INVESTMENT HIGHLIGHTS
• Fully stabilized asset at a very attractive basis.
• Proven Value-Add renovation strategy achieving $130+ rent premiums.
• Significant delta between classic units and the median rent comps in the marketplace
• Over $800m in Federal Funding has just been granted towards Jackson’s infrastructure
• Conveniently situated with easy access to I-220 and I-55
• Close to major employers in the healthcare and manufacturing sectors which collectively employ more than 40,000 individuals
The Opportunity
Berkadia is pleased to present the exclusive opportunity to acquire Briarwood Park, an 80-unit, 10-building community located in Jackson, Mississippi. Nestled just north of Downtown Jackson, the property’s two-story buildings are within convenient proximity to major employers, shopping, dining, and recreational activities.
Briarwood Park offers investors several unique advantages, including increased revenue generation and value-add opportunities. Constructed in 1974, most of the units remain in “classic” condition, leaving the asset primed for renovation and updated amenities. Eight units have been upgraded and commanding $130 per unit premiums with a waiting list. A strategic capital infusion to the remaining units and exterior will achieve not only a $130+ rent premium per unit, but also long-term value appreciation for the life of the property. With a mix of 75% one-bed / one-bath and 25% two-bed / one-bath floor plans, Briarwood Park presents investors with immediate scale at an attractive price per unit basis.
With a strong area renter population of 50% and mostly white-collar employees, there is profound demand for reliable, updated rentals in the Downtown Jackson area. In addition, Briarwood Park is just minutes away from the major arterials of I-220 and I-55, making access to the city’s largest employers easy for residents. Also noteworthy, Mississippi enjoys “non-disclosure” status, which allows for a significant degree of privacy in terms of publishing sale price information.
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The Location
GALLERY
167 Briarwood Dr. Jackson, MS 39206
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167 Briarwood Dr. | Jackson, MS 39206
Briarwood Park
1974
BUILT
$5M
LIST PRICE
80
UNITS
The Opportunity
The Location
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Michael SlovitT
Managing Director
312.845.3082
michael.slovitt@berkadia.com
MORTGAGE BANKING
Patrick Jordan
Senior Director
901.425.1828
patrick.jordan@berkadia.com
Ben Parrish
Associate Director
901.425.1829
ben.parrish@berkadia.com
INVESTMENT SALES
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Germantown, TN 38138
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© 2023 Berkadia Proprietary Holding LLC
Berkadia® is a trademark of Berkadia Proprietary Holding LLC
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada.
In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing
© 2023 Berkadia Proprietary Holding LLC
Berkadia® is a trademark of Berkadia Proprietary Holding LLC
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada.
In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
$5,150,000
LIST PRICE