Objektbeschreibung
Jones Lang LaSalle (“JLL”) is pleased to present Encore at Forest Park (“Encore”), a Class-A, 247-home mid-rise apartment community featuring a premier location next to St. Louis’ Forest Park, as well as nearby downtown Clayton and Central West End. Encore offers an unbeatable live/ work/play location that is a short commute to all Forest Park has to offer, as well as top employers, entertainment, retail, restaurants, and downtown St. Louis. This can’t-miss investment opportunity is available free and clear or via assuming the favorable existing loan (2.4% fixed rate, full term I/O, 55 months remaining).
Eigenschaften
Medien
Investment-Highlights
Premier Location
• Adjacent to beautiful Forest Park
• Abundance of entertainment, restaurant and retail options surrounding Forest Park, including Clayton and Central West End
• Proximate to Barnes Jewish Hospital, Wash U, Saint Louis University, Cortex Innovation District, and other top employers, education, and healthcare
Incredible Tax Benefits
• Desirable tax abatement in-place through 2043
• Assessed valuation for improvements is 100% abated through 2028. Beginning in 2029, the property is 50% abated on the full appraised value of the land and improvements
Best-In-Class Development with Top Amenities
• Part of walkable master-planned development inclusive of restaurants, fitness, healthcare, hospitality, office, and private park
• Unbeatable community amenities including a resort-style pool
Superb Property Performance and Submarket
• Last 75 leases show a 5% premium over in place effective rents
• Strong Occupancy (98%)
• Zero properties under construction within a 1-mile radius
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