Lloyd Jones

MIAMI, FL– Ventura Pointe Apartments, a luxury apartment community in Pembroke Pines, FL, recently commissioned Miami-based artist Douglas Hoekzema, aka Hoxxoh, to create a mural at its pool deck.

The artist is known for his circular, vortex-like pieces featuring an array of colors. Hoxxoh has painted commissioned works at the Miami Marine Stadium, Hyde Hollywood Resort, and several sites in Wynwood, to name a few.

Built in 2018, Ventura Pointe was recently acquired by Lloyd Jones LLC, a real estate investment, development, and property management firm based in Brickell, Miami. While Ventura was purchased in nearly brand new condition with Class A amenities already in place, the firm wanted to add a unique touch to the pool deck with a large art piece.
Lloyd Jones believes incorporating local touches into design elements is a distinctive amenity that real estate developers and property management firms can offer residents.

“We strive to connect with the communities we serve, and one incredible way to do that is to support our region’s artists,” said Stuart Keller, SVP of Asset Management for Lloyd Jones LLC. “Hoxxoh was the perfect choice to design the mural—not only for his talent, but because he’s also part of the South Florida community.”
According to the artist, a percentage of the commissioned proceeds will be donated to World Central Kitchen and Hospitality Helping Hands, two nonprofit organizations aimed at serving meals to those impacted by the COVID-19 crisis and keeping restaurant workers employed.

For more information about Ventura Pointe Apartments, visit www.venturapointe.com. To learn more about the artist, visit www.elhoxxoh.com/.

Covid-19 has affected all our daily lives. What at first seemed like a virus abroad has quickly crossed borders and disrupted how we live and work. That said, for senior housing operators, this disruption and how we respond to it is a matter of life and death.

Critical measures must be taken in order to mitigate the risk of Covid-19. With this in mind, Lloyd Jones is taking a multifaceted approach to mitigation.

First and foremost, we are staying up to date and complying with federal and state guidelines. We immediately restricted all visitors, including physical therapists and outside nurses. However, we are helping our residents communicate with family via email and video/phone calls to ensure that they are staying connected. We are reducing staff, and those who are working are regularly tested for the virus. Also, they must wear personal protective equipment at all times. Our offices and amenities are closed, and only critical maintenance requests are approved.

In parallel, our housekeeping efforts are at an all-time high. All high touch areas are cleaned multiple times daily. In addition to the common areas, apartments are being cleaned more frequently. In the dining room, tables and chairs are wiped down after every seating. Lunch seating is staggered, and all residents wear masks outside of their apartments. For the time being, dinner is served inside of the individual apartments.

Physical and mental health are of the utmost importance during times of stress. All group activities have been canceled, but our teams are conducting multiple exercise/meditation groups per day with a limited number of residents. Furthermore, the teams are offering more one-on-one time with the residents.

For us, these steps are not guidelines, but rather strict protocol to ensure the safety and health of our residents and staff. We look forward to returning to some form of normalcy but will take with us the lessons learned during this time to ensure continued safety and health throughout the future.

MIAMI – Lloyd Jones, a real estate investment firm based in Miami, has recently acquired a 292-unit apartment community, Avisa Lakes Apartments. Conveniently located in East Orlando, Avisa Lakes is the third property Lloyd Jones owns and operates in the area.
Built in the mid-1980s, the property features an all-encompassing amenity package including a newly renovated fitness center, resident game room, outdoor summer kitchen, sports court, and two pet parks. Additionally, it is walking distance to AdventHealth East Orlando, a 295-bed facility that was ranked the number one hospital in Florida in 2019.

“The explosive economic growth in the area indicates a strong demand for multifamily properties,” explains Christopher Finlay, CEO/Chairman of Lloyd Jones. “We are thrilled to further expand the firm’s portfolio to support nearby major employment centers including Downtown Orlando, Winter Park, the airport, and various theme parks,” he continues. According to the U.S. Census Bureau, Orlando continues to be one of the fastest-growing cities in the country, welcoming over 60,000 new residents in the past two years.

ABOUT LLOYD JONES
Lloyd Jones, LLC is a real estate investment and development firm with 40 years in the industry under the continuous direction of Chairman/CEO, Christopher Finlay. Based in Miami, the firm has divisions in multifamily investment, development, management, and senior living. Its investment partners include institutions, private investors, and its own principals.
For more information about Lloyd Jones, visit www.LloydJonesLLC.com

MIAMI, FL – Lloyd Jones, a multifamily investment firm based in Miami, has purchased the luxury Pembroke Pines property, Ventura Pointe.

