Jacksonville apartment complex sells for $35.2m

Jacksonville apartment complex sells for $35.2m

Published at: 2019-06-25 16:52 | Author: CIJ USA
The Mission Springs apartment complex in Jacksonville has been sold for $35.2 million. The 444 multifamily asset was acquired by a joint venture between Lynd Opportunity Partners and Topaz Capital. Located at 5327 Timuquana Road, the sale was subject to a $32.7 million acquisition loan held by Arbor Realty Trust. Built in 1972, the asset encompasses 32 buildings. Invest in America’s Veterans Foundation sold the asset in an off-market transaction. The new owners intend to rebrand the property as Topaz Villas JAX and invest more than $5 million in property upgrades.

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