|Number of units||246|
Jones Lang La Salle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire Jefferson Westshore, a 246-unit multi-housing community located in South Tampa, Tampa’s most desirable, in-fill neighborhood with high barriers-to-entry, an affluent resident base, and ease of access to the area’s top office markets, entertainment, and retail attractions. Since its initial lease-up in 2014, Jefferson Westshore has consistently maintained high occupancy, high retention and steady rent growth, and now offers investors the potential to add value through light updating while maintaining competitively priced rental rates below newer construction properties in the immediate submarket.
Designed in a blend of coastal and mediterranean architecture, the Property enjoys enduring curb appeal and an amenity footprint that rivals any community in the submarket. Each of the four, three-story buildings feature lushly landscaped courtyards with water features, while the focal point of the Property is its resort style pool, state-of-the-art fitness center, and stylish clubhouse. Throughout the Property are a tableau of artwork and sculptures that harken back to and incorporate materials from the Wenczel Tile factory, which had occupied this site for 40 years before the construction of Jefferson Westshore.
· High-quality asset designed with enduring appeal
· Strong historical performance with high occupancy and retention
· Rents $245 on average below its competitive set
· Value-add upside through light updating
· Infill submarket with high-barriers
· Premier, high-demographic location
· Easy access to top employment centers and best retail