Avesta Communities sells off Jacksonville flats for $13.3m

Avesta Communities sells off Jacksonville flats for $13.3m

Published at: 2019-07-09 16:31 | Author: CIJ USA
Avesta Communities has closed on the $13.3 million sale of a partially affordable apartment complex in Jacksonville, Florida. An unnamed buyer paid just under $82,100 per unit for the 162-unit complex called Baymeadows Apartments. Located on Old Baymeadows Road, the asset includes 114 affordable units, with common amenities including a swimming pool, playground business center and dog park and parking for more than 200 vehicles. The deal was completed with Berkadia arranging a 10 year, $10.7 million Freddie Mac loan on behalf of the purchaser. The property last changed hands in 2012, when the NHP Foundation traded it for $3.9 million.

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