About The Meridian at Fondren
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Meridian at Fondren, a 245-unit, 2016-built apartment community located in Jackson, MS. The asset’s luxurious interiors, best-in-class amenities, and centralized location embedded amongst The University of Mississippi Medical Center (UMMC) via a ground lease with UMMC, caters to an upscale tenant base exemplified by an average household income of $88K+ within 1 mile of the asset. The asset affords residents luxurious finishes with modernized use of space while maintaining walkability to quality dining, shopping, entertainment options, along with UMMC & St. Dominic with its 13,000+ combined jobs. With strong in-place demand, management has successfully pushed rental rates $100+ on the latest leases, and the next owners can initiate a light value add program and push rents $85-$115 with minimal capital spent. Built in 2016, The Meridian at Fondren arrives to market 96% occupied with strong operational trends providing new ownership a foundation for immediate growth in an irreplaceable location in Jackson.