IncomePlus Fund

Linden House

Jacksonville,

FL

Total Required Equity
$19,898,573
Asset Type
Multifamily
Investment Objective
Development
Projected IRR
17%
Hold Period
5 Years
Investment Date
September 2021

Investment Summary

Linden House is a 295-unit Class-A development in the brand-new Bartram Park neighborhood of Jacksonville, Florida. Bartram Park is located about 25 miles southeast of downtown Jacksonville on the border of Duval County and St. John’s County. The project has been fully approved by the city and construction will begin soon.

Key Deal Points

Our partner on this project is RISE. Founded in 1995, RISE is a top-tier vertically integrated developer, manager and construction company with an office right in Jacksonville, plus another location in Valdosta, Georgia.

The Bartram Park submarket has a projected average rent growth over the next five years of 2.65% and the average occupancy rate in the submarket today is at 97.86%.

The submarket’s affordability ratio, a measure of household rent expenditure relative to household income, is a strong 17%, as compared to the national average of 30%. From 2020-2021, population growth in the project’s submarket was an impressive 11.39%.

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