NAPLES,
Fla., May 22, 2024 /PRNewswire/ --
JBM® Institutional Multifamily Advisors has the
exclusive to assist TDK Construction and Rail Gauge Partners in
raising equity for Vintage Naples. Both partners will act as
co-GP's in the project. The project has a compelling 7.02% ROC
(untrended) with total development costs of just under $130MM
or $324K/unit. The equity request is
for up to $59.6MM and deal terms can
be negotiated.
Sponsors
TDK is based in Murfreesboro,
TN and is a three-generation development and construction
company and has completed over 10K
units. Rail Guage is based in Atlanta,
GA and acts as an investor, developer, and operator of
multifamily assets throughout the southeastern U.S. Both Sponsors
will contribute GP equity and TDK will act as the General
Contractor.
Product
Vintage Naples will be a Class
A+, four-story, 400-unit, high-quality concrete block construction
trophy asset. The unit mix will have one, two, and three-bedrooms
with a zoning requirement that 10% of the units meet affordable
housing requirements. Corridor attached garages, guest suites, and
storage units will be available to rent. Amenities include a
resort-style pool, two-story state-of-the-art fitness center,
indoor pickleball court, 22 private offices (for lease), and much
more.
Location
Vintage Naples will sit on
31.36 acres of shovel-ready land in a premier location in the
direct path of growth with crossroads of Immokalee Road and Orange
Tree Boulevard. As part of a larger PUD, Vintage will have
fantastic walkability to brand new retail and restaurants as well
as fully signalized access from a high traffic count road. Notable
tenants include Aldi, Chase, 7-Eleven, a proposed NCH location,
McDonald's, a self-storage
facility, and a number of in-line dining and retail options.
Publix, CVS, and Dunkin' Donuts are also located right across the
street. Within 5 miles of the Property, the average net worth is
$1.38MM and the average household
income is $124K.
About JBM®
JBM® holds a 70%+ market share across Southwest Florida and is the #1 ranked
boutique brokerage firm in the U.S.A. despite only transacting in
Florida. Green Street's 2023
national multifamily broker rankings ranks JBM® as
the #1 highest average sold price per transaction throughout the
entire U.S.A. and #1
highest average sales price per unit throughout Florida ($320K/unit). JBM® has a lifetime
transactions volume over $19.4
billion and 168,000 units.
JBM – Available Properties
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SOURCE JBM Institutional Multifamily Advisors