The 206-unit apartment community, built in 2018, has a state-of-the-art gym, clubhouse, pool, pet park, and outdoor recreation area. Furthermore, it is adjacent to the 301-bed Memorial Hospital Pembroke and has excellent access to nearby retail and entertainment.

“I am excited to grow our South Florida portfolio. We have seen tremendous growth in the area, and we are happy to be able to offer a new, Class A property to support the growing population,” says Finlay.
Lloyd Jones is a real estate investment and development firm with 40 years in the industry under the continuous direction of Chairman/CEO, Christopher Finlay. Based in Miami, the firm has divisions in multifamily investment, development, management, and senior living. Its investment partners include institutions, private investors, and its own principals.

Link: https://www.multifamilybiz.com/news/9005/multifamily_investment_firm_acquires_ventura_point…

MIAMI, FL — Lloyd Jones, a multifamily investment firm based in Miami, has purchased the luxury Pembroke Pines property, Ventura Pointe.

Christopher Finlay, CEO/Chairman of Lloyd Jones, says he is thrilled to expand the firm’s footprint in South Florida, a region that has seen explosive job and population growth in the past few years. “I am excited to grow our South Florida portfolio. We have seen tremendous growth in the area, and we are happy to be able to offer a new, Class A property to support the growing population,” says Finlay.

ABOUT LLOYD JONES
Lloyd Jones, LLC is a real estate investment and development firm with 40 years in the industry under the continuous direction of Chairman/CEO, Christopher Finlay. Based in Miami, the firm has divisions in multifamily investment, development, management, and senior living. Its investment partners include institutions, private investors, and its own principals.

For more information about Lloyd Jones, visit www.LloydJonesLLC.com

By executing a value-add strategy, many investors have been able to increase returns on their multifamily investments. Value-add investments generally target assets that have existing cash flow, but also offer the upside potential of increasing that cash flow through repositioning and implementing improvements to the property. As a result, the property can command higher rents, attract quality tenants, increase tenant satisfaction/retention as well as increase operating efficiencies.

According to the Yardi Matrix report, U.S. multifamily rents grew 3.2% year-over-year from May 2018 to May 2019. Multifamily operators typically increase rents, but in addition they can achieve an even higher rent premium in assets that have room for improvements.

In multifamily real estate, there are many ways an operator can reposition the property and create value. These includes adding value in the form of interior renovations, exterior improvements to the property, and amenities to achieve higher marketability and resident comfort. Strategic improvements can turn an under-performing asset into a high-performing asset. Such enhancements include interior unit renovations with upgraded appliances, cabinets, flooring, lighting and plumbing fixtures, depending upon the market and level of upgrades warranted. Upgraded community amenities often include an expanded fitness center, outdoor entertainment areas , and clubhouse modernization. Once the operator has successfully executed the value-add program, the property should yield a rent premium in addition to the standard rent growth in the market. Successful value-add opportunities offer cash flow throughout the hold period and capital appreciation at sale.

Lloyd Jones’ top three recommendations can be grouped into: interior renovations, curb appeal, and upgraded amenities
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1. Interior renovations: Upgrading the units themselves typically involves new cabinetry or appliances and perhaps better flooring. This adds value while aiding in keeping turnover low because these changes directly enhance the quality of life of each resident. At the same time, these energy efficient, maintenance-reducing improvements often decrease the operating expenses of the property.

2. Curb appeal: Not only could improving the landscape of the building please the tenants, but it is likely to catch the attention of potential new residents as well.

3. Upgraded amenities: This can result from enhancing existing amenities such as pools or gyms, or creating new amenities like a dog park or Amazon package locker system. Such changes will offer residents benefits that are typically difficult to access in other types of housing.

Renters often oppose rent hikes. They have many choices in multifamily housing so it is crucial for operators to implement strategies that provide unique or in-demand amenities for which residents are willing to pay premium rents. Without resident satisfaction, there are no fruitful yields for the investment.

Since the Fed announced its rate cut on July 31st, talks of recession have consumed the markets. With the pending Fed meeting on September 17th, it is largely expected that a consecutive rate cut will follow. A continuation of rate cuts would indicate that the Fed believes the US economy is contracting, and thus we are more likely to be closer to the looming recession.

