資產詳情
JLL is pleased to present C&E Living Apartments, a charming makeup of vintage and modern units offering best-in-class living within St. Paul’s South St. Anthony Park community.
C&E Lofts (104 units), completed in 2012, transformed the original Chittenden & Eastman furniture factory into loft-style, historic apartments with high ceilings and an urban feel. C&E Flats (119 units), its modern counterpart, was developed directly adjacent in 2017, creating one dynamic community. Today, C&E Living presents unmatched optionality through its beautifully executed combination of innovative and historic homes with in-demand layouts and highly sought-after community amenities.
Situated at the intersection of University and Raymond, C&E boasts an unrivaled location in the epicenter of the Twin Cities. The property’s immediate proximity to restaurants, entertainment, employment, retailers, and more coupled with its direct access to I-94, MN-280, and the Metro Green Line LRT make it a top destination for renters. Additionally, the asset’s conveniently central location offers an effortless commute for couples and roommates who commute in opposite directions.
The greater Twin Cities multi-housing market is outperforming across the country, highlighted by its #1 RentCafe ranking for rental demand (now four months running). Recent data helps contextualize the extreme supply constraint on the go-forward, driven by today’s construction costs, permit activity, and the city passing its rent stabilization ordinance. Although the ordinance has been modified to be significantly less restrictive - including a 20 year exemption for new assets like C&E - it has created a cliff to the delivery pipeline. The supply and demand imbalance will provide investors with significant pricing power and lead to outsized growth and returns.
C&E Living Apartments presents a dynamic investment offering with existing natural upside plus an opportunity to unlock additional potential through a value-enhancement strategy. The asset boasts historically strong performance and is exceptionally well-positioned to capitalize on the sustained demand and forward-looking supply constraints.
特性
媒體
投資亮點
Best-in-Class, Award-Winning Asset
- Unmatched optionality with both Flats-style and Lofts-style units, creating the ideal fusion of timeless charm and modern living, appealing to residents of all preferences
- Luxury resort-style amenities highlighted by an outdoor pool, rooftop deck overlooking the Minneapolis skyline, fitness center (plus a separate yoga studio), and state-of-the-art clubroom
- Dynamic 2012/2017 construction investment opportunity offering natural upside in addition to promising value-add strategies
- Convenient and desirable amenity retail, with a popular brewery and restaurant on-site
- Union-built, premier quality and components with a timeless design
Heart of the Twin Cities Location
- Exceptionally well-connected to the greater Twin Cities via I-94, MN-280, in addition to a Metro Green Line stop immediately out the front door
- Highly convenient location, within 15-minutes of downtown Minneapolis and St. Paul as well as the MSP International airport
- High-growth pocket of the city, with continuous investment in new amenities - leading to a 45% population growth since 2010
Fantastic Property Performance Coupled with Strong Demand Drivers
- Zero additional apartments either under construction or proposed for future construction, creating further supply constraints in the submarket
- Twin Cities leading national average rent growth plus an outsized growth forecast in the immediate submarket
- Strategically positioned within a thriving eds and meds location, C&E is poised to benefit from substantial capital investments in the surrounding area and the University of Minnesota
聯絡地產代理
