A R L I N G T O N T E X A S

O F F E R I N G S U M M A R Y
INVESTMENT OVERVIEW
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp. a Texas licensed real estate broker (HFF) has been exclusively retained to offer an
opportunity for qualified investors to purchase the fee simple interest in 404 Border (the Property), a unique, newly constructed asset located in Arlington,
Texas. Built in 2016, the 135-unit Property is strategically positioned in the heart of Downtown Arlington, equidistant to both Dallas and Fort Worth. In addition,
404 Border is adjacent to the University of Texas at Arlington, the fourth largest university in Texas, and is just minutes from the only Whole Foods in Arlington.
Furthermore, 404 Border is situated in the largest entertainment district in North Texas with venues including AT&T Stadium, Globe Life Park, Six Flags Over
Texas, Six Flags Hurricane Harbor, and the $1.25 billion master-planned, mixed-use Texas Live! development. With its prime, central location, new ownership
is afforded the opportunity to capitalize on the tremendous momentum in the area and further increase rental rates.

INVESTMENT HIGHLIGHTS
NEWLY BUILT, CLASS A ASSET WITH TREMENDOUS LEASE UP
Completed in 2016, 404 Border is the first conventional apartment
development in Arlington since 2003. The Class A asset offers beautiful
community amenities and interior finish outs that are not typically found in the
Arlington market including granite countertops, stainless steel appliances,
faux wood floors, and tile backsplashes. Demand for higher quality product
in the market was evident by the fact that 126 units were leased without the
Property having a clubhouse, and 86 units (64%) were leased before the
Property was delivered.
ADJACENT TO UNIVERSITY OF TEXAS AT ARLINGTON 404 Border
benefits from its immediate proximity to the University of Texas at Arlington
(UTA), the fastest growing university in Texas. Since 2008, enrollment at
the university has increased by 58% to nearly 40,000 students. Because UTA
does not have a live-on campus policy, only 9% of the student population
lives on campus leaving strong demand for new product. UTA continues to
invest in its campus to keep up with its expansive growth with major recent
projects such as the $150 million Engineering Building, $160 million College
Park District, and the $125 million Science, Engineering Innovation, and
Research building. Potential investors have the opportunity to operate 404
Border as a conventional multifamily community or convert the Property to
a student housing asset.
THE ENTERTAINMENT DISTRICT OF DALLAS/FORT WORTH Arlington
is home to the largest entertainment concentration in North Texas with the
Property located just minutes away from major professional sports and
theme park destinations.
AT&T Stadium is the $1.15 billion, world-class home of the Dallas
Cowboys and host of major events and concerts
Globe Life Park is the current home of the MLB Texas Rangers and
generates more than 2.7 million annual visitors
Six Flags Over Texas, a 212-acre theme park, and Six Flags Hurricane
Harbor, a 47-acre water park, bring in over 4 million annual visitors
FUTURE, WORLD-CLASS MIXED-USE DEVELOPMENT Arlington
recently announced plans for the new Texas Rangers ballpark as part of the
Texas Live! development. The $1.25 billion mixed-use project is projected
to deliver in 2020 and will include the new baseball stadium, more than
200,000 square feet of restaurants, retail, entertainment, as well as a new
302-room Loews Hotel.
DOWNTOWN ARLINGTON REVITALIZATION RESULTING IN WALKABILITY
In recent years, Downtown Arlington has expanded rapidly with several new
restaurants and businesses, and as a result, 404 Border receives a Walk
Score rating of 71. Recent projects such as Block 300, as well as the Urban
Union mixed-use project have helped reshape the Downtown Arlington area
bringing in tenants that include Division Brewing, Hooligans Pub, Flying
Fish, Fuzzys Tacos, Legal Draft Beer Co., Mellow Mushroom Pizza, On Tap:
Growler & Tap Room, Twisted Root Burger, and more.
ABUNDANCE OF NEIGHBORING EMPLOYMENT 404 Border is in close
proximity to several major employment centers including:
The University of Texas at Arlington employs 5,300 people and has
an academic staff of 2,165
The General Motors Assembly Plant, consisting of 4.1 million square
feet, has more than 4,100 employees
The Great Southwest Industrial Park, one of the largest industrial
submarkets in Texas, spans more than 100 million square feet of
industrial space and employs over 60,000 people
DFW Airport is the third busiest airport in the world and supportive of
over 228,000 jobs
 PROPERTY DESCRIPTION
ADDRESS: 404 E Border St.
Arlington, Texas 76010
YEAR BUILT: 2016
CURRENT OCCUPANCY: 91.1% (as of 6/6/17)
TOTAL UNITS: 135
AVERAGE UNIT SIZE: 814 square feet
RENTABLE SQUARE FOOTAGE: 109,881 square feet
NUMBER OF BUILDINGS: 1
NUMBER OF STORIES: 5
LAND AREA: 2.852 acres
DENSITY: 47 units per acre
PARKING: 70 carport spaces ($50 / month)
16 garages ($150 / month)
COMMUNITY FEATURES 88 open surface spaces
174 total parking spaces or 1.29
Resort-style pool with Business center with MAC/ spaces/unit
cabanas PC computers

Sky Box rooftop lounge Direct and indirect garages

DFW ECONOMIC OVERVIEW
Outdoor social areas with Dog park
barbeque grills
Carports

