Living / Multi-housing

Viridian Denton

510 Fort Worth Drive Denton, Texas United States 76201
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2018
Building Area Net
Land Area Net ()
Number of units 104
Occupancy 95.1 %

Property description

Jones Lang LaSalle, L.P., JLL Real Estate Limited (collectively, “JLL”) proudly presents Viridian Denton (“the Property”), a 104 unit / 206 bed newly constructed asset at the University of North Texas. The asset is currently 95.1% occupied and 76% pre-leased for Fall 2022 and has achieved 5.0% rent growth. Investors are offered the opportunity to purchase a best-in-class asset that provides consistent cash flow at a premier research university in the thriving state of Texas. The Property offers new ownership the opportunity to bridge the $80 per bed rent gap between in-place rents and the competitive set, which would result in an additional $200,000 in annual revenue.

Investment highlights

  • ​​​​​​​Opportunity for Significant Rent Growth – The one-bedroom units are $178 per bed behind the competitive set while the two-bedroom units are $80 per bed behind the competitive set.
  • Significant Discount to Replacement Cost – At a 5.75% return on cost, new development needs $2.74 PSF rents, or 54% above the Property’s current in-place rents.
  • Tier-1 Research University with Significant Enrollment Growth – The university has experienced three years of record enrollment and currently enrolls 38,154 students which is a 6.0% increase YoY.
Last Updated Date: 27 Apr 2022

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Last Updated Date: 27 Apr 2022

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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