ORLANDO, FL—Lloyd Jones, a multifamily investment firm based in Miami, has acquired Arium Grandewood, a 306-unit apartment community built in 2005. The community, which is located in the fast-growing South Orlando submarket, is the fourth property Lloyd Jones owns and operates in the area. Lloyd Jones plans to execute a comprehensive value-add business plan to upgrade the property’s interiors. Arium Grandewood, which will be rebranded as Grandewood Pointe, will be professionally managed by Lloyd Jones Multifamily Management.

Arium Grandewood is a garden-style apartment community with a mix of one- two-, and three-bedroom floor plans and an amenity package that includes a resort-style pool, BBQ pavilion, fitness center, volleyball court, and business center. The South Orlando apartment community is just south of the Beachline Expressway, and within minutes of two Fortune 500 companies (Lockheed Martin and Darden Restaurants), office and industrial parks, Lake Nona Medical District, and the 500-room Ritz-Carlton and 1,000-room JW Marriott.

“The acquisition of Arium Grandewood is part of our strategic investment plan focused on established Orlando properties that are centrally located and well-positioned for value-add opportunities,” said Ashley Socarras, EVP of Investments for Lloyd Jones.

Lloyd Jones’ plans for the property include $2.7 million in capital improvements that include a two-level interior renovation package program comprising 95 percent of the units. “We believe that there is an opportunity to substantially upgrade interiors to create best-in-class units,” explained Stuart Keller, SVP of Asset Management for Lloyd Jones. “The community’s convenient location, and our planned capital improvements will appeal to the growing number of young professionals moving to the area.”

“We are excited to acquire our fourth property in the dynamic Orlando market,” said Christopher Finlay, Chairman/CEO of Lloyd Jones. “We anticipate that the market will continue to benefit from in-migration and favorable employment drivers which will help support demand for a well-located, upgraded multifamily community.”

ABOUT LLOYD JONES

Lloyd Jones, LLC is a real estate investment and development firm with 40 years in the industry under the continuous direction of Chairman/CEO, Christopher Finlay. Based in Miami, the firm has divisions in multifamily investment, development, management, and senior living. Its investment partners include institutions, family offices, and its own principals. To learn more about Lloyd Jones, visit www.ljasl.wpengine.com.

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MIAMI, FL – Lloyd Jones, LLC, a Miami-based multifamily investment and development firm, has acquired a two-property work force housing portfolio in Daytona Beach, FL. The acquisition of the Daytona Beach Portfolio brings the firm’s total AUM to $487 million.
Berkadia Commercial Mortgage, LLC provided Freddie Mac-sponsored senior and mezzanine financing to Lloyd Jones in connection with the acquisition.

Chris Finlay, CEO of Lloyd Jones, says, “With this acquisition, we now have five properties in the Daytona market and look forward to continuing our value-add, workforce housing strategy, allowing residents access to reasonably priced housing in this vibrant community.”

Built in the mid-1980s, the Daytona Beach Portfolio consists of two adjacent properties totaling 384 units. Lloyd Jones plans to invest $2M in upgrades, while keeping rents affordable for middle-income families

Raul Ramirez, the company’s CFO, stated, “Our goal is to take these currently under-performing communities and through the right management and cost-effective upgrades, create a better community for our tenants.”

This is the first investment opportunity that Lloyd Jones is offering to private, accredited investors. Previously, the firm partnered only with institutional investors on its investments, which have yielded an average realized IRR of 32.09% for the past ten years. Finlay added “This will allow individuals to access investment opportunities typically reserved for large institutional “check writers,” for as little as $25,000 per investor, and to tap Lloyd Jones’ seasoned investment and property management teams which underwrote and will own and manage these properties.”

For more information, please email: investments@lloydjonesllc.com
 
About Lloyd Jones, LLC
Lloyd Jones, LLC, is a private-equity real estate firm that specializes in multifamily and senior housing.  With 37 years of experience in the real estate industry, the firm develops, acquires, improves, and operates multifamily and senior housing communities throughout Florida, Texas, and the Southeast.  The firm is based in Miami, Florida. Its partners include institutional investors, family offices, individual accredited investors, and its principals.

Lloyd Jones Capital got a $38.2 million loan to finance its acquisition of the 397-unit apartment complex

Miami-based Lloyd Jones Capital bought a 397-unit apartment complex in Fort Myers for $55 million, or about $138,000 per unit.
Lloyd Jones financed its acquisition of the apartment complex with a $38.2 million loan secured by the South Florida office of Berkadia Proprietary Holding LLC.

Lloyd Jones got the fixed-rate, 10-year loan though Freddie Mac’s “Green Up” program, which requires borrowers to commit to such property-improvement initiatives as a reduction in water consumption.

The Miami-based private equity firm acquired a rental housing property called The Fountains at Foresthead, which opened in 1985 and has a swimming pool, a 25-hour gym, jogging trails along a lake and a car wash center.