129,700
State-of-the-art fitness NEW JOBS ADDED DURING YEAR-ENDING MAR. 16
facility Valet trash pick-up

Coffee bar Elegant clubhouse

578,590 PROJECTED POPULATION GROWTH FROM 2017 2021

UNIT FEATURES
260,730 PROJECTED NEW JOBS CREATED FROM 2017 2021

ENERGYSTAR electric Full-size washer/dryer

stainless steel appliances connections

Granite countertops Exterior storage available N. ARLINGTON APT. MARKET OVERVIEW

Wood-style flooring Built-in bookshelves and
computer desks*
9 ceilings

Kitchen islands
Private patios and
balconies*
96.2% OCCUPANCY AS OF 1Q 2017

Track and pendant lighting Ceiling fans in living and

bedrooms
Contemporary fixtures
French doors*
9.2% RENT GROWTH SINCE 1Q16

Breakfast nooks
*in select units
Separate showers with
glass enclosures*
6.2% FIVE YEAR AVERAGE RENT GROWTH

UNIT MIX
Units Unit Description % of Total SF Market Rent Market Rent per SF Effective Rent Effective Rent PSF
6 Studio 4% 561 $950 $1.69 $925 $1.65
57 One Bedroom 42% 657 $1,128 $1.72 $1,108 $1.69
72 Two Bedroom 53% 959 $1,508 $1.57 $1,497 $1.56
135 100% 814 $1,323 $1.63 $1,311 $1.61
 DALLAS CBD
CENTREPORT BUSINESS PARK
(19 MILES)
- 1,300 ACRES
- 3RD BUSIEST AIRPORT IN THE WORLD - MORE THAN 20,000 EMPLOYEES
- 228,000 JOBS - 100+ COMPANIES
GREAT SOUTHWEST INDUSTRIAL PARK
- 7,000+ACRES
- OVER 105 MILLION SQUARE FEET
360
TEXAS

FORT WORTH CBD

GENERAL MOTORS ASSEMBLY PLANT
(15 MILES)
HOME OF THE TEXAS RANGERS - 4,125 EMPLOYEES

- $1.25 BILLION DEVELOPMENT

LINCOLN SQUARE HOME OF THE DALLAS COWBOYS

306,608 SF RETAIL

MEADOWBROOK PARK GOLF COURSE

DECATUR PROSPER
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Airport Lake
HASLET CARROLLTON Addison
Airport
ADDITIONAL INFORMATION GRAPEVINE COPPELL
North
ADDISON RICHA
SOUTHLAKE
KELLER Lake
FARMERS
For questions or additional information regarding this property, please contact any of the BRANCH
AZLE
individuals below. Mountain LAS COLINAS Preston
Hollow
Lake
Dallas/Fort Worth

DALLAS NORTH
ROBERTO CASAS Senior Managing Director | rcasas@hfflp.com | 469.232.1939 COLLEYVILLE International DALLAS
SAGINAW WATAUGA Airport LOVE FIELD
BRIAN KELLY Managing Director | bkelly@hfflp.com | 312.980.3605 NORTH BEDFORD IRVING AIRPORT University
Park

TOLLWAY
GREG TORO Director | gtoro@hfflp.com | 469.232.1995 820 RICHLAND
HILLS EULESS Highland
Lakewoo
LAKE 820 Fort Worth
Park
MIKE HIGGINS Associate Director | mhiggins@hfflp.com
Meacham| 312.528.3657 HURST
Lake Worth WORTH Airport
WILLIAM JENNINGS Senior Real Estate Analyst | wjennings@hfflp.comHALTOM CITY Uptown

ADAM KRAUS Real Estate AnalystNAS Joint Reserve

| 469.232.1998
FORT DALLAS CBD
| akraus@hfflp.com
Base
WHITE
Fort Worth | 469.232.1942
WORTH 30 30
30
For questions regarding debt structures WESTOVER
on this Property, CBD
please contact:
SETTLEMENT HILLS OAK CLIFF
820 GRAND PRAIRIE
DEON COLLINS Director | dcollins@hfflp.com | 469.232.1953
.
WY
30 Lake ARLINGTON Mountain
PK

IL Creek Lake
820
RA Arlington 45
CHI SHOLM T

20 BELT DALWORTHINGTON
OFFERING: JUNCTION
404 Border is being offered FOREST
on a free HILL basis GARDENS
and clear 20 One Victory Park
BENBROOK
OFFER DATE: TBD DUNCANVILLE
2323 Victory Avenue | Dallas, TX 75219
EDGECLIFF
TIMING: All submissions must includeVILLAGE
specific timing related to Tel: 214.265.0880 | Fax: 214.265.956420
Joe Pool
www.hfflp.com
DueBenbrook
Diligence and Closing time periods Lake
Lake DE SOTO LANCASTER

2017 Holliday Fenoglio Fowler, LP (HFF) and HFF Securities LP (HFFS) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices nationwide and CEDAR HILLprovider of commercial real estate and capital
is a leading
markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services,
CROWLEY
structured finance, private equity, loan sales, and commercial loan servicing.

Holliday Fenoglio Fowler, L.P. (HFF) has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF and we make
no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information
BURLESON
are approximate. Any opinions, assumptions, or estimates contained herein MANSFIELD
are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a
buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.