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|Building Area Gross||
|Number of units||263|
|Call for Offers||2022-03-29|
Jones Lang LaSalle Americas, Inc. (“JLL”) as exclusive advisor, is pleased to present the opportunity to acquire Grand Reserve Apartment Homes (the “Property”), a 263-unit, 2-story garden style community located in Ocala, Florida, a region experiencing rapid economic expansion and boasting robust multi-housing fundamentals. The Property’s unique “Big House” design and low-density layout sets itself apart from neighboring communities. Comprised of 19 buildings and complete with garages and average unit sizes of ±1,072 square feet, Grand Reserve offers residents a spacious resort style feel, expansive amenity package and convenient access to major employers, retail and entertainment including walkability to the Paddock Mall.
Completed in 2003, the Property’s interior finishes have remained largely original, with less than 15% of the property already renovated. Grand Reserve presents a compelling opportunity for new ownership to continue to implement a proven renovation program and to apply sizable rent premiums that are easily supported by the submarket’s strong performance in multi-housing fundamentals.
- Compelling Value-Add Opportunity
- Unique "Big House" low density design
- Outstanding Multi-Housing Fundamentals
- Convenient Access to Top Employers and Demand Drivers
- Booming Logistics Hub