Kansas Value-Add Portfolio

THREE PROPERTY PORTFOLIO WITH PROVEN VALUE-ADD UPSIDE

Colliers is pleased to present Pebblebrook, Sandstone, and Cambridge Square (“the Kansas Value-Add Portfolio”), 400 units with significant value-add scale and upside located near Kansas State University in Manhattan, KS. Located within minutes of each other, the Kansas Value-Add Portfolio offers operational efficiencies and a clear path to increase top-line revenue through a strategic unit interior renovation program. Of the portfolio’s 400 units, 348 units (87%) are in near original condition featuring oak cabinets, laminate countertops, and white appliances. 52 units (13%) have been recently renovated with stainless steel appliances and new fixtures to achieve average rents $137 to $163/unit above unrenovated units. New ownership can either continue the successful renovation program or elevate all 400 units with premium finishes such as stainless steel appliances, modern white cabinets, backsplash, a tech package, and granite countertops to unlock the portfolio’s full potential.

Positioned less than 10 minutes from Kansas State University (20,300 students and 9,000 jobs), the Kansas Value-Add Portfolio has a proven track record of stable occupancy and outstanding organic rent growth (up to 26% on new leases over the last 12 months). In excellent physical condition, Pebblebrook, Sandstone, and Cambridge Square offer new ownership the ability to leverage strong demand, no new supply in Manhattan over the next 36+ months, and excellent 12.3% market rent growth in 2025 (RealPage) to push top-line revenue and time value-add improvements perfectly.

PROVEN VALUE-ADD UPSIDE: Lightly renovated units are achieving average rents up to $163/unit higher than unrenovated units

Pebblebrook - 95% | Cambridge Square - 92% | Sandstone - 96%