Description: 

Canopy Creek Apartments is made up of 288 deferred-maintenance and non-upgraded units located in the Jacksonville, FL market. We were able to purchase this property off-market, leveraging the sponsor teams cash to secure the property nearly $1 Million below the matching-comparable. Construction will be executed on this project by a contractor that has worked with the sponsor team on multiple past deals. Rents will then be pushed $160-$345 on renewals to catch up to market rents. It will begin to reposition from a C class property to a B class property.

Project Details:

Project Sources: $33,134,622
Project Timeline: 5 Years
Location: Jacksonsville, Florida
Strategy: Value-Add
Status: Sold

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