12 October, 2022 | Sold: The Addison at Clermont

JBM Institutional Multifamily Advisors has brokered the sale of The Addison at Clermont – a Class A+ multifamily community in the Orlando suburb of Clermont, Florida. Built in 2020, the property sits on a 19.34 acre +/- site. Consisting of 15 residential buildings, this garden-style community is comprised of 230 units averaging 1,111 square feet.

“I’d like to congratulate both Cottonwood Residential and ContraVest on another JBM Class A transaction,” said Jamie May, JBM Chairman & CEO. “The long-term HUD financing on the deal made a loan assumption scenario very attractive in this ever-changing interest rate climate. This is our 3rd merchant development we’ve sold for ContraVest and we look forward to many more!”

Amenities include a resort-style pool with cabanas, fire pit, grilling station, state-of-the-art fitness center with a FitnessOnDemand® room, game and media room, bronzing studio, indoor dog wash station, upscale car care center, and dog park. The Addison at Clermont offers both attached and detached garages, as well as storage units. The Property is NGBS Green Certified™.

Apartment amenities include modern, 42″ cabinetry, luxury faux wood-style plank flooring, granite countertops throughout, glass subway tile backsplash, GE® stainless steel appliances, pendant lighting in kitchen, walk-in closets, and select units feature 13′ ceilings.

Also, part of the transaction are two undeveloped parcels totaling 1.03 acres +/- at the entrance to the Property. Allowable uses are office, retail, or restaurant.

Clermont is one of the fastest growing areas in Florida – growing by more than 48% since 2010. Future job growth in the area over the next 10 years is projected to be 53% – 19.5% higher than the national average. Notably, this property is located within 3 miles of two Publix Super Markets, less than 1 mile from the AdventHealth Clermont ER, less than 1.5 miles from Orlando Health South Lake Hospital, and just 25 minutes from downtown Orlando.

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