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

Documents

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Attributes

Year Built 2015
Building Area Net
Land Area Net ()
Number of units 256
Occupancy 93.0 %

Property Description

Jones Lang LaSalle Americas, Inc. (JLL) is pleased to present the opportunity to acquire Creekside Ranch (the “Property”), a 256-unit luxury Class ‘A’ apartment community located prominently within the award-winning master-planned community of Lakewood Ranch 40 miles south of Tampa, Florida. Completed in 2015, the Property is uniquely positioned and offers upside potential through light interior upgrades in a fast growing, upscale submarket. 

 

Creekside Ranch’s preeminent amenity offerings has solidified the Property’s timeless appeal and superior advantages over its competition. Amenities include an 18,824 square foot clubhouse featuring a demonstration kitchen, gaming room, theater room, and conference room. The expansive state-of-the-art gym offers a wide array of cardio and weight equipment, a separate yoga room and an indoor basketball court, while the outdoor spaces are highlighted by the large zero-entry pool and a massive covered lanai with commercial-grade stainless-steel grills, as well as a volleyball court and dog park. In addition, the Property is further distinguished from its competitors with 4-story construction and elevator service. 

 

The Property’s spacious floor plans average 1,126 square feet and include attractive faux granite counters, vinylwood plank flooring, and a black General Electric appliance package that includes french-door refrigerators with water and ice dispensers. Value-add potential to upgrade the finishes to a more contemporary style that could include quartz/stone counters, updated cabinet doors/color, tile backsplash, and the replacement of carpet in the living rooms and bedrooms with vinyl-wood plank.

Investment Highlights

  • Five-Star Amenity Offerings
  • Affluent and Educated Demographic Within Lakewood Ranch
  • Significant Value-Add Potential
  • Strong Submarket Fundamentals
  • Favorable Real Estate Taxes
  • Accelerating Rent Increases
Last Updated Date: 30 Sep 2021
Matt Mitchell
Matt Mitchell
Senior Managing Director, Tampa Office Co-Head
License details
FL-BK3221815
Zach Nolan
Zach Nolan
Senior Director, Capital Markets
License details
FL-SL3280497

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Last Updated Date: 30 Sep 2021

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