|Number of units||331|
Jones Lang LaSalle Americas. Inc. or its state-licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in St. James (the “Property”). Built in 2006, the 331-unit asset is situated along McKinnon St. in the prestigious Uptown District, a walkable shopping, dining and entertainment district, with more than 200 bars and restaurants.
St. James is an institutional asset that offers residents luxury living with modern finishes, and ahead-of-its-time floor plans featuring large average unit sizes of 1,118 SF, walk-in shower/tub combos, and expansive walk-in closets that have been renovated. St. James is also offered at a significant discount to replacement cost considering the lack of land sites in the neighborhood, size of the site, and current construction costs make the development of like-kind product infeasible.
In addition, St. James offers new investors significant value-add opportunity, while the asset provides residents the ability to live, work, and play just minutes from their doorstep. The Property’s strong cash flow, value-add potential, exceptional location, and surrounding amenities make St. James one of the most desirable offerings in the market.