The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present Jennings Place, a 237-unit, class A, build-to-rent community in Pensacola FL, built by the nation’s largest builder, D.R. Horton. Jennings Place is located in Pensacola, ranked the #3 emerging multifamily market in the US. The asset is 1.5 miles from Navy Federal Credit Union’s (NFCU) $1B+ campus that is ahead of schedule to employ 10,000+ by 2026, and directly across from OLF-8, a 630-acre master plan initiative. The BTR community features 100% attached garage, private, fenced yards, top-of-market interior amenities, and smart technology packages. The proximity of NFCU’s expanding campus, the OLF-8 initiative, favorable leasing trends (19 new move-ins since the start of 2023 as of 2/13/2023), and high resident median HHI ($121K+) combine to make Jennings Place an outstanding opportunity to acquire a top of market BTR asset in a nationally ranked emerging market. The property was fully delivered in the last quarter of 2022, and is currently going through lease-up, with Ph. I currently occupied at 74%.
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