The Eastern Shore portfolio consists of three properties located in the MSA of Daphne-Fairhope-Foley, the 12th fastest growing metropolitan area in the United States. The portfolio enjoys excellent locations within three affluent submarkets.
Summer Trace, a 104-unit community built in 1997 is located one mile from the Gulf of Mexico in Gulf Shores, Alabama. Baldwin County’s median household income is 18% higher than the state of Alabama and enjoys one of the most highly regarded K-12 school systems in the state.
The portfolio is proximate to both Mobile, Alabama and Pensacola, Florida with a combined population of over 1.1 million people. A portfolio enhancement program will begin immediately after acquisition and will focus on upgrades to the community amenity packages as well as select interior unit improvements.