Living / Multi-housing

Lofts at the Highlands

1031 Highlands Plaza Dr W, Saint Louis, MO, 63110-1303, US

Executive Summarydownload
Lofts at the Highlands_Property for Sale

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Lofts at the Highlands 2_Property for Sale

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
246,614 sf
Land area Net
2.82 acres (122,839 sf)

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

Lofts at the Highlands 4_Property for Sale
Lofts at the Highlands 4_Property for Sale

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Last updated
Nov 30, 2022