INVESTMENT HIGHLIGHTS
Well performing LIHTC asset operating at the maximum allowable rents with an occupancy rate of nearly 97% in 2022
Excellent rental upside as the Campbell County rental limits are projected to increase by 8.18% in 2023
There is a subordinate HOME loan on the property with a 3.0% interest rate and 40 year amortization schedule
Gillette is known as the “Energy Capital of the Nation” centrally located in an area involved in the development of vast quantities of American coal, oil, and methane gas
The Property is conveniently located near schools and major retailers, such as The Home Depot and Walmart
The Wyoming National Guard Armory is located in Gillette and is a major area employer
EXECUTIVE SUMMARY
Thunder Rock is a 53-unit affordable housing community located in Gillette, WY. The property is minutes from outdoor recreation, grocers, schools, and shopping venues including Walmart, Smith’s Food & Drug, and The Home Depot. The property offers two and three bedroom floorplans with fully equipped kitchens, and washer/dryer connections. The community offers residents a basketball court, business center, fitness center, playground, and an on-site laundry facility.
The property was built and placed in service in 2008 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 45%, 50%, & 60% of the Area Median Income (AMI) limits, which are provided by the Wyoming Community Development Authority. The remaining unit is unrestricted and reserved for the on-site property manager.
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COMMUNITY AMENITIES
• On-Site Laundry Facility
• Playground
• On-Site Management
• Basketball Court
• Fitness Center
• Business Center
APARTMENT FEATURES
• Two & Three Bedroom Units
• Fully Equipped Kitchen
• Washer/Dryer Connections
THE ASSET
GALLERY
1086 Country Club Rd. - Gillette, WY 82718
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1086 Country Club Rd. - Gillette, WY 82718
THUNDER ROCK
2008
BUILT
54,523
SQ FT
53
UNITS
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BOISE OFFICE
6225 North Meeker Pl.
Suite 210
Boise, ID 83713
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
JORDAN SKYLES
Affordable Housing
Director of Operations
208.631.4981
jordan.skyles@berkadia.com
JEFF IRISH
Senior Managing Director
Affordable Housing
208.286.5013
jeff.irish@berkadia.com
INVESTMENT SALES
TYLER KING
Director
Multifamily
303.607.0847
tyler.king@berkadia.com
MIKE TERRY
Director
Affordable Housing
425.761.1640
mike.terry@berkadia.com
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
• Two & Three Bedroom Units
• Fully Equipped Kitchen
• Washer/Dryer Connections
DENVER OFFICE
1331 17th St.
10th Floor
Denver, CO 80202
DENVER OFFICE
1331 17th St.
10th Floor
Denver, CO 80202