The apartment complex’s address at 1734 Brantley Road in Fort Myersis near Interstate 75 and Florida Southwestern State College.
Lloyd Jones now owns 25 rental housing properties across Florida including the 120-room Granite at Miami Beach, the 432-unit Vibe at Gateway in St. Petersburg, and the 160-unit Meetinghouse at Collins Cove in Jacksonville. [Business Observer] – Mike Seemuth

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Fountains at Forestwood, Coastal Village trade hands in recent deals

A pair of recent apartment sales in Estero and Fort Myers have generated nearly $100 million in proceeds, according to Lee County property records.

Miami-based Lloyd Jones Capital acquired the Fountains at Forestwood community in Fort Myers for $55 million, adding to its portfolio of 18 multifamily rental complexes in Florida containing 3,600 units.

The 397-unit complex, at 1735 Brantley Road, was completed in 1985 and features amenities such as a resort-style swimming pool; 24-hour fitness center; lakefront jogging trails; and a car wash center.
The property also is located in close proximity to both Florida Southwestern State College and Interstate 75.

Lloyd Jones completed the transaction with roughly $38.21 million in financing provided by the South Florida office of Berkadia Proprietary Holding LLC, a joint venture between Omaha-based Berkshire Hathaway and Leucadia National Corp.

Berkadia obtained the funds from Freddie Mac’s “Green Up” program, which stipulates borrowers must commit to initiatives including water usage reduction. Freddie Mac’s loan to Lloyd Jones carries a fixed rate and matures in 2028.

Lloyd Jones officials did not return telephone calls for comment on the purchase. In all, the company owns 31 complexes in six states: Florida, Texas, New Hampshire, Michigan, Virginia and South Carolina. In Florida, the company’s portfolio includes the 432-unit Vibe at Gateway in St. Petersburg and the 160-unit Meetinghouse at Bartow.

In the other deal, Coastal Ridge Real Estate bought the 800-unit Coastal Village apartments in Estero for $44 million.
The 19401 Skidmore Way complex last traded for $32 million in January 2015, property records show. The community is located just a few miles from Gulf Coast University.

Coastal Village becomes the company’s fifth Florida holding, according to its website. It also owns multifamily rental properties in Gainesville, Panama City Beach and Lutz.

Earlier this year, Coastal Ridge spent $71.4 million to buy the 324-unit Spectra Apartments in Fort Myers, which had been completed in mid-2017 by Naples-based Stock Development.

Founded in 2013, Columbus, Ohio-based Coastal Ridge owns more than 4,300 apartments nationwide valued in excess of $1.6 billion, according to its website.

Company officials did not return telephone calls for comment on the Coastal Village property.
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The Westcott Apartments in Tallahassee (Credit Rent.com)

Lloyd Jones Capital, a Miami-based private equity firm, acquired a recently renovated apartment complex in Tallahassee for $57.8 million.

Lloyd Jones’ per-unit cost was about $120,000 for the 444-unit complex at 3909 Reserve Drive in Tallahassee, located five miles from the Capitol Building.

The rental complex, called The Westcott Apartments, was built in two phases, 300 units in 2000 and 144 in 2005.

It is the second apartment property in Tallahassee that Lloyd Jones has acquired. The Miami firm also owns Jackson Square Apartments, located six miles from The Westcott Apartments.

The Westcott has one-, two-  and three-bedroom units, and its amenities include two swimming pools, two gyms, playgrounds and tennis courts.

Lloyd Jones specializes in investments in rental housing and senior housing. – Mike Seemuth
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Lloyd Jones Capital, a private equity firm based in Miami, acquired Westcott Apartments for $57.8 million.Lloyd Jones Capital website.

Miami-based private equity firm Lloyd Jones Capital purchased Westcott Apartments near Tom Brown Park for $57.8 million.
Built in 2000 off Conner Boulevard, the apartment complex has 444 units ranging from one to three bedrooms. It also features two pools, tennis courts and two fully-equipped gyms.

This marks the company’s second acquisition in Tallahassee following the purchase of Jackson Square Apartments.

Lloyd Jones Capital specializes in multi-family and senior housing properties in growth markets throughout Florida and the Southeast.
Contact TaMaryn Waters at tlwaters@tallahassee.com or follow @TaMarynWaters on Twitter. 

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TALLAHASEE – Real estate private-equity firm Lloyd Jones has purchased The Westcott Apartments on the east side of Tallahassee for $57.8M. The 444-unit apartment complex at 3909 Reserve Drive is a newly renovated multifamily residence located five miles from the Capitol Building.

The Westcott was built in 2000 (300 units)/2005 (144 units) near Tom Brown Park and offers one, two- and three-bedroom floor plans. A key feature is the property’s metro connectivity and its direct access to downtown Tallahassee.

