Jacksonville, FL, US, Americas

Jaguar Portfolio

投资组合描述

Jones Lang LaSalle Americas Inc. (“JLL”) is pleased to present The Jaguar Portfolio, a three-property multifamily portfolio totaling 842 units in Jacksonville, FL. The portfolio is comprised of:

CROSS CREEK APARTMENTS 292 Units | 1973 vintage
RIVERVIEW APARTMENT HOMES 304 Units | 1974 vintage
THE COLUMNS 246 Units | 1968 vintage

The properties consist of one, two, and three-bedroom floor plans and are perfectly positioned for an interior value-add program, having received a limited scope improvement under current ownership. Ample opportunity exists for a full repositioning of the properties through the renovation of the remaining units with support for average rent premiums of 7-12%. Average rents across the portfolio are $1,148, well below the comp set average of $1,269, further reinforcing the value-add upside within this investment opportunity.

All three properties are well located within the Interstate-295 beltway loop and proximate to some of the Jacksonville MSA’s largest employment centers. Cross Creek Apartments is located in west Jacksonville and within minutes of both Cecil Commerce Center and Downtown Jacksonville, while The Columns and Riverview Apartment Homes are located in southeast Jacksonville and within 5 miles of both Downtown Jacksonville and the Butler Corridor.

The city of Jacksonville, along with Florida as a whole, has shown incredibly strong population and job growth since 2020, with over 50,000 new residents moving to the metro from 2020 – 2024 and over 50,000 new jobs in the same period. All studies indicate that Florida will continue to outperform the national average in both population and job growth into 2030.

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属性

单位数量

842

建筑总面积

73,707 平方米

建成年份

1968

Jaguar Portfolio (3个物业)

媒体

投资亮点

SCALE

Rare opportunity to acquire nearly 850 units in one transaction in one of the nation’s top population growth markets.

RENOVATION UPSIDE

The limited number of renovated units at each property are earning $100-200 more than their “Classic” counterparts, providing direct support for a large-scale renovation of all units.

NEW CONSTRUCTION PULLBACK

While construction deliveries were at an all-time high in 2023 and 2024, high interest rates and inflated construction costs have continued to limit new starts over the past 12-24 months. Current development pipeline data suggests that a significant drop off in completions by the end of 2025 is imminent, with a further decline in 2026.

LIMITED NEW CONSTRUCTION COMPLETION

Almost no market-rate multifamily has been built within a 2-mile radius of each property in 30 years, ensuring renovated units will not compete with nearby lease-up deals.