The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
The term “live-work” has gone from a buzzword to a way of life, and CrowdStreet’s latest offering from JDS Development Group is yet another example of how some of the country's hottest markets are making this a reality.
The building at 1 Southside Park is a 2.5 million-square-foot, 64-story high rise with more than 1,100 residential units and 200,000 square feet of office space along with a 184-key Treehouse Hotel. The project has a target investor internal rate of return (IRR) of 20.7%.
This project is located on the last development site in Miami’s desirable Brickell neighborhood. Spanning a full city block, 1 Southside Park will act as an anchor tying together Miami’s largest public park and the city’s mass transit system, which sits adjacent to the project.
Investment Highlights: JDS Development Group has been cutting its teeth with projects like this in some of the country's hottest markets. The fact that the company elected to co-invest 51% ($49 million) of the development cost speaks to the level of confidence this team has in the project as a whole.
The sponsor anticipates having 30% of the space pre-leased by the first quarter of 2024 with construction being completed and remaining spaces leased by the third quarter of 2025.
Minimum investment: $25,000
Target IRR: 20.7%
Target equity multiple: 2.2x
Target investment term: 6 years
Miami Market: Miami has been on the radar of many institutional investors and developers lately. Camden Property Trust (NYSE: CPT) is a multifamily REIT with a portfolio concentrated in the sunbelt region that has seen strong occupancy growth within its southeast Florida properties. The company’s southeast Florida portfolio currently has an average occupancy rate of 98.5%, which is up from 95.7% in the second quarter of 2020.
Accredited investors can sign up on the CrowdStreet platform to review the full details of the 1 Southside Park offering as well as other current real estate offerings.
Want to Be the First to Know about New Investment Opportunities? Gain access to the same investment offerings on which institutions and billionaire investors are earning 20% to 30% or higher annual returns.
While real estate crowdfunding is giving individual investors access to private deals that have historically been out of reach, many of the most lucrative deals are fully funded before the average investor ever has a chance to get involved.
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The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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