Cushman & Wakefield Arranges North Carolina Sale
Director Paul Marley brokered the transaction of a 196-unit community located in Jacksonville.
Cushman & Wakefield has arranged the sale of Brynn Marr Apartments, a 196-unit community in Jacksonville, N.C. The firm’s Director Paul Marley worked on behalf of the seller, Origin Development Partners, while the buyer, Monument Capital Management, was self-represented in the deal. The acquisition is part of the buyer’s latest fund, Monument Opportunity Fund IV.
Located at 301 Village Drive, Brynn Marr Apartments is near Freeway 24, approximately 4 miles from downtown Jacksonville. The community is within a 10-minute walk of restaurants and shopping options on Lejeune Boulevard. Additionally, the area provides convenient access to self storage facilities, including Iron Guard on Center Street and Bell Fork Storage on Bell Fork Road.
Developed in 1975, the property encompasses one-, two- and three-bedroom units featuring hardwood floors, washer and dryer hookups, air conditioners, dishwashers and balconies. Property amenities include a swimming pool, picnic area with grilling station, on-site maintenance, clubhouse, 24-hour fitness center and playground. The buyer plans to upgrade both the interior and the exterior of the property. New upgrades will include a business center and an expanded fitness center.
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