Spotted in the press
Lafayette Acquires Sawyer’s Preserve in Jacksonville, Florida, with Plans to Construct a 214-Unit Build-for-Rent Townhome Community
Land acquisition followed by horizontal and vertical development as Lafayette increases its focus on the fast-growing Build-for-Rent sector
First units available for rent beginning first quarter of 2022
New York, NY & Jacksonville, Fla. – March 16, 2021 –Lafayette RE Management (“Lafayette”), a real estate investment management company that develops, builds, and acquires single-family homes for the rental market, announced today the acquisition of a 19-acre parcel of land with plans to develop Sawyer’s Preserve, a major townhouse development. Lafayette will oversee the horizontal and vertical development, as well as ongoing property management, reflecting the firm’s strong emphasis on the growing build-for-rent (BFR) sector.
Situated eight miles from downtown Jacksonville, Sawyer’s Preserve will offer 214 spacious townhomes, with 146 3-bedroom homes and 68 4-bedroom units, and amenities including a swimming pool and cabana. The property will be managed by Lafayette’s internal property management company, Brandywine Homes USA.
Florida’s largest city, Jacksonville is also one of the nation’s fastest-growing major metropolitan areas, with a substantial, ongoing influx of young professionals, drawn to a relatively low cost of living and an employment landscape that has shown resilience during the COVID-19 pandemic. Top employers include a number of Fortune 500 companies, and Amazon Logistics recently announced plans to open its ninth facility in the city. Additionally, since the mid-2000s Jacksonville has experienced a housing shortage, strengthening the need to add more supply and the relevance of the build-for-rent investment strategy to this local market.
The first completed units at Sawyer’s Preserve are anticipated to be available for rent in the first quarter of 2022.
Founded in 2011, Lafayette is a specialized investment manager with more than $500 million in assets under management, focused on the single-family home asset class in the US through acquisition, development and mortgage finance investment strategies.
Please visit www.lafayette-re.com for additional information.
For Lafayette Real Estate:
Liya Mo, Senior Associate
Bill Douglass, Gotham Communications