|Number of units||48|
Jones Lang LaSalle Americas, Inc. (JLL) is pleased to present the opportunity to acquire the South Florida SFR Portfolio (“Portfolio”), a core-quality portfolio of 48 rental homes and townhomes concentrated in Miami-Dade, Broward, and Palm Beach counties. Each home was built in 2018 by national homebuilders within larger single-family communities and was constructed with an eye towards an end user with high-end interior finishes and solid concrete block construction, providing an investor the ability to acquire a turn-key portfolio with stabilized operations.
Benefitting from rapid in-migration and major corporate relocations, South Florida’s housing market has been one of the top-performing markets in the country. Home prices in the zip codes in which the homes are located have increased by 10.2% over the past 12 months and are projected to grow by an additional 8.0% in the next 12 months, according to Zillow. Meanwhile, the for-rent market has been even more robust with year-over-year rent growth in the Miami metro area standing at 23.6%, per YardiMatrix, the 3rd highest mark in the U.S.
The Portfolio offers an investor the prime opportunity to capitalize on the positive demographic trends fueling the healthy fundamentals in the SFR space with a high-quality portfolio located in one of the country’s hottest markets.
- 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 1,804 average sf
- Ability to achieve economies of scale with a Portfolio geographically concentrated in South Florida, one of the country’s hottest markets
- 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