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.

Similar Stories:

Olney named CEO at Berkshire Residential Investments
Berkshire Residential Investments has promoted David Olney to Chief Executive Office. Olne  »
SouthStar wins refinacing for Florida apartment complex
SouthStar Properties has secured a $53 million refinance of Vista at Lost Lake, an apartme  »
Liberty Towers changes hands for $409m
Mack-Cali Realty Corporation has completed the first transaction in a $820m 1031 exchange.  »
Nathan Holdings acquires City Ridge Apartments in Jacksonville
Nathan Holdings has acquired City Ridge Apartments in Jacksonville, Florida, for $24.7m. T  »
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   »