Franklin Square
1 East Franklin Street, New Freedom, PA, 17349, US
154 units
Attributes
Units
180
Occupancy
95%
Year built
1978
Building area net
16,008 sm
Land area gross
1.37 ha
Buildings
16
Asset description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale Upton Courts. The Offering presents Investors with incredible upside via an immediate Budget Based Rental Increase (BBRI) or a BBRI at the end of the existing Mark-to-Market Use Agreement in 2032. Furthermore, the Property is currently 95% occupied and benefits from a Project-Based Section 8 (HAP) contract on 100% of the units, giving Investors the opportunity to deploy capital into an inflation-protected, government backed asset.
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Investment highlights
- New Legislation Provides for Upside Opportunity
- Affordable Preservation Opportunity
- Significant Contract Upside
- HAP Contract Provides Stable Operations
- Accretive & Assumable Existing Financing
- Strong Baltimore Metro & Proximity to Employers
Media
Upton Courts (0 Properties)
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Last updated
Sep 25, 2024