The Eastern Shore portfolio consists of three properties located in the MSA of Daphne-Fairhope-Foley, the 12th fastest-growing metropolitan area. 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 Alabama.
The portfolio is proximate to Mobile, Alabama and Pensacola, Florida, with over 1.1 million people. ApexOne Growth and Income Fund I purchased Summer Trace apartments and will hold long-term to capture growth and appreciation.