Asking Price Contact for pricing
Area Size
NOI Net Operating Income
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2003
Building Area Gross
Number of units 263
Call for Offers 2022-03-29

Asset Description

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.

Investment Highlights

  • 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
Last Updated Date: 23 Mar 2022

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Last Updated Date: 23 Mar 2022

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