Description de l'actif
JLL has been retained as the exclusive investment advisor in the sale of Advenir at French Quarter (“French Quarter”), a 436-unit garden style apartment community located within the Southeast Denver submarket. Completed in 1973, French Quarter consists of one and two bedroom homes with immediate value-add upside through unit interior renovations and revamping of common areas and community amenities. Proximate to major employment hubs such as the Denver Tech Center and Fitzsimons Medical Campus, French Quarter is located just minutes to the Nine Mile Light Rail Station and I-225 providing residents ease of access to a multitude of employment and recreational amenities.
Slightly renovated in 2012-2014, new ownership has the unique opportunity to implement a strategic value-add program focused on unit interiors via hard surface countertops, new cabinet faces, upgraded lighting fixtures, and upgraded flooring in living areas. Additionally, new ownership has the opportunity to renovate common areas and community amenities re-branding the asset to be in-line with newer and recently renovated competition. Coupled with strong fundamentals within the submarket and clear value-add upside, French Quarter features significant natural affordability with average in-place rents of $1,360.
The acquisition of Advenir at French Quarter presents the compelling opportunity to acquire a well-located community of scale with clear value-add upside within a strong performing Metro Denver submarket.
Caractéristiques de l'actif
Points clés d'investissement
- ATTRACTIVE VALUE-ADD OPPORTUNITY
- EXCELLENT ACCESS TO MAJOR EMPLOYMENT
- SUBURBAN SUBMARKET WITH EXCEPTIONAL FUNDAMENTALS