Portfolio

Enclave at Clemson

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Key facts

Building Area Net
Number of units 146
Occupancy 99.0 %

Portfolio description

Jones Lang LaSalle, L.P., JLL Real Estate Limited (collectively, “JLL”) proudly presents The Enclave Portfolio, a 146 unit / 382 bed value-add portfolio at Clemson University (“Clemson”), conveniently located on the CAT Bus line. The Portfolio is 99% occupied and over 58% pre-leased with 5% rent growth for Fall 2022. The Portfolio is comprised of The Enclave at In Town (“In Town”) and The Enclave on Old Central (“Old Central”) and offers new ownership the opportunity to complete a proven renovation plan and renovate the remaining 202 beds (53%) which would result in an additional $68,487 in annual income. Additionally, the delta between The Portfolio’s in-place rents and the competitive set is over $250 per bed allowing new ownership the ability to push rents past the $29 that has already been achieved. Clemson is a nationally recognized ACC university with Fall 2021 enrollment of 26,908 and has averaged 3.0% or 677 students in annual enrollment growth for the past decade. There is a development moratorium in-place which will limit new supply and allow for continued rent growth within the City of Clemson.


Broker of Record: Lee B. Allen —  License # SC - 74245


Investment highlights

  • 99% occupied and 58% pre-leased for the Fall 2022 academic year with 5.0% rent increases.
  • 47% (180 beds) of the portfolio has been upgraded and is achieving $29 per bed in rent premiums. New Ownership is awarded the opportunity to upgrade the remaining 53% (202 beds) of the beds which would result in an additional $68,487 in annual revenue.
  • There is currently a $256 per bed gap between in-place rents and the competitive set allowing an investor the opportunity to achieve additional rent growth. 

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Enclave at Clemson (2 Properties)
The Enclave in Town
Clemson, SC, United States
The Enclave on Old Central
Central, SC, United States
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Last Updated Date: 18 Apr 2022

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