The Westcott is the private equity company’s second acquisition in the Tallahassee area, only six miles from its Jackson Square Apartments.
In line with its management strategy, Lloyd Jones plans value-add upgrades and improvements upon the Westcott’s already numerous amenities which include two swimming pools, two fitness centers, playgrounds, and tennis courts.

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About Lloyd Jones 
Lloyd Jones  is a private-equity real estate firm that specializes in the multifamily and senior housing sectors. Building on thirty-eight years in the real estate industry, the firm acquires, manages, and develops multifamily real estate in growth markets throughout Florida, Texas, and the Southeast. Its investors include institutional partners, family offices, private investors, and its own principals.

MIAMI – Lloyd Jones, a multifamily real estate investment firm has purchased the Anatole Apartment Homes in Daytona Beach.  The 208- unit apartment community enjoys a central location at 1690 Dunn Avenue, near retail shopping and dining, and minutes to the beach.

The investment strategy is a light value-add program: upgrading units and creating expanded outdoor entertaining opportunities.  Says Chris Finlay, chairman of Lloyd Jones, “It is always fun to provide new and improved amenities for our residents. I know they will love the results.  And our investors will love the steady income and capital appreciation this property will provide.”

This is the firm’s third community in Daytona, after the Granite at Porpoise Bay and The Meetinghouse at Daytona Beach, a 55+ senior living complex.  Says Finlay, “We’ve been in Daytona for ten years now. It’s a fabulous market.  Our properties perform exceedingly well, and we are thrilled to continue to expand our presence here.”

As an owner/operator, Lloyd Jones manages its own properties with its long-established operations team, formerly called Finlay Management.

About Lloyd Jones
Lloyd Jones is a private-equity real estate firm that specializes in the multifamily and senior housing sectors. Building on thirty-eight years real estate industry, the firm acquires, manages, and develops multifamily real estate in growth markets throughout Florida, Texas, and the Southeast. Its investors include institutional partners, private investors, and its own principals.

A Miami firm acquired a 15-year-old apartment complex in Jacksonville for $40.8 million, the Jacksonville Times-Union newspaper.

Lloyd Jones Capital, a Miami-based rental property investment firm, acquired the 282-unit Deerwood Park complex for about $145,000 per apartment.

A spokeswoman for Lloyd Jones Capital told the Times-Union that the firm plans to remodel the clubhouse at Deerwood Park and upgrade apartment interiors.

Lloyd Jones owns to other Jacksonville-area apartment complexes called The Meeting House at Collins Cove and Laurel Pointe.
In a press release, Lloyd Jones said its latest apartment-complex acquisition in the Jacksonville area is located in the Deerwood Office Park, which has 5.2 million square feet of office space and houses some of area’s largest employers.

Lloyd Jones also said in the release that its acquisition of the Deerwood Park apartment complex brought to nearly 5,000 the number of apartment units the firm owns. [Jacksonville Times-Union]  — Mike Seemuth
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Lloyd Jones Capital has acquired Seabrook, Texas-based Regatta Bay Apartments. The seller was FRBH Regatta Bay LLC. No financial terms were disclosed. Finlay Management, the operations group at Lloyd Jones Capital, will serve as the property manager.

PRESS RELEASE

MIAMI, Fla. – Lloyd Jones Capital, a Miami-based multifamily investment firm, has purchased the Regatta Bay Apartments from FRBH Regatta Bay, LLC. The property is located at 2555 Repsdorph Road in Seabrook, Texas, 30 minutes southeast of Houston. The acquisition adds 240 units to the Lloyd Jones portfolio of approximately 4,000 units spread over Texas, Florida, and the Southeast.

Says Chris Finlay, chairman/CEO of Lloyd Jones Capital, “This is a well-maintained, core-plus property that we intend to hold for several years. We expect it to provide a steady, long-term cash flow for our investors.”

Built in 2003, the property offers one-, two-, and three-bedroom apartments; garages; and a modern, updated clubhouse. Lloyd Jones Capital will implement a light value-add program to further upgrade the units. Finlay adds, “Our local teams scour Texas and the Southeast for investment properties. They are hard to find in this economy, but we’ve got another good one here.”
According to Finlay, property management will be handled by Finlay Management, the operations group at Lloyd Jones Capital. Finlay Management is an Accredited Management Organization (AMO®) as designated by the Institute of Real Estate Management (IREM®) and has a 30-year history in the industry.

About Lloyd Jones Capital

Lloyd Jones Capital is a private-equity real estate firm that specializes in the multifamily sector. With 37 years of experience in the real estate industry, the firm acquires, improves, and operates multifamily real estate in growth markets throughout Texas, Florida, and the Southeast.
Lloyd Jones Capital provides a fully integrated investment/operations platform. Its property management arm partners with the investment team to provide local expertise in each of its markets.
Headquartered in Miami, the firm has offices throughout Texas, Florida, and the Southeast, plus New York City. The firm’s investors include institutional partners, private investors, and its own principals.

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