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<br /> <br /> <br /> <br />Hillside Heights Apartments, Elk River, Minnesota <br /> <br />Market Analyst Professionals, LLC 69 April 24, 2020 <br />Absorption Rate <br /> Reported absorption among competitive set projects has been robust. Maple Village reported one <br />month absorption of 102 units, the Depot at Elk River Station reported 53 units in one month and <br />Coachmen Elk River reported absorption of 53 units in one month. Considering these rates as well as <br />absorption based on movership ratios and estimated capture rates among income qualified households, it <br />is conservatively estimated the subject would be fully absorbed within 5-6 months of market entry. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />