A NY Metro Area core Multifamily Asset
The Building is at a Prime Location in the heart of Jersey City’s fast developing West Side Neighborhood with easy Access to major Highways such as Routes 78, 280, 1&9 and the NJ Turnpike. The Neighborhood is experiencing significant Growth and private Investment, including “the largest mixed-income development site” in the tri-state area. The Building is within walking distance of the West Side Avenue, providing access to Downtown Jersey City and Manhattan via NJ Transit.
Investment Highlights:
- Over the same period average year-over-year cash distributions of 4.18%, with an equity multiple of 1.81x
- At a potential Capital raise of USD 28M the implied entry Cap Rate would be approximately 4.09%
- In a Scenario where the Asset is sold after a 10 year hold at an Exit Cap Rate of 4.5%, the REIT would generate 7.78% IRR
Company Highlights:
- The Building is at a Prime Location and the Neighborhood is experiencing significant Growth and Private Investment
- Opened in 2018, this 5-story modern Building is located in the City’s fast developing Neighborhood
- Well-positioned to attract and retain Tenants while leaving a substantial Margin for future Rent Increases
- 63 oversized Luxury Apartments built in 2018 and 98% occupied
