                                                                                                                                                                                                                                                                        15’-1”x11’-11”                                                                     11’-11”x13’-9”

                                                                                                                                                                                                                         Patio                                                                                                                                                   Patio
                                                                                                                                  Clubhouse	Site

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