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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Attributes

Year Built 2020
Building Area
Number of units 480

Property Description

JLL, as exclusive advisor, is pleased to present Jefferson Vista Canyon (the “Property” or “JVC”), a 480-unit, generational core multi-housing investment opportunity located in the thriving Santa Clarita Valley. Completed in phases throughout 2020 and 2021, the Property defines a new class of living for Santa Clarita as its contemporary residences and unmatched upscale community amenities clearly distinguish JVC from its competitive set. As evidenced by the exceptional lease-up, the Property is primed to be the markets premier multi-housing community yielding durable cash flow in one of Los Angeles County’s highest growth submarkets.

Investment Highlights

  • Sizeable Brand New Construction Offering: Jefferson Vista Canyon’s size represents the largest institutional, new construction multi-housing community in the Santa Clarita Valley. In the last 10 years, within the city of Santa Clarita, there has been only one market rate property over 100 units, other than Jefferson Vista Canyon, that has delivered.
  • Truly Differentiating Luxury Product with State-of-the-Art Finishes & Amenities: Jefferson Vista Canyon’s focus on high-quality design and functionality has created a residential experience that is unlike any other community in the market. Furthermore, JVC represents Santa Clarita’s first and only newly constructed apartment community offering a plethora of communities amenities across two (2) phases accessible to all tenants residing at the Property.
  • Exceptional Lease-Up: Jefferson Vista Canyon has experienced an exceptional lease-up as a result of the pent-up demand for new, luxury apartments in a highly amenitized community within Santa Clarita. JVC has averaged ±31 move-ins per month since the first TCO in October 2020, however, this number has dramatically increased to ±43 move-ins per month since March 2021, highlighted by ±58 move-ins in May 2021, ±47 move-ins in July 2021, and ±41 move-ins in August 2021.
  • Advantageously Located Within Santa Clarita’s Premier Mixed-Use Master Planned Community: The Vista Canyon Master Plan will provide residents and visitors of the area significant lifestyle and employment demand drivers centered around a premier Town Center “Main Street”. Once completed, the Vista Canyon Master Plan will produce a market-leading environment in which residents and visitors will enjoy a highly amenitized, balanced lifestyle.
  • Business-Friendly Environment Drives Economic Expansion: The Santa Clarita Valley is rapidly becoming Southern California’s premier destination for nearly every type of business related to the production of high value goods or professional services. A highly educated workforce, abundant workspace, and strong training and business support programs make the Santa Clarita Valley a great choice for growing firms.
  • Excellent Location and Quality of Life Foster Optimal Tenant Demographics: As a result of top-rated local schools, access to high-paying jobs, and a desirable location, the Santa Clarita Valley continues to attract an influx of well-educated and high-earning residents, which is demonstrated by the extreme population growth projected over the next 15 years.
  • Transit Oriented Convenience: Located adjacent to State Route 14, within close proximity to Interstate 5, and featuring an embedded Metrolink commuter rail station, JVC further positions itself as a one-of-a-kind apartment community. The Property offers residents a true transit-oriented lifestyle and the ability to conveniently access major employment centers in the neighboring San Fernando Valley and throughout Greater Los Angeles.
  • High-Growth Suburban Submarket with Strong Multi-Housing Fundamentals: Since 2015, the submarket has averaged ±4.5% annual rent growth and ±94.5% occupancy (CoStar). The outlook for the multi-housing fundamentals in the region are even stronger, as renters continue to move from urban markets to the more affordable, spacious suburban Santa Clarita Valley.
  • Homeownership Premium Substantiates Significant Rental Upside: According to Zillow, Santa Clarita home values have gone up 19.4% since the beginning of the year. The average SFR list price in Santa Clarita is currently ±$982,000, which presents rentership as the financially preferred living option for young affluent residents who cannot afford to own a home.
Last Updated Date: 08 Sep 2021
Peter Yorck
Peter Yorck
Managing Director
License details
01999279
Nick Lavin
Nick Lavin
Director, Capital Markets
License details
CA-2081747

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Last Updated Date: 08 Sep 2021

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