Description

JLL is pleased to exclusively present the opportunity to acquire The Addison, a one-of-a-kind, Class-A, 83 unit, build-to-rent townhome community located in Miami, Florida. This newly built asset is comprised of 2- and 3-story townhomes that offer 2-, 3-, and 4- bedroom floor plans with attached 2-car garages, averaging $3,643 ($2.03 PSF) per month in rent. Completed in 2025, the Property is in lease-up and is expected to be 95% occupied by Oct-2026.

The Property benefits from convenient access to both US-Hwy 1 (39,000 VPD; 1-min drive) and Florida's Turnpike (96,200 VPD; 5-min drive) providing connectivity to Miami's most important employment hubs, including JPMorgan Chase, Morgan Stanley, and Palantir, all within a 30-minute drive. Furthermore, The Addison is a quick drive to surrounding major retail chains including Publix, Target, Walmart, Starbucks, and OrangeTheory, which are all accessible within 5-minutes.

With the highest migration of millionaires in the U.S. (Miami New Times), Miami has undergone a dramatic gentrification rendering the city increasingly unaffordable to locals, who now find themselves priced out of historically middle-class neighborhoods where single-family homes today command prices of +$1 million. This tectonic economic shift has laid the foundation for the need of newconstruction build-to-rent communities, that offer residents the benefits of homeownership without the exorbitant cost. Compared to renting at the Addison, owning an equivalent townhome with a 2-car garage costs 61% more per month, amounting to $26,580 annually, and furthermore requires a 10% down-payment – which is out of reach for many.

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