Description

Scarlet Oak Village is above 90% occupancy while being roughly $150/unit lower than the rent comp set. Giving new ownership the ability to continue to drive rents further and has a proven value add component available through interior renovations. T12 controllable expenses are high due to non-reoccurring line items above the line. Pro-forma controllable expense estimates in line with the T6 annualized shows a roughly $100k delta from the full T12 controllable expense amount. Baton Rouge MSA leads the state of Louisiana in economic development, with 3.1% year-over-year job growth. Baton Rouge is a top performer in Louisiana across all economic indicators including average household income and unemployment rate