Multi-Housing

Wall Street Lofts, The

100 N Main St Midland, Texas United States 79701-2564
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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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2015
Building Area Net
Number of units 108
Occupancy 93.0 %

Property Description

Jones Lang LaSalle Americas. Inc. or its state licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in Wall Street Lofts (the “Property”) in Midland, TX. Situated in the heart of the Permian Basin, the leading U.S. energy producing region, Wall Street Lofts is the premier asset in Midland as it is the only Class A property located in the Midland CBD providing residents with immediate access to an abundance of neighboring employment, retail, and restaurants. Completed in 2015, the Property consists of 108 units and offers upscale unit interiors and community amenities in addition to 5,203 square feet of ground floor retail.

Investment Highlights

Trophy, One-of-a-Kind Asset – Potential buyers are presented with the rare opportunity to acquire a core, trophy asset below replacement cost. The property enjoys a true competitive advantage being the only midrise, wrap construction property within the Midland MSA, as well as the only luxury apartment community in the Midland CBD. Unique for the market, Wall Street Lofts is the premier apartment choice within the City and specifically for tenants who desire a walkable Downtown location.


Market Leading Asset with Astounding Growth – Given the uniqueness of the property and unmatched location, the Property has experienced incredible rental and income growth since being developed. Effective rents have increased from $1,244 per month in 2017 to $1,503 per month as of August 2021, representing a 21% increase of approximately $236. In addition, Net Operating Income has increased 27% during that same time.

Furthermore, effective rents increased 63% from 2017 to previous high in 2019 while NOI rose 128% during that same time.

Last Updated Date: 30 Sep 2021
Steven Hahn Jr.
Steven Hahn Jr.
Senior Director, Capital Markets
License details
TX-615904 OK-184952
Art Barnes
Art Barnes
Director, Capital Markets
License details
TX - 671285

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Last Updated Date: 30 Sep 2021

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