Modera Skylar

Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire Modera Skylar (the “Property”), a 263-unit luxury high-rise community in the nation’s 2nd largest Health District.

Modera Skylar is comprised of two towers built across two phases and boasts the largest units in the submarket. Phase I encompasses 166 units averaging ±1,016 SF in a 20-story tower built in 2013, while Phase II encompasses 97 units averaging ±951 SF in a 10-story tower built in 2022. Phase I underwent a full interior renovation in 2022, upgrading units with vinyl plank flooring, stainless steel appliances, new lighting fixtures and smart home technology as well as upgrades to the amenity deck and pool, fitness center and common areas.

Both towers share a gated parking structure with 317 parking spaces (±1.2x ratio) and connect via a shared amenity deck on the 5th and 6th floors which boasts a resort-style pool and jacuzzi with sweeping views of the Miami skyline, upscale cabanas & loungers, grilling stations, and an outdoor gym. The Property is ±97% occupied with an average lease rent of ±$2,648 – Phase I units average ±$2,628 and Phase II units average ±$2,674 (01/03/2025 rent roll), which represents a ±263 (±9%) discount to it’s competitive set.

The Property boasts an incredible location adjacent to Miami’s Health District featuring three major health systems across ±1.6M SF of medical space and within walking distance of River Landing (3-minute walk) providing for immediate access to a variety of national retailers including Publix, Chick-fil-A, Ross, TJ Maxx, and Pet Supermarket. Modera Skylar’s impeccable proximity to the SR 826 on- and off-ramps (3-minute drive) and the UHealth Jackson MetroRail station (7-minute walk) affords its residents with quick access to the Miami International Airport and nearby submarkets including Brickell, Downtown Miami, Wynwood, Midtown, and Edgewater in under 10 minutes and to over ±74M SF of office space within 30 minutes.