Enter the "Deal room" for exclusive documents related to this property.
|Building Area Gross||
|Land Area Gross||
|Number of units||328|
Recently constructed and delivered in April 2021, Alders Magnolia and Alders Rockwall provide age-restricted resort-inspired luxury living. With a combination of generously sized floor plans, full-sized appliance packages, granite countertops, heated pools & spas, fire pits, outdoor cabanas, and covered porches with fireplaces, the communities have been extremely well received since opening. Boasting a tremendous lease-up pace thus far, each community has averaged more than 10 new leases per month since opening.
JLL research on the age-restricted sector shows that the average age at move-in is in the low 70s – 10 years younger than traditional independent living. Average annual turnover among existing residents is approximately 20% nationally. Age-restricted apartments typically achieve a 30% rental rate premium to traditional multifamily, yet offers a value proposition versus independent living, which can be 50% more expensive. These communities offer strong demonstrable rental rate increase potential as units turn upon stabilization.
Located within 5 miles of The Woodlands, which in 2021, was rated the #1 “Best City to Live in America” by Niche. The area is home is multiple corporate campuses, including Occidental Petroleum Corporation, Chevron/Phillips, Baker Hughes, and Halliburton. There are over 100,000 people within a five-mile radius of the property, with an average housing value of $382,000.
Located just 25 miles east of Downtown Dallas, Rockwall is well-located just off of I-30, and provides excellent access to almost every major freeway in the Metroplex. The community has in excess of 100,000 people within five miles and sits adjacent to one of the largest recreational lakes in Dallas/Fort Worth, Lake Ray Hubbard.