Hines Sells Florida Property

The property is located in Jacksonville’s Southside neighborhood. Image courtesy of Hines

Carter-Haston Holdings has acquired Avere Southside Quarter, a luxury apartment building in Jacksonville, Fla., from Hines.

Located at 7507 Park Village Drive, the community is located within Hines’ signature Southside Quarter mixed-use development. The 322-unit multifamily property, which was completed in 2022, is more than 90 percent leased.

Avere Southside Quarter features five four-story buildings situated on a 10.6-acre parcel. The unit mix offers one-, two- and three-bedroom apartment homes with above-standard ceiling heights, high-speed Internet access, in-unit washer and dryers and private balconies and patios. Amenities include a pool with private cabanas.

Job center

Located in Jacksonville’s popular Southside neighborhood, the greater Southside Quarter complex is a 110-acre mixed-use master-planned development situated at the intersection of Interstate 295 and J.T. Butler Blvd. Upon its completion, the Southside Quarter will deliver 200,000 square feet of office space. Also included will be an 85-bed hospital, an urgent care imaging facility and a 120-room hotel, as well as approximately 30,000 square feet of retail space.

The master-planned development’s residential component features 135 single-family homes and townhomes, as well as 628 for-rent multifamily units.

Jacksonville is an emerging job center in the technology, health care, logistics and financial services industries. The city experienced 14.5 percent job growth in 2022 alone. Avere Southside Quarter is located proximate to more than 70,000 jobs.

Employers like the Mayo Clinic, St. Vincent’s Medical Center, St. Johns Town Center and the University of North Florida are a short drive away. Major employers include Bank of America, Fidelity Investments, IBM, Deutsche Bank, Florida Blue and Johnson & Johnson, among a number of others. Walker & Dunlop’s Brian Moulder and Dhaval Patel, both managing directors at the firm, arranged the sale.

Two months ago, ARK commