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.