- acquisition date July 19, 2017
- July 19, 2017
- address805 North Olive Ave, West Palm Beach, FL
- 805 North Olive Ave, West Palm Beach, FL
- number of units259
- square footage213,272
Loftin Place is a newly constructed, 259-unit Class “AAA” community located in downtown West Palm Beach, Florida.
Completed in late 2015, the eight-story property features market-leading amenities including a rooftop tennis court, jogging track, gazebo, lounge and landscaped sundeck; resort-style pool with lap lanes; state-of-the-art fitness center and yoga studio; outdoor billiard table and BBQ area; conference center and resident catering kitchen; and garage with remote access. Studio, one-, and two-bedroom units feature nine-foot ceilings and high-end finishes including quartz countertops, European-style kitchens, stainless steel appliances, frameless shower enclosures and private patios and balconies. The property was built with energy efficiency in mind, and includes LED lighting and Energy Star appliances throughout. Tenant incentives to encourage the eco-friendly use of bicycles include ample storage and a free onsite repair shop.
Loftin Place is centrally located in a highly desirable community that offers residents a vast array of amenities, many within walking distance. Premier shopping, dining and entertainment destinations including Clematis Street, CityPlace and Waterfront Commons are just minutes away, as are the region’s pristine sand beaches. Nearby medical facilities include Good Samaritan Medical Center, JFK Medical Center’s North Campus and Lake Worth locations, and St. Mary’s Medical Center/Palm Beach Children’s Hospital.
The community also is situated near several of the region’s major transportation arteries, including U.S. Route 1 and Interstate 95, and is adjacent to the free Downtown Trolley line, which provides access to Clematis Street, CityPlace, Kravis Center, the waterfront and the Tri-Rail station.
The West Palm Beach MSA has experienced 4.1 percent job growth annually for the past two years, with 2.6 percent annual job growth projected through 2019. More than 11,500 jobs were added in 2016, primarily in the areas of financial services, business and professional services, education and health.