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 2018
Building Area
Land Area ()
Number of units 61

Property Description

JLL is pleased to present the opportunity to acquire Terraces at Peridia (the “Property”), a newly-constructed, 61-unit luxury apartment community located in bourgeoning Bradenton, FL, a Gulf Coast city offering year-round sunshine and surrounded by beaches, waterways, and championship golf courses. The Property offers a desirable setting at the entrance to the upscale Peridia Golf & Country Club and central to employment, entertainment, retail attractions, and highly-rated public schools. The Property is now currently 95% occupied (98% pre-leased) occupied coming off a very strong lease-up in which minimal concessions were offered and is now poised to see significant growth in rental rates and ancillary revenue. 

 

Designed in a Florida coastal architecture and prominently situated on State Road 70 (50,604 AADT), Terraces at Peridia enjoys enduring curb appeal and benefits from excellent visibility. The three-story, elevator-served community stands apart from the competition by combining sophisticated, well-appointed interiors with an impressive array of amenities not typically found at properties of comparable make-up, including a rooftop terrace with a fireplace, a saltwater pool surrounded by a resort-style deck with cabanas and grilling area, and a fitness center with free weight and cardio equipment. The Property further distinguishes itself from the competition with solid concrete block construction on the first floor, six single-story, fenced-in villa-style units, 30 detached garages (1 for every 2 units), 61 storage closets (1 per unit), and oversized terraces on upper floors.

Investment Highlights

  • Premier Luxury Community in Boutique Setting
  • Significant Upside Potential Following Initial Lease-up
  • Central Location Within Rapidly Growing MSA
  • Limited Supply and Healthy Fundamentals
  • Attractive Demographics in Upscale Neighborhood


Last Updated Date: 29 Apr 2021
Zach Nolan
Zach Nolan
Senior Director, Capital Markets
License details
FL-SL3280497
Matt Mitchell
Matt Mitchell
Senior Managing Director, Tampa Office Head
License details
FL-BK3221815

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Last Updated Date: 29 Apr 2021

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