1356 Jefferson Rd, Northfield, MN, 55057-3079, US

Jefferson Square Townhomes

属性

单位数量

占用率

100%

建成年份

1979

翻新年份

2010

建筑净面积

5,247 平方米

土地净面积

2.1 公顷

资产描述

Jones Lang LaSalle Americas, Inc. (“JLL”), as the exclusive advisor, is pleased to present the offering of Jefferson Square (the “Property”), a 50-unit, 100% HAP townhome community located in Northfield, MN. Recognized by Money Magazine's Best 50 Places to Live, Northfield features two prestigious colleges, a high quality of life, and a wealth of employers and economic drivers making it a truly dynamic location to invest.

Jefferson Square's legacy quality is palpable through strong community amenities and top-notch townhome residences. Moreover, the rare 100% HAP designation makes it prime for upside through a mark-up-to-market or re-syndication business plan. JLL invites offers from qualified investors who are interested in this prestigious investment opportunity.

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投资亮点

Rare 100% HAP Contract Provides Stable Operations and Upside

Stable annual rent increases hedging against inflation with an implicit government guarantee
Draft 2025 contract rents schedule project 4.5% growth over that of current contract rents with further upside potential via MUTM
LIHTC re-syndication potential in 2025 as current tax credits were placed into service in 2010
Immediate real estate tax upside due to the recent change to a flat 0.25% classification rate for class 4d apartments in Minnesota

Best-in-Market Townhome Living, Well-Maintained

Redeveloped by one of the most prolific developers, owners, and managers in the multi-housing space
Limited capital project needs due to premier design, construction, and components
Open and spacious floor plans with large unit sizes, 11.7% larger than the competitive set
Limited historical turnover, average 5-year occupancy of 98% and current occupancy of 100%

Premium location Within a Market Boasting Outstanding Fundamentals

Jefferson Square accounts for 1/6th of the affordable housing stock in Northfield
Consistently high occupancy rates and strong pricing power, evident both historically and projected on the go-forward
Proximate to a wealth of economic drivers such as employment, commerce districts, colleges, and more
Linked to the Twin Cities MSA, a market that today is in the spotlight nationally