Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A
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 2007
Building Area Gross

Property description

Jones Lang LaSalle, L.P., JLL Real Estate Limited (collectively, “JLL”) is pleased to present The Edge at Lafayette (the “Property” or “The Edge”), a 524-bed, student-living community within a 3-minute drive of the athletic campus at the University of Louisiana at Lafayette (“ULL”). Despite an enrollment over 16,000 students in Fall 2020, there exists only 7 purpose-built, student-housing assets in the market, with only one new delivery since Fall 2014. In total, the off-campus market provides accommodations for under 3,200 students (19% of enrollment), indicating a substantial shortage of beds for ULL students. As freshman and graduate enrollment has risen and no supply is anticipated through at least Fall 2025, the bed shortage will only expand. Additionally—as the Lafayette market has only welcomed 595 new beds since 2014—there is a dearth of modern product augmented to the preferences of today’s student-renter. Though major capital-expenditure items—including the roofs being replaced in 2021—have been completed, the Class A property with functional layout and strong amenities represents a value-add opportunity via renovation of select communal and in-unit amenities. With the fundamental story supporting a Property primed for repositioning, The Edge represents a rare opportunity for quick stabilization with significant upside. 

Investment highlights

-       Value-Add Potential – Property vintage and lack of new product indicates a renovation strategy has significant upside


-       Lack of Modern Product – Only one purpose-built, student-housing project has delivered in the Lafayette market since 2014


-       Empty Supply Pipeline – No new deliveries anticipated for the market through at least Fall 2025


-       Severe Bed Shortage – With only 6,800 beds—both on- and off-campus—nearly 60% of ULL students are lacking purpose-built housing accommodations


-       Expanding Technology Sector – Waves of new jobs in the tech sector have made Lafayette the technology capital of the region

Last Updated Date: 19 Oct 2021

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Last Updated Date: 19 Oct 2021

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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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