Mezza
US - Jacksonville, FL
440 units
Living / Multi-housing
Lofts at the Highlands
1031 Highlands Plaza Dr W, Saint Louis, MO, 63110-1303, US
Gallery
Asset Description
Jones Lang LaSalle (“JLL”) is pleased to present Lofts at the Highlands, a beautiful 200-home mid-rise apartment community adjacent to Forest Park, one of St. Louis’s most coveted locations. Originally built in 2005 as part of The Highlands planned mixed-use development, the property offers spacious loft-style layouts consisting of 12-foot lofted ceilings with an average unit size of 1,233 sf. Lofts at the Highlands offers an amazing live/work/play location with a short commute to top employers, retail, entertainment and restaurants in neighboring Clayton, Central West End, and downtown St. Louis
Attributes
Number of units
200 units
Occupancy
95.00%
Year built
2005
Building area Net
22,911 m²
Land area Net
0.01 km² (11,412 m²)
Investment Highlights
Unbeatable Location
• Walking distance to the famed Forest park
• Endless restaurants, entertainment and retail options surrounding Forest park, featuring Clayton and Central West End hot spots
• Adjacent to I-64 providing easy access to top employers, universities and healthcare facilities
Untapped Upside
• Verifiable Value-Add Upside
• ~20% of units in original condition plus additional upside with premium white renovation scope
Sought-After Building Features
• Spacious Loft-Style Apartments
• Large Average Unit Size: 1,233
• Lofted 12’ Ceilings
• In-demand community amenities
Significant Capital Investment
• Over $2.7M in capital investments
• New clubhouse and gym equipment
• New common area improvements featuring a dip pool, grilling area and outdoor fire place
Incredible Tax Benefits and Debt Options
• Available free and clear of debt
• 9 years of tax abatement remaining
Contact brokers
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
30 Nov 2022