In June of 2022, the current owners implemented a strategy to raise rates, expecting vacancy to rise as leasehold tenants moved out and new tenants were signed on NN terms. Though occupancy temporarily decreased, the property is once again stabilized and currently 94% occupied with an effective annual rental revenue of $348,742. Buyer will earn a stable income through the rental income generated by the core plus properties in the portfolio. All new leases signed at Rosehill are locked in for the next 3-6 years with annual escalations and NN charges passed onto the tenants to account for increasing taxes and insurance costs. Buyer will benefit from the timing of this sale as cap rates in the submarket are slated to decrease over the next 2-4 years. Current owners are selling after implementing a successful value-add strategy over the previous 12-16 months. The property has increased NOI by $93,000 since Q4 2022.