Vue at 1400 was acquired on December 19, 2019. Vue is a well-located infill property in West Palm Beach, FL, consisting of 316-units and built in 1991. Vue fits well with McDowell’s core+ strategy since the property was heavily renovated within the last few years prior to acquisition, leaving limited capital needs. The risk adjusted returns and quality of the property are also very attractive. The Vue business plan consists of light enhancements to the unit interiors, asset preservation capital, and more hands-on management.
This garden-style property consists of 11 two and three-story apartment buildings housing 316 units, ranging from 500 to 1,000 square feet. The property is located in West Palm Beach, FL, offering residents both golf coursees and waterfront views. Apartments units are complete with in-unit washer and dryers, modern finishes, upgraded appliances, and new cabinetry, and private patios. The property also provides luxurious amenities like a sparkling outodor pool and sundeck, fully equipped fitness center, clubhouse and BBQ and picnic area.
Alongside the Atlantic Ocean and home to world-class beaches, entertainment, and tourism, the Vue is situated in an exciting West Palm Beach location offering an array of job opportunities in tourism, cultural arts, and agriculture through a variety of local manufacturers. West Palm Beach’s population has been steadily growing and the area recently added 27,100 new private-sector jobs from the year 2020. The property’s idyllic location offers easy access to downtown, freeways, major employers, shopping, and plenty of entertainment options. The Palm Beach Outlets, Bear Lakes Country Club, The Home Depot, Whole Foods Market, Best Buy, and Lake Mangonia are all located nearby. The asset is also less than five miles from Palm Beach International Airtport, downtown West Palm Beach, Keiser University, and Palm Beach State College. Some of the largest employers in the area include Palm Beach County School District, Tenet Coastal Division Palm Beach County, Palm Beach County Board of County Commissioners, Veterans Health Administration, Florida Crystals Corporation, and Pratt & Whitney, A Raytheon Technologies Company
- 24-Hour Fitness Center
- Resort Style Swimming Pool
- BBQ and Picnic Area
- Dog Park
- Waterside Walking Path