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Reserve at Midtown is a 232-unit value-add multifamily community located in the Midtown. Lake Ella submarket of Tallahassee, Florida.

Highlights
Strong occupancy and resident retention. Assumable 3.34% fixed agency debt through 2032. Value-add renovation strategy. Supply-constrained submarket. Long-term NOI growth potential.

Why This Asset? Why Tallahassee? Prime Midtown / Lake Ella Location: State government employment hub Below-market rents with value-add upside Florida State & Florida A&M University demand drivers Stabilized occupancy with day one cash flow Expanding healthcare sector Assumable 3.34% fixed agency debt through 2032 Stable renter population Supply-constrained submarket Limited multifamily supply in core neighborhoods MARKET OVERVIEW — TALLAHASSEE, FLORIDA. Population GDP Growth404,606 4.3% MSA est. 2025, +5.3% since 2020 2024 - outpaced FL (3.3%) and US (2.8%) Government Hub Renter Households 64,000 Jobs 60%State capital - recession-resistant base 49,240 renter-occupied units in city Educational Anchor Midtown Avg. Rent FSU + FAMU $1,796/mo70,000+ students, top employers Premium submarket, +1.1% YoY growth

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