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.

Similar Stories:

WinnCompanies picks up affordable housing asset in Peabody, MA
The Tannery, a 284-unit affordable housing community in Peabody, Mass. has been sold to Wi  »
Sam Zell named senior VP at CBRE in Philly
CBRE has hired Sam Zell as a senior vice president for the firm's Philadelphia office  »
Walker & Dunlop names Sean Williams Senior VP
Sean Williams has joined Walker & Dunlop as Senior Vice President and Managing Directo  »
Grunow Group secures $74.5m for Residence Club at Ocean Reef
The Grunow Group secured a $74.5m construction loan for the Residence Club at Ocean Reef,  »
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   »