According to Economist John Mauldin, “Lower asset prices aren’t the result of a recession. They cause the recession. That’s because access to credit drives consumer spending and business investment. Take it away and they decline. Recession follows. The last credit crisis came from subprime mortgages. Those are getting problematic again. But I think today’s bigger risk is the sheer amount of corporate debt, especially high-yield bonds.”

Economists such as Mauldin are pointing to the high levels of corporate debt as the cause of the next recession, or in other words, the “bubble”. Bubbles occur when the market prices an asset above it’s true value. For investors seeking yield but wanting to avoid the risk of investing in corporate debt, real estate investments are a suitable option.

Real estate investments, particularly multifamily, are often recession-proof investments. Multifamily real estate is recession-proof because during down markets renters have largely proven to maintain their rents. Such housing doesn’t carry the risk of other classes such as single family. The charts below show the percentage change in the prior year for rental and for sale houses from 2008 to 2018. As illustrated below, during the recession of 2008, rental vacancies dropped less than 1% in the following year while housing vacancies decreased by 10%.

The Fed’s next meeting may indicate how quickly the looming recession could occur, but sophisticated investors will position themselves to be prepared in advance.

10,000 baby boomers are retiring daily. Similar to the previous generation, baby boomers will be downsizing and seeking a new style of living, but their preferences will be extraordinarily different than that of their predecessors.

4 key areas will shape the way in which baby boomers will retire:

1. Technology: contrary to the generations before, baby boomers have access to modern technology that will influence how they spend their retirement. Wearables, home devices like Amazon’s Alexa or Google’s Echo, and tablets are helping seniors stay connected while improving their lives.

2. Well-being: fitness regimes and nutritious lifestyles are growing trends that are desired by seniors. Facilities that incorporate classes and offer a means to stay fit and healthy will help slow down aging and be more sought after as a result.

3. Personalized care: another way in which the baby boomers will be differentiated from the generations before will be the ways in which they are cared for. The boomers will expect personalized care and concierge style services to meet their needs, and they will not tolerate the condescending way in which many have been treated in senior living facilities.

4. Community: According to the Pew Research Center, the number of adults living alone has been steadily declining since 1990. PRC also states that older adults who live alone are less likely to be financially comfortable, have contact with friends or family, and spend time on hobbies (see sample chart below). Given these statistics, it is more important than ever that senior living offer a community-based lifestyle to keep older adults vibrant, happy, and engaged.

A few weeks ago the WSJ reported that “U.S. homeownership rate fell for a second straight quarter, as high prices and limited starter-home inventory are steering more households toward renting.” This coupled with the fact that home prices rose over the last 2 decades while wages have remained stagnant (see chart below) confirms that we are living in a rental economy.

Although the economics of wages, home prices, and supply drive many hopeful homeowners into renting, others prefer renting for mobile flexibility, lack of debt, and access to amenities and advantages that they may not otherwise have in a single family home.

In Freddie Mac’s recent survey of renters and homeowners, 82% of renters stated that renting is more affordable for them (see chart below). This percentage has steadily increased from 69% in January 2016, further affirming the idea that the rental economy is here to stay.

Less than two weeks ago, the U.S. Federal Reserve announced its first rate cut since 2008. This decision surprised few given the uncertainty in the economy and global trade tensions. What did perhaps surprise many was the effect that the Fed’s decision had on the bond markets. Since the Fed’s announcement on July 31, the 10-year treasury yield has dropped from 2.02 to 1.73. But what does this mean for investors’ portfolios?

According to Economist John Mauldin, “the longer an inverted yield curve persists and the deeper it gets, the higher the probability of recession within the next 9–15 months.” Mauldin predicts a flight of capital toward high-yield junk bonds. Such assets may be able to provide yield, but at what cost?

The safest yield-producing investment during such tumultuous times is multifamily real estate. We have been specializing in multifamily real estate for 40 years because during down markets, it is the most resilient asset class (see Figure 1 below from CBRE Research).

We are already witnessing some of the most high profile investment firms, such as Iconiq Capital, buying up apartment buildings throughout major US cities (Source: WSJ). The timing of these investments demonstrates where the smart money is headed to prepare for our next economic cycle, and that is multifamily real estate.