Residence at 850 is a luxury apartment community that was recently delivered in the growing submarket of Hyannis, Massachusetts. The property offers (9) one-bed and (44) two-bed condo-quality apartments with top-of-the-line unit amenities. With current lifestyle trends leading renters to gravitate toward highly-amenitized communities, Residence at 850 establishes itself as a best-in-class option for these renters, outfitted with spacious units and luxury on-site amenities. The overarching theme of reduced supply relative to the demand in markets throughout New England strongly persists in the Cape Cod submarket. With local municipalities in the region emphasizing environmental and cultural preservation, development of new projects in the area is scarce. This has further constrained supply, allowing investors to expect little oncoming competition in the future. Under these market conditions, the property performed exceedingly well. Residence at 850 has been able to achieve nearly 100% occupancy during its short lease-up period, a testament to its desirability. Concurrently, home prices on the Cape have grown to historical levels and are approaching $700,000 on average. The continuing affordability dilemma has made renting a much more affordable alternative in the region.