The Badlands II portfolio contains four apartment properties totaling 14 buildings and 504 units located in Dickinson, Minot, Tioga and Watford City, ND
WESTERN NORTH DAKOTA — August 13, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm focused on providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announces a call for offers on a premier, high-return Bakken multifamily investment portfolio.
The Badlands II multifamily portfolio is an exclusive investment opportunity featuring four high-end, quality-built apartment communities ideally located in western North Dakota in the heart of Bakken oil activity, a market experiencing increased housing demand.
The portfolio is only five years old and contains 14 buildings with 504 spacious apartment units and 561 detached garage units. The portfolio was employee housing, however the units have all been opened to the public. Unit layouts and garage types vary per property, but contain the following:
- One bed/One bath
- Two bed/Two bath
- Three bed/Two bath
- One-car garage
- Two-car garage
Each property is well-located in its respective market near to area shopping, dining, schools, parks, airports, hospitals and highways. These high-end properties offer numerous amenities and are poised to offer a high investor return. The investment offering can be sold as a full portfolio or per property.
Monday, September 10th at 5:00 p.m. MST
DUE DILIGENCE DOCUMENTS
Offering memorandum is available upon request with signed Confidentiality Agreement.
- 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.
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.