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Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

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Property Description

Jones Lang LaSalle Americas, Inc. (JLL) is pleased to present the opportunity to acquire the Florida SFR Portfolio (“Portfolio”), an institutional-quality portfolio of 170 rental homes and townhomes located across five major markets in the state of Florida. Each home was built by national homebuilders between 2010 and 2020, with an average year built of 2018, providing an investor the ability to immediately gain scale with a stabilized, cash-flowing portfolio in like-new condition.

 

Florida has been the beneficiary of above-average population growth for decades, and the trend has been rapidly accelerated since the onset of the COVID-19 pandemic, resulting in outsized demand for housing and tremendous performance in the single-family market. According to a recent report from YardiMatrix, Florida is home to two of the top metros in the country for SFR rent growth with Tampa ranking #1 with 31.3% growth and Miami at #3 in the U.S. with 23.6% growth. The homes comprising the Portfolio are well-positioned to capitalize on these fundamentals as over half of the homes are located in the Tampa and Miami metros. Meanwhile, the balance of the Portfolio is located in the Jacksonville, Orlando, and Southwest Florida metros, all of which are experiencing extremely strong performance. In addition to astounding rent growth, the zip codes in which the homes are located saw year-over-year home price increases of 17.1% and are projected to grow by another 11.3% in the next 12 months, per Zillow.

 

With the ability to significantly grow revenue through pushing in-place rents to marketing while simultaneously continuing to ride the momentum of Florida’s rapidly appreciating housing market, an investor has a unique opportunity to acquire a turn-key Portfolio of significant scale with substantial upside potential.

Investment Highlights

  • Core-quality portfolio with all homes built in 2018 by national home builders
  • Ideal unit mix consisting of predominantly three- and four-bedroom homes with 1,853 average sf
  • Substantial upside potential with recent leases seeing double-digit rent growth and projections for strong home price appreciation
  • SFR is one of real estate’s best-best performing asset classes fueled by demographic trends and a shift in consumer preferences


Last Updated Date: 07 Sep 2021
Zach Nolan
Zach Nolan
Senior Director, Capital Markets
License details
FL-SL3280497
Matt Mitchell
Matt Mitchell
Senior Managing Director, Tampa Office Co-Head
License details
FL-BK3221815

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Last Updated Date: 07 Sep 2021

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