Investments

At JSB, we are unfettered by the rigid mandates that often constrain fund managers.  Instead, we make nuanced investment recommendations that seamlessly navigate between asset classes and asset types as market conditions evolve. Our investments are informed by demographic insights, motivated by risk-mitigation, and grounded in a measured “speed to income” investment philosophy.

MultiFamily

VIVA at 3700

Location

Lauderdale Lakes, FL

Units

420
Spark Millbury

Location

Millbury, MA

Units

112
Mark at Brickyard

Location

Beltsville, MD

Units

433
Premier at City Line

Location

Philadelphia, PA

Units

302
Avenue Grand

Location

Baltimore, MD

Units

324
Vanguard of Polaris

Location

Westerville, OH

Units

292
Exchange at the Beach

Location

Panama City Beach, FL

Units

232
Spark Bloomfield

Location

Bloomfield, CT

Units

246
Falls at Mills Creek

Location

Nashville, TN

Units

204
The Merchant

Location

Charleston, SC

Units

231
The Hamlet at Saratoga Springs

Location

Saratoga, NY

Units

145
Landmark South

Location

Doral, FL

Units

631
Redlands Lawn and Tennis Club

Location

Redlands, CA

Units

496
Grandview Summit

Location

Crestview Hills, KY

Units

216
Spark Pax River

Location

Lexington Park, MD

Units

328
Bristol Station

Location

Carteret, NJ

Units

288
Shelter Cove

Location

Cohoes, NY

Units

200
400 North

Location

Maitland, FL

Units

300
Middletown Landing

Location

Louisville, KY

Units

646
Trail Creek

Location

Hampton, VA

Units

300
Cordova Park

Location

Lancaster, CA

Units

416
  • Source assets that have been mismanaged or undermanaged, and for which there is proven mark-to-market and/or value-add revenue upside
  • Purchase properties at or below replacement cost and above prevailing cap rates to protect intrinsic value and preserve long-term competitiveness
  • Target newly-leased properties in undersupplied high-growth markets that can safely generate above-market stabilized return on cost
Properties

132

States

23

Apartment Units

47K+

Vacation and Single-Family Rentals

Harbor Island Beach Club Villas

Location

Melbourne Beach, FL
PS Model Home Portfolio

Location

Central Florida
Orlando Vacation Homes

Location

Orlando, FL
The Reserve at Hillview

Location

Maitland, FL
  • Build and operate best-in-class, purpose-built vacation home communities in leading tourist destinations that are primed to generate high cash yields and outsized capital appreciation
  • Leverage industry-best design, furnishing, marketing and customer engagement skills to offer the consistent brand quality coveted by vacationers and renters
  • Build attractive single-family rental communities catering to tenants unable or unwilling to purchase private homes given spiraling mortgage rates and carry costs
Vacation Residences Completed or In Process

2K

Destinations

8

Ground-up Development

The Station

Location

Chester, VA

Units

201
Villatel Orlando

Location

Orlando, FL

Number of Homes

526
V2 Apartments

Location

Fort Myers, FL

Units

308
Sunnyside Apartments

Location

Panama City Beach, FL

Units

220
Wildwood Apartments

Location

Wildwood, FL

Units

336
Cinema City

Location

Fort Lauderdale, FL

Sq. Footage

437K
Glenwood Meadows

Location

Glenwood Springs, CO

Units

300
  • Target assets that conservatively can be underwritten to a yield on cost significantly higher than prevailing cap rates, accommodating presumed expanded cap rates on a downstream basis
  • Focus on mitigating build costs and associated risks by negotiating bonded maximum price contracts with well-capitalized general contractors with careful attention to value engineering and robust contingency reserves
  • Opportunistically target ground-up projects reasonably cushioned against risks posed by supply, interest rates and other macroeconomic factors, including by building workforce multifamily communities, vacation rental communities, high-end retail, and production studios
Projects

14

Apartments/Homes Built or Under Construction

4.3K+

Commercial Square Feet

947K+

Industrial

600 West Ridge Road

Location

Linwood, PA

Sq. Footage

56K
FedEx

Location

Saxonburg, PA

Sq. Footage

220K
Tampa Airpark

Location

Tampa, FL

Sq. Footage

252K
Middleburg Heights Industrial

Location

Middleburg Heights, OH

Sq. Footage

126K
Pennsauken

Location

Philadelphia, PA

Sq. Footage

77K
Amazon

Location

St. Peters, MO

Sq. Footage

143K
Lowe’s

Location

New Caney, TX

Sq. Footage

1.5M
K-Flex

Location

Youngsville, NC

Sq. Footage

364K
Royal Metals

Location

Temple, GA

Sq. Footage

261K
  • Strategy includes aggregating “last mile” industrial assets at pricing well below replacement cost, and leveraging operator relationships to reposition undermanaged properties
  • Acquire newly-built, typically mission-critical assets with long-term credit tenants, utilizing capital market relationships to generate favorable, low-risk cash flow with upside appreciation potential
  • Prioritize properties proximate to key roadways and transportation nodes that offer access to population centers in supply-constrained markets
Properties

14

States

8

Square Feet

6.9MM+

Retail

Restoration Hardware

Location

Atlanta, GA

Sq. Footage

64K
Worth Avenue Portfolio

Location

Palm Beach, FL

Sq. Footage

45K
5th Avenue South Redevelopment

Location

Naples, FL

Units

52

Sq. Footage

510K
Valley Centre

Location

Owing Mills, MD

Sq. Footage

219K
  • Target the acquisition and development of iconic retail assets in high-street locations that offer enhanced prospects for robust commercial performance
  • Prioritize high-end retailers with merchandizing strategies that can generate sales growth across all market cycles due to more elastic consumer demand
  • Secondarily, acquire neighborhood centers in supply-constrained markets with grocery anchors and other tenants less susceptible to online competition
Properties

6

States

4

Square Feet

938K+

Hospitality

Amangani

Location

Jackson Hole, WY
Villatel Village

Location

Davenport, FL (Orlando MSA)
Casteel Creek

Location

Edwards, CO (Vail MSA)
Harbor Island Beach Club Condominiums

Location

Melbourne Beach, FL
  • Acquisition, development and management of hospitality properties characterized by differentiated build quality and consistent service levels
  • Target assets where revenue and asset value can be enhanced through technology and marketing
  • Focus on assets in year-round markets that are supply-constrained in respect of high-end and extended stay accommodations.
Properties

9

States

7

Keys

875

Agricultural

Bennett Organic Farms

Location

Arvin, CA

Acres

462
Fresh Berries Operating Company Portfolio

Location

Central Coast, CA

Acres

1,600
Seville Citrus Orchards

Location

Visalia, CA

Acres

200
Citrus Orchards

Location

Central Valley, CA

Acres

170
  • Target premium farmland growing fresh produce with a history of consistent yield generation coupled with the ability to generate capital appreciation through value-add, institutional farming techniques
  • Focus on food commodities in leading production regions for which there is growing consumer demand, proven growth trajectories and quality-based protection against low-priced imports
  • Achieve superior risk-adjusted returns uncorrelated to other asset classes by prioritizing farms with enhanced upside from access to redundant sources of water, and the speedy implementation of professional farm management and operational prowess
Investments

4

Acreage

2.4K+

Crops

12

Office

1111 Pennsylvania Avenue

Location

Washington, DC

Sq. Footage

337K
1 Portsoken Street

Location

London, UK

Sq. Footage

193K
Fedex Office Headquarters at Legacy West

Location

Plano, TX

Sq. Footage

264K
Pioneer Resources

Location

Irving, TX

Sq. Footage

1.1M
Broadcom

Location

Irvine, CA

Sq. Footage

661K
AmerisourceBergen

Location

Philadelphia, PA

Sq. Footage

429K
  • Primarily target defensive investments in long-term NNN-leased, mission-critical office assets that benefit from tenant longevity and predictable revenue streams
  • Focus on assets that offer strong current cash flow, downstream mark-to-market rental upside and relatively secure long-term competitive positions
  • Prioritize assets with long-term leases, credit tenants, and stable occupancy
Properties

12

Square Feet

5MM+

States

9