Amber Oaks H, I & J
US - Austin, TX
19.035 m²
Portfoliobeschreibung
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire Cannon Mills (120 Units) and Village of Westover (108 Units) (the “Properties” or the “Portfolio”), a 228-unit, value-add multi-housing portfolio adjacently located in Dover, Delaware. The opportunity is being offered individually and as a portfolio.
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Eigenschaften
Anzahl der Einheiten
228 Einheiten
Baujahr
1999
Gebäudefläche
21.247 m²
Village of Westover and Cannon Mills (2 Objekte)
Village of Westover and Cannon Mills (2 Objekte)
Medien
Investment-Highlights
- Attractive Cash Flow with Rental Upside: Cannon Mills & Village of Westover provide an investor with an attractive going-in yield and renovation upside through a premium kitchen and bathroom renovation program in all 228 units, which will garner premiums upwards of $200. The appealing 6.0% in-place cap rate is unique in the value-add market today, positioning new ownership to capitalize on the associated premiums of a unit modernization program while continuing to attract the influx of employees to this expanding location.
- Strong Organic Rent Growth: Net effective rents on new leases and renewals have increased 10.7% across both properties year-over-year, providing the opportunity to capitalize on below market leases and increase rents while developing a comprehensive renovation program. Further, the Dover multi-housing market maintained 4.0% annual rent growth as of 4Q22, while submarket vacancy remains inside of 4.0%.
- Institutionally Managed: Cannon Mills & Village of Westover set the stage for an investor to capitalize on direct revenue-enhancing improvements.
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Zuletzt aktualisiert
15. Feb. 2023
