Trout River

110-Unit BTR Townhome Community | Jacksonville, FL

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The Opportunity

IPA is pleased to present Trout River (“The Property”), a 110-unit, townhome-style rental asset located in the high-growth Jacksonville market. The Property is a truly unique asset class, offering the low-density feel of a single-family community. Soon to be completed in 2025, homes consist of two-story townhomes that include direct-access entry, covered-patios, and private garages with driveway. Interiors boast spacious, open-concept designs that are well-appointed with luxurious finishes such as waterproof vinyl-flooring, quartz countertops, modern hardware throughout, stainless steel appliances, island kitchens with bar-style seating, smart-home technology – including smart thermostat, video door-bell and more.

Key Investment Highlights

PROVEN, TOP-TIER-QUALITY TOWNHOME-PRODUCT – DEVELOPED BY NATIONAL HOMEBUILDER, DR HORTON

Trout River is currently under construction via DR Horton (Developer) – and will be delivering finished-product in 2025

Irreplaceable frontage and visibility along Interstate 295 with over 70K vehicles passing each day

<1 mile east of I-295 & Philips Hwy-interchange, providing access to Jacksonville’s largest employment hubs including Downtown, Northside Jacksonville, Westside Industrial Park and more – all within 15 minutes

Limited future supply pipeline – no market-rate or BTR communities under construction within a 5-mile-radius of the subject

Within 15-minutes of 8 Jacksonville Hospitals including Jacksonville VA Hospital, UF Health Jacksonville & North Campuses, Downtown Medical District & more

STRONG MULTIFAMILY FUNDAMENTALS

23K jobs within a 5-mile radius

12.8 jobs added YOY (4Q24) which represents a 1.6% increase in the Jacksonville MSA

8.5% population growth (1.7% annually) within a 1-mile radius over the past 5 years (2020-2024)

6% additional population growth (1.2 annually) forecast within a 1-mile radius – between 2024 and 2029