Dickinson, Minot, Tioga and Watford City, ND
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DEADLINE: Monday, September 10th at 5:00 p.m. MST
- INVESTMENT SALE: CALL FOR PRICING
- Four high-end North Dakota multifamily properties located in Dickinson, Minot, Tioga and Watford City (Can be sold as portfolio or individually)
- 14 buildings | 504 units total:
- Raven Ridge | 3 buildings | 126 units
- Hunters Creek | 1 building | 42 units
- Timber Cove | 4 buildings | 168 units
- Boulder Ridge | 4 buildings | 168 units
- Raven Ridge and Boulder Ridge come with available land for additional units
- All properties feature one- and two-car detached garage units
- BAKKEN OIL PRODUCTION ACTIVITY: 2018 oil prices have been increasing, prompting Bakken oil production activity to reach historic levels. In April, production reached a new record of 1.223 million barrels per day, beating out the previous record set in December 2014 at the height of the oil boom. The first six months brought an average monthly WTI price of $65.46 per barrel. This also beats a 2014 record, which was the last time the monthly average price was above $60 per barrel.
- CONSTRAINED HOUSING SUPPLY: Due to the resurgence of Bakken oil production activity, Western North Dakota energy markets are experiencing a rapid influx of service workers which is increasing area housing demand. With this demand inching toward outweighing supply, the Badlands II multifamily portfolio is well-positioned as an investment with high-return potential.
- STABILIZATION UPSWING: The demand for Bakken oil in the global market is not disappearing anytime soon, keeping North Dakota shale play markets on an upward economic trajectory. We are seeing Bakken multifamily vacancy rates shrink to 7% (and dropping) as rental rates increase 28%-32%. With this stabilization upswing, multifamily investors now have a strong opportunity for future returns.
WATFORD CITY, ND