|Building Area Net||
|Land Area Net||
|Number of units||377|
|Call for Offers||2022-05-11|
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire the Reserve at Harper’s Crossing (the “Property”), a 377-unit, value-add multi-housing opportunity located in Langhorne, Bucks County, Pennsylvania.
Constructed in 2004, Reserve at Harper’s Crossing features 153 one-bedroom, 188 two-bedroom, and 36 three-bedroom apartment homes averaging 988 square feet. The Property is situated on 39 sprawling acres in scenic Bucks County, offering residents an unsurpassed suburban living experience.
COMPELLING VALUE-ADD OPPORTUNITY
- Reserve at Harper’s Crossing was built in 2004 and has been professionally maintained since. Current ownership has upgraded 244 units (65% of unit mix) to a luxury scope, achieving rental premiums of more than $300 above units featuring classic finishes.
- Rent growth in the Lower Bucks County submarket has significantly outperformed the metro’s average, maintaining 3%-4% growth over the past three years, while boasting 8.4% year-over-year rent growth.
DYNAMIC SUBURBAN LOCATION
- Reserve at Harper’s Crossing is located in affluent Bucks County, proximate to a variety of white-collar employment hubs and transportation options.