HomeMy WebLinkAbout_Morgan Crossing II PresentationMorgan Crossing Phase 2
Peter Jungbacker
Alexander & Bishop Real Estate Capital Markets
Project Overview
Project Description: 83 unit, 5 story new construction apartment development with
underground parking
Unit Summary:
Unit Type
# of
Units Average SF Average Rent Rent/SF
Studio 5 655 $975 $1.49
1 Bed / 1 Bath 43 762 $1,150 $1.51
2 Bed / 2 Bath 35 1120 $1,435 $1.28
Amenities: Underground heated parking
In unit HVAC
In unit laundry
Stainless steel appliances & granite countertops
Ownership Overview: Owned by Morgan Crossing 2, LLC, an affiliate of
Alexander & Bishop Real Estate Capital
Markets. Alexander & Bishop Real Estate Capital Markets,
LLC of Oshkosh, Wisconsin, is a real estate development,
management, and investment banking company. We
develop, acquire, manage and own commercial, office,
retail shopping centers and multi-family residential real
estate in Wisconsin.
To date Alexander & Bishop Real Estate Capital Markets,
LLC and its affiliates have developed over 6,000,000
square feet of shopping centers, office buildings, multi-
family apartment communities, and industrial warehouses.
Alexander & Bishop Real Estate Capital Markets, LLC also
provides mortgage brokerage financing and real estate tax
assessment appeal services to the commercial real estate
industry.
Representative Interior Photos
Representative Exterior Photos
Elevation Rendering
Underground Parking
1st Floor
2nd Floor
3rd Floor
4th Floor
5th Floor
PACE
• PACE is an innovative program that enables property owners to obtain low-
cost, long-term loans for energy efficiency, renewable energy, and water
conservation improvements
• The term of a PACE Financing may extend up to the useful life of the
improvement, which may be as high as 20 years or more, and can result in
cost savings that exceed the amount of the PACE Financing
• Eligible commercial properties include multifamily buildings of five units or
more
TIF
• 95% of the increment
• 15 years
• Extraordinary costs include:
i. relocation of ATC transmission guide wire ($100k)
ii. environmental remediation of soils ($200k - $400K)
iii. underground parking ($2,250,000)