Beachwold Residential Lands $51M Jacksonville Refi
The owner purchased the property in 2021.
Beachwold Residential has secured a $50.5 million refinancing loan for Gran Bay Apartments, a 308-unit garden-style community in Jacksonville, Fla. Mesa West Capital provided the first mortgage loan in a deal arranged by Walker & Dunlop. The financing consists of a five-year non-recourse loan.
According to Yardi Matrix, Beachwold Residential acquired the property from RAS Real Estate Partners in 2021 for $77.5 million, with a $56.8 million loan from Sound Point Capital Management.
Gran Bay came online in 2015 at 13444 Gran Bay Parkway. As of March, the property was 92 percent occupied, Yardi Matrix shows. The asset has access to Interstate 95 and Route 9B. Mickler’s Landing Beach is 13 miles away, while downtown Jacksonville is 18 miles north.
The community spans 14 buildings on 15.5 acres. The community includes one- to three-bedroom apartments with walk-in closets, in-unit laundry and stainless-steel appliances. Shared amenities at Gran Bay include a swimming pool, a fitness center, a business center, a dog park, fire pits and a children’s play area.
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Taylor Williams, managing director at Walker & Dunlop, arranged the financing. Mesa West Capital’s Russell Frahm, head of the Eastern region and Associate Brad McCarthy led the transaction for the lender.
Jacksonville construction slows
Multifamily deliveries in the larger Jacksonville metro cooled off in the latter half of 2025, according to a Cushman & Wakefield report. The data shows that five properties were brought online in the second half of the year with 1,600 units, a 60.9 percent decrease from delivery volumes in the second half of 2024. Units under construction totaled 3,800, representing a 25.8 percent year-over-year decrease.
Earlier this year, Shanna Collective and Iguana Investments received $360 million in construction financing for 26 luxury condos that will be part of a downtown Jacksonville, Fla. waterfront project that’s slated for delivery next year.
Most recently in the metro, American Landmark Apartments purchased Courtney Meadows from Blackstone’s LivCor. The 276-unit acquisition was part of a two-property purchase which included Tramore Village in Austell, Ga.
