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| Roberto Casas |
CHARLOTTE, NC – JLL Capital Markets has been engaged by Arch Companies to exclusively market for sale a six-property value-add multi-housing portfolio totaling 1,993 units in the high-growth southeastern markets of Jacksonville, Florida; Winston-Salem, North Carolina; and Spartanburg, South Carolina.
 |
| Jeffrey Julien |
The communities, which were constructed between 1962 and 1985, boast an average unit size of 929 square feet and feature a variety of amenities.
Ownership has made significant investment in
upgrades to the portfolio, with 60 percent of units renovated, as well as
upgrading common areas and addressing deferred capital.
Additionally, occupancies are trending towards
full stabilization due to the renovation program, and new ownership will have
the ability to continue the current renovation program, further enhancing
revenues and producing strong cash returns.
The portfolio represents a rare opportunity to acquire value-add workforce housing in highly sought-after submarkets.
Jacksonville, Winston-Salem and Spartanburg are all above the national average in terms of year over year employment and population growth, and each of these Sunbelt markets has strong long-term fundamentals.
The JLL Capital Markets Investment Sales Advisory team representing the seller is being led by Senior Managing Director Roberto Casas and Managing Director Jeffrey Julien.
“This offering gives investors a unique
opportunity to acquire significant scale in high-growth Southeast markets at an
attractive per unit basis,” Casas said.
“Given current operations, new ownership will also see strong returns and have the ability to continue to upgrade units to further improve revenues.
"Furthermore, an investor can quickly and
efficiently amass strong and durable cash flow in a single transaction.”
About Arch Companies
 |
| Jeffrey Simpson |
Arch Companies is
a vertically integrated real estate owner, operator, and developer with an
active investment portfolio of more than 3.4 million square feet across the
United States.
Founded in 2017 by Jeffrey Simpson
and Jared Chassen, Arch specializes in real estate investment,
development, and management with a concentration on primary and secondary
markets.
 |
| Jared Chassen |
The company has three investment
verticals, value add multi-family, ground-up development and white knight
capital.
Arch differentiates itself by providing
hands-on real estate investment management, creative deal structuring, and
transparent communication with partners.
Arch’s vertically integrated platform
allows for complete control and oversight of the business plan throughout the
life cycle of the investment.
Contact:
Kimberly Steele
JLL Manager
Public
Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
