Lenger Financial buys Avalon Hill in Jacksonville for $10.8m

Lenger Financial buys Avalon Hill in Jacksonville for $10.8m

Published at: 2018-09-19 16:45 | Author: CIJ USA
Lenger Financial bought Avalon Hill, a 194-unit apartment complex in Jacksonville, Florida, for $10.8m. Located in the Jacksonville Oakwood Villa submarket, the property changed hands for $55,670 per unit. The garden-style community’s 14 buildings are positioned on 12.4 acres next to the 50-acre Tree Hill Nature Center. Avalon Hill was 88 percent leased at the time of the sale. Common amenities include a swimming pool, a laundry facility, a clubhouse and a playground. The seller, Mody Real Estate Group, provided the buyer with a three-year, $7.9m acquisition loan. Mody purchased the property in April 2011, through a deed in lieu of foreclosure from the Housing Partnership of Northeast Florida.

Similar Stories:

Matthew Lobron joins Megalith as senior VP of development
Matthew Lobron was named senior vice president of development at Megalith Capital Manageme  »
Canopy Apartment Villas changes hands for $47.95m
An affiliate of Taurus Investment Holdings acquired Canopy Apartment Villas, a 296-unit va  »
Priderock Capital Partners buys two Florida resi properties for $98m
Priderock Capital Partners bought two class B multifamily communities in Florida from Fair  »
Sweetwater Cove in Tampa sells for $35.5m
Frankforter Group bought Sweetwater Cove, a 288-unit community in Tampa, Florida, for $35.  »
Hurricane Hermine had the entire state of Florida on the edge of its seat in September. It   »
South Florida’s condo market is readying for a soft landing rather than the crash that m   »
There are approximately 17,000 units in Miami in presale, sold or under construction. Abou   »
The same year Orange County builders pulled 11,000. Fast forward to 2010 and those numbers   »