PARKE LAUREL - CBRE Marketplace

PARKE LAUREL
13178 LARCHDALE ROAD LAUREL, MD 20708
Fully-renovated 526-unit garden apartment community
conveniently located along the US Route One Corridor in
Prince George’s County, MD
PROPERTY
DETAILS AS
OF 4.12.13
# of Units Year Built/Renovated Occupancy
526 1966/2008 93.35%
Avg. Unit Size Avg. Monthly $/Unit Avg. Monthly $/SF
833 SF $1,073 $1.29
Investment Highlights:
Well-Appointed Turn-Key Community with Appealing Unit Interiors
Parke Laurel features spacious one-, two- and three-bedroom units with openconcept
kitchens featuring black-on-black appliances and modern maple
wood cabinetry, oversized windows and patios/balconies. Current ownership
completed a capital improvement package that included upgrades to unit
interiors, HVAC systems and roofs, making the property a turn-key investment
opportunity.
Conveniently Located Near Major Transportation Hubs
Residents can easily travel throughout the region using:
• US-1/Baltimore Avenue (less than one mile away)
• MD-295/Baltimore-Washington Parkway (two miles away)
• Laurel MARC Station, Camden Line (three miles away)
• I-95 (five miles away)
• MD-200/InterCounty Connector (seven miles away)
Within Close Proximity to a Multitude of Local Employers
• Konterra Town Center East, a “live, work, play” development located off
of Contee Road is currently under construction. Spanning 488 acres, the
town center is set to feature 1.5 MSF of high-end retail, 3.8 MSF of Class
“A” office space, 600 hotel rooms, residential space, parks, trails and
greenspace. The proposed focal point of the Baltimore-Washington corridor
is expected to create nearly 12K local jobs.
• Laurel Regional Hospital is less than two miles from the property, hosting
over 100 beds and 630 employees.
• Fort Meade, Maryland’s largest employer and home to the NSA headquarters,
is located seven miles from Parke Laurel. The 5.4K-acre campus is home
to nearly 100 government and military organizations and hosts the third -
largest workforce of any Army installation in the US, with an estimated 57K
employees as of 2012. Fort Meade serves as a dominant economic force in
the region and is currently undergoing tremendous expansion, which should
add as many as 22K new jobs over the next several years.
Strong Apartment Fundamentals
Parke Laurel is well-positioned for low vacancy and steady rent increases over
the next several years. The staggering number of high-tech jobs flocking to Fort
Meade should continue to propel the Laurel sub-market to lead the metro area
in employment growth for the next several years, providing a massive influx
of renters. Year-over-year effective rents in the Laurel/Beltsville sub-market
increased 3.8% as of 4Q 2012 (CBRE Econometric Advisors).
www.cbremarketplace.com/parkelaurel

RENDERING OF TOWNE CENTRE AT LAUREL
Investment Highlights:
Exceptional Access to Local Retailers
• Parke Laurel is within walking distance of two
shopping complexes, providing conveniences such
as CVS Pharmacy, Petco, Starbucks, Longhorn
Steakhouse and Chick-fil-A.
• Additional eateries and retailers within close
proximity to the property include Giant Food,
Safeway, Don Pablo’s, Ledo Pizza, Five Guys
Burgers & Fries, Chipotle, Office Depot and Best
Buy.
• Developers have broken ground on the extensive
renovation of Laurel Centre Mall as “Town Centre
at Laurel,” less than two miles north of Parke Laurel.
The $130M project will transform the existing mall
into a 560-KSF open-air, mixed-use complex with
a large outdoor community plaza and is expected
to be complete in Fall 2014. The revamped center,
including confirmed tenant Harris Teeter, will not
only become the core of this community, but will
also create about 1K construction jobs and 1.5K
operational jobs.
UNIT MIX AS OF 4.12.13
UNIT TYPE NO. OF UNITS AVG. SIZE (SF)
AVG. LEASED RENTS
$/UNIT $/SF
PARKE LAUREL
1 BR + 1 BA 372 736 $983 $1.34
2 BR + 1 BA 101 954 $1,213 $1.28
3 BR + 1 BA 11 1,257 $1,434 $1.14
3 BR + 1.5 BA 42 1,289 $1,438 $1.12
TOTAL 526 438,124 $564,370 -
AVERAGE - 833 SF $1,073 $1.29
EXCLUSIVE AGENTS
WILLIAM S. ROOHAN
Vice Chairman
410.244.3122
bill.roohan@cbre.com
MICHAEL D. RUDOLPH
Senior Vice President
410.244.3121
michael.rudolph@cbre.com
ANDREW C. BOYER
Executive Vice President
703.734.4737
andy.boyer@cbre.com
BRIAN H. MARGERUM
First Vice President
410.244.3135
brian.margerum@cbre.com
MICHAEL E. MULDOWNEY
Executive Vice President
410.244.3144
mike.muldowney@cbre.com
MARTHA A. HASTINGS
Senior Associate
410.244.3162
martha.hastings@cbre.com
For debt services, please contact Maury E. Zanoff at 202.585.5645; maury.zanoff@cbre.com
JONATHAN GREENBERG
Senior Vice President
703.734.4772
jonathan.greenberg@cbre.com
L. BRET KAMPF
Senior Associate
703.905.0255
bret.kampf@cbre.com
Interested parties must sign the accompanying Confidentiality Agreement and fax to Bill
Roohan at 410.244.3107, or return via the property website. Once returned, CBRE will
grant access to all available marketing materials. Offers for this asset are due Tuesday,
June 4 th , 2013.
© 2013 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any
projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The
value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors
should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.
250 W. PRATT STREET, SUITE 1700 BALTIMORE, MD 21201 PHONE 410.244.7100 • FAX 410.244.3107

