In December 2019, ESJ acquired 6.5 acres of entitled land and developed a brand-new 40,000 SF private school facility for Central Florida Preparatory Academy - a K-12 institution founded in 1990.
The campus was delivered in July 2020 at a total project cost of $12.2M, coming in $40,000 under budget. The school quickly grew its enrollment from 220 to 463 students, reaching 103% of capacity by the 2023/2024 school year.
ESJ sold the property back to the tenant on July 9, 2024, for $17.4M, representing a 7.2% cap rate on in-place rent - financed by the tenant through municipal bond funding.
19950 West Country Club Drive
Suite 800
Aventura, FL 33180
USA
2A Rue Ermesinde,
L-8416 Steinfort
GD of Luxembourg
19950 West Country Club Drive
Suite 800
Aventura, FL 33180
USA
2A Rue Ermesinde,
L-8416 Steinfort
GD of Luxembourg