Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire Daven Pointe (the “Property” or “Site”), a ±28.76-acre Build-to-Rent (“BTR”) development site located in Davenport, a rapidly growing, highly desirable suburban area of the Orlando MSA. With site plan approval already in place for a 224-unit townhome development, a developer can quickly capitalize on the outsized demand fueling the Single-Family Rental (“SFR”) space in one of the country’s hottest housing markets.
The Site is surrounded by a number of new for-sale, single-family housing communities being developed by many of the largest national and regional homebuilders looking to serve the large influx of new residents to the area, attracted to its convenience to retail, recreation, and immediate access to employment along the I-4 Corridor and Orlando’s Tourist Corridor, which is just 15 minutes away. Further adding to the location’s appeal is a strong public school system that includes a brand-new high school and several new charter schools, as well as one planned immediately adjacent to the Site.
At a time when demand for Build-to-Rent product is at an all-time high, the Site represents a prime opportunity for a developer to acquire a nearly shovel-ready site in an affluent, growing location.
- Highly sought-after build-to-rent development site, with site plan approval, in booming Central Florida!
- Thoughtfully designed townhome layout, ideal for attracting the rapidly growing population segment targeting SFR living.
- Orlando MSA rents projected to grow by 33% over the next 5 years (6.6% per year), driven by a wave of in-migration and corporate expansions (CoStar).
- Extremely desirable Davenport location, one of the fastest growing areas of greater Orlando, offering high-quality public schools and immediate access to Orlando’s famed theme parks.
- $40 Billion raised by institutional investors targeting SFR/BTR product in recent years to capitalize on the outstanding fundamentals of this space.
- Capital markets conditions are prime with Central Florida BTR projects selling for record-low cap rates and non-recourse construction financing available at historically low interest rates.