The Magnolia

JLL is pleased to present the opportunity to acquire The Magnolia (“the Property”), a 1987 vintage, 236-unit property located in North Bethesda, Maryland. The Magnolia allows future ownership to capitalize on compelling in-place yield with significant value-add upside through the approved Capital Improvement Plan with Montgomery County. The investment opportunity is highlighted by the Property’s continued strong performance with 95% occupancy, limited bad debt, 71% year-to-date retention, and 4%+ growth on lease trade-outs.

The Property’s desirable location features access to over 8MM+ SF of retail and 27MM+ SF of office across Bethesda, as well as direct proximity to a prominent employment base and demand drivers via the adjacent Grosvenor-Strathmore Metro Station (Red Line). The Magnolia is conveniently located 2 miles from the National Institute of Health and Walter Reed National Military Medical Hospital with a combined workforce of over 24,000+ employees. In addition, the Property offers direct access to I-270/I-495, Rockville Pike, and top employment hubs in Bethesda, MD, the I-270 Biotech Corridor, and the DC Metro area. The Magnolia also boasts area-leading demographics including $211K+ average household incomes and $920K+ average home value within a three-mile radius.

The Property offers a rare value-add acquisition opportunity poised to benefit from continuing a proven renovation program that has been completed on 130 units, as well as inherent future growth within the submarket.