Parke Laurel – Laurel, MD
FAX RESPONSE FORM AND CONFIDENTIALITY AGREEMENT
Fax back to:
Attention: Bill Roohan
Fax #: 410.244.3107
CBRE, Inc., a Delaware Corporation, has been retained as exclusive broker for the potential sale of Parke Laurel, 526 units in Laurel, Maryland.
We are prepared to furnish you (“Prospective Purchaser” or “Purchaser”) with certain material, data and information (herein referred to as the
Evaluation Material) in connection with negotiations concerning a possible sale, but only on the condition that you treat such Evaluation
Material confidentially as detailed below and confirm certain representations to us. CBRE has prepared the Evaluation Material for use by a
limited number of parties. It does not purport to provide a necessarily accurate summary of the property or any of the documents related
thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective investors may need or desire. All projections
have been developed by CBRE, or Owner and designated sources and are based upon assumptions relating to the general economy,
competition, and other factors beyond the control of such parties, and therefore are subject to variation. Neither CBRE nor Owner makes any
representation as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as,
a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct,
Broker and Owner, and its employees, disclaim any responsibility for inaccuracies and advise prospective purchasers to exercise independent
due diligence in verifying all such information. Further, CBRE, Owner, and their employees, disclaim any and all liability for representations and
warranties, expressed and implied, contained in, or for omissions from, the Evaluation Material or any other written or oral communication
transmitted or made available to the recipient. The Evaluation Material does not constitute a representation that there has been no change in
the business or affairs of the property since the date of preparation of the Evaluation Material. Analysis and verification of the information
contained in the Evaluation Material is solely the responsibility of the Prospective Purchaser.
This Evaluation Material and the contents, except such information that is a matter of public record or is provided in sources available to the
public, are of a confidential nature. By accepting the Evaluation Material, you agree that you will hold and treat it in the strictest confidence,
that you will not photocopy or duplicate it, that you will not disclose the Evaluation Material or any of the contents to any other entity (except to
outside advisors retained by you if necessary, for your determination of whether or not to make a proposal and from whom you have obtained
an agreement of confidentiality) without the prior written authorization of Owner or CBRE, and that you will not use the Evaluation Material or
any of the contents in any fashion or manner detrimental to the interest of Owner or CBRE.
Owner and CBRE each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the
property and/or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligations
to any entity reviewing the Evaluation Material or making an offer to purchase the property unless and until such offer is approved by Owner
and its Corporate Office, and a written agreement for the purchase of the property has been fully negotiated, executed, and delivered.
Purchaser acknowledges that CBRE is acting on behalf of Owner as exclusive broker in connection with the sale, and also acknowledges that
CBRE is not the agent of the Purchaser. Purchaser agrees to pay all brokerage commissions, finder’s fees, and other compensation to which
any broker (except CBRE), finder or other person may be entitled in connection with the sale of the Property if such claim or claims for
commissions, fees or other compensation are based in whole or in part on dealings with Purchaser or any of its representatives; and Purchaser
agrees to indemnify and hold harmless CBRE and Owner, their respective affiliates, successors, and assigns, employees, officers, and directors
against and from any loss, liability or expense, including reasonable attorneys’ fees arising out of any claim or claims by any broker, finder or
similar agent for commissions, fees, or other compensation for bringing about any sale of the property to Purchaser if such claim or claims are
based in whole or in part on dealings with Purchaser or any of its representatives. All Property tours need to be scheduled with the CBRE
representatives listed. Please do not contact on-site property management.
Accepted and agreed this ___________ day of ______________________, 2013.
Purchaser:
By: ___________________________________ Address: ____________________________________
Name: ___________________________________ ____________________________________
Company: __________________________________ Phone: ____________________________________
Title: ___________________________________ Fax: ____________________________________
Website: ___________________________________ Email: ____________________________________