Portfolio

BB Living at Val Vista & Eastmark

Gilbert, United States
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Key facts

Year Built 2021
Building Area
Land Area ()
Number of units 217

Property description

​​​​​​Jones Lang LaSalle Americas, Inc. is pleased to present the opportunity to acquire the BB Living Southeast Valley Portfolio (“BBSVP” or the “Properties”), a 349-unit, two-property, Core Build-to-Rent Multifamily investment offering. BBSVP is comprised of the 217-unit BB Living at Val Vista in Gilbert and the 132-unit BB Living at Eastmark in Mesa. The Properties, completed in 2021 and 2020, respectively, achieved stabilization through extremely robust lease-up campaigns and are experiencing significant trade out premiums as first generation leases expire. Featuring luxuriously appointed three- and four-bedroom townhome floor plans averaging 1,816 square feet, BB Living at Val Vista and BB Living at Eastmark provide residents with a lifestyle that is unmatched across all of Metro Phoenix. Boasting direct-access two-car garages, open floor plans, and stunningly appointed interiors, the Properties have achieved market-leading rents and are poised to significantly outperform their competitive sets in both the short and long term. BB Living at Val Vista and BB Living at Eastmark are located in dynamically growing areas, providing residents with outstanding schools, diverse retail and entertainment options, and a burgeoning pipeline of emerging employment opportunities complementing the existing, diversified base of high-wage technology, financial services, and medical jobs. BBSVP provides a truly unique opportunity to acquire two Core Build-to-Rent Multifamily communities designed and constructed by BB Living, the premier developer within the BTR asset class, in two of the most compelling submarkets of Metro Phoenix.

Investment highlights

  • Pioneering Best-In-Class Development
  • Ideal Time to Invest in Build-To-Rent
  • Elevated Home Prices Generate Substantial Renter Demand
  • Exceptional Area Demographics Support a Deep Renter Pool
  • Strong Rental Market Fundamentals Result in Outsized Returns
  • Single Family Product Outpaces Conventional
  • Thriving Southeast Valley Submarkets
Last Updated Date: 30 Sep 2021
Charles Steele
Charles Steele
Managing Director, Capital Markets
Broker Licenses
NV - BS.0144397
John Cunningham
John P. Cunningham
Managing Director, Capital Markets
Broker Licenses
NV - S.0174792

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Last Updated Date: 30 Sep 2021

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