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JPI |
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While the purchase price is appreciably higher than similar recent apartment sales in that submarket, Pat Riley, who handles West Coast student housing acquisitions for JPI Student Housing, said when considered on a per-bed rental basis, the property offers significant revenue growth potential. Completed in 2002 by JPI, the community features a spectacular 5,600 s/f clubhouse and amenities that include a fully equipped fitness center and outdoor heated swimming pool and Jacuzzi. It picked up JPI last summer, and though its annual sales in the $10 million range make it a very small part of Jakks' overall business, McGowan said it could provide much-needed growth as the toy industry struggles to grow its annual revenue. |
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