Portofino Club Apartments
Jacksonville, Florida
Invest In A Private Real Estate Opportunity Today
We are excited to announce that we are partnering with a very experienced sponsor to offer an opportunity to invest in Portofino Club Apartments.
This 230-unit, garden-style apartment complex is located in Jacksonville, Florida.
Target Returns
Preferred
Return:
8%
Equity
Multiple:
XXx
Internal Rate of
Return (IRR):
xx%
Annual Average
Return (AAR):
xx%
For Accredited Investors only: Income > $200k, (or) combined w/ spouse > $300k, (or) combined net worth > $1M.
Performance estimates are not a guarantee of future results.
Boost Wealth Fund is an SEC Reg. D 506(c) filing, Investment Company Act Section 3 (c)(1) exemption, Accredited Investors only.
See our full offering materials for more details on risks.
Proven Value Add
Renovations will be phased over three years, providing an expected average market rent increase of $220/unit.
We will modernize all 230 interiors, closing the rent gap between the Property and the new construction/renovated competitive product in the submarket.
100% of the units have their original classic condition.
Naval Air Station Jacksonville employs over 23,000 people, making it the largest employer in the Jacksonville area. Healthcare providers Baptist Health and Mayo Clinic employs over 22,000 and Bank of America 7,000.
The median household income of $83K resulting in a rent to median income ratio of 19%.
Desirable Location
Strong Market
Charlotte, one of the largest city in the US, ranked #6 for population growth from 2022-23.
Jacksonville added over 15,000+ new jobs during the past 12 month, which represents a 1.9% increase in total jobs in the city (US Bureau of Labor Statistics).
The purchase price is 20% below a previously contracted offer and 23% below sales comps on a per-unit basis.
Capital Expenditure budget of $3.1MM.
Noteworthy
Investor Presentation Replay
Drone Video
Timeline
Portal registration: September xx
Execute documents: September xx
Funding deadline: September xx
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