5

October
2022

CISION
PR Newswire

ST. PETERSBURG, Fla.Oct. 5, 2022 /PRNewswire/ — JBM® Institutional Multifamily Advisors has brokered the sale of The Addison at Clermont – a Class A+ multifamily community in the Orlando suburb of Clermont, Florida. Built in 2020, the Property sits on a 19.34 acre +/- site. Consisting of 15 residential buildings, this garden-style community is comprised of 230 units averaging 1,111 square feet.

JBM® Chairman & CEO, Jamie May, comments, “I’d like to congratulate both Cottonwood Residential and ContraVest on another JBM® Class A transaction. The long-term HUD financing on the deal made a loan assumption scenario very attractive in this ever-changing interest rate climate. This is our 3rd merchant development we’ve sold for ContraVest and we look forward to many more!”

About the Property

Amenities include a resort-style pool with cabanas, fire pit, grilling station, state-of-the-art fitness center with a FitnessOnDemand® room, game and media room, bronzing studio, indoor dog wash station, upscale car care center, and dog park. The Addison at Clermont offers both attached and detached garages, as well as storage units. The Property is NGBS Green Certified™.

Apartment amenities include modern, 42″ cabinetry, luxury faux wood-style plank flooring, granite countertops throughout, glass subway tile backsplash, GE® stainless steel appliances, pendant lighting in kitchen, walk-in closets, and select units feature 13′ ceilings.

Also, part of the transaction are two undeveloped parcels totaling 1.03 acres +/- at the entrance to the Property. Allowable uses are office, retail, or restaurant.

Location

Clermont is one of the fastest growing areas in Florida – growing by more than 48% since 2010. Future job growth in the area over the next 10 years is projected to be 53% – 19.5% higher than the national average. Notably, the Property is located within 3 miles of two Publix Super Markets, less than 1 mile from the AdventHealth Clermont ER, less than 1.5 miles from Orlando Health South Lake Hospital, and just 25 minutes from Downtown Orlando.

About JBM®

JBM® Institutional Multifamily Advisors is the #1 boutique firm and the 12th largest broker by volume in the U.S.A. According to Green Street/Real Estate Alert, JBM® ranks #1 for highest average sold price per property in the U.S.A., making them Florida’s leading multifamily merchant development and luxury Class A broker.

SOURCE JBM Institutional Multifamily Advisors

JBM® has $16.5 Billion+ in transaction multifamily sales throughout Florida.

About JBM®

Jamie May and his team at JBM® Institutional Multifamily Advisors focus exclusively on multifamily asset disposition services, equity placement, capitalization, and recapitalization of new merchant developments, value-add properties, and existing opportunities of large apartment type portfolios and singular assets for domestic and foreign institutional, private national, and regional clientele.

In the trailing 60-month period, JBM® has achieved over 102% average strike vs. sold pricing for all listings.

JBM® has $16.5 Billion+ in transaction multifamily sales in the state of Florida.