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This offering is a SEC Reg D 506(c) and is open to accredited investors only. An accredited investor has either a net worth of $1 million, not including their primary residence, OR an annual income of $200,000 (or $300,000 if married) for the last two years and you have a reasonable expectation that it will continue.
A two-tiered return structure gives investors more choices when placing their equity. Investors have the opportunity to invest in either tier of equity Class A, Class B or a combination of both Class A and Class B. Diversifying in both classes allows for a risk adjusted and blended return.
The Adelade is a 109 unit B-Class multi family community completely renovated in 2019 situated in 4.56 acres, offering studio, 1 and 2 bedroom units in Knoxville, Tennessee
The South Knoxville submarket has experienced consistent rent growth over the past four years, while occupancy has increased to a Knoxville MSA high of
97% in 2020. Maintaining an average occupancy of 96% over the last three years, the South Knoxville submarket has repeatedly outperformed the Knoxville
MSA average occupancy of 93.9%.
South Knoxville has experienced rapid growth in recent years due to the revitalization of downtown and the Market Square neighborhood, just across the Tennessee River. Expansion along the Sevier Avenue corridor has intensified, with an array of infrastructure projects, over $700 million centered around outdoor activities and walkability. Proximity to natural amenities—such as riverfront parks and walking trails—has attracted new residents to the area and commercial development
has followed.
A recent $3.7 million complete renovation into the property has left a huge opportunity to increase rents without a large cap ex budget. A nearby competitor with similar floorplans, interior quality, and vintage is achieving rents nearly double what The Adelade is currently charging.
The Adelade is located in booming south Knoxville, .5 miles from Sevier Ave’s new extension of downtown Knoxville, with multiple new restaurants, retailers , and breweries , part of $700M major investment by the city to reshape Knoxville’s waterfront and 2 miles from downtown Knoxville. The Adelade is in close proximity to the largest science and energy national laboratory in the U.S. Department of Energy system along with being minutes from two new Amazon distribution centers bringing over 2000 jobs.
South Knoxville has experienced rapid growth in recent years due to the revitalization of downtown and the Market Square neighborhood, just across the Tennessee River. Expansion along the Sevier Avenue corridor has intensified, with an array of infrastructure projects, over $700 million centered around outdoor activities and walkability. Proximity to natural amenities—such as riverfront parks and walking trails—has attracted new residents to the area and commercial development
has followed.
Vinney Chopra is a Multifamily Investor, Syndicator, Educator, Motivator, Podcaster and Author.
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