In addition to continuing to pursue ground-up development opportunities as has always been core to JDA’s strategy, JDA’s Multifamily Division is now actively seeking attractive opportunities to acquire communities in lease-up and those still under development to add to its existing portfolio.
“OTO has had great success in recent years pursuing an acquisition strategy, and we think there is opportunity in the multifamily sector for a similar strategy to prove effective for the JDA team,” says Geordy Johnson, CEO of Johnson Development.
Recently, Jared Wilson, the Carolinas Regional Director of JDA’s Multifamily Division, caught wind of a possible acquisition opportunity for a waterfront property in the South Carolina Lowcountry. The catch was that offers were due that very day. Jared, sensing that the property would fit within JDA’s acquisition criteria, cleared his calendar and spent the day underwriting the deal, discussing internally, and drafting an LOI to meet the offer deadline. Jared’s initiative and entrepreneurial approach resulted in JDA being awarded its first multifamily acquisition.
Although due diligence is ongoing, this is an exciting step forward for a new area of JDA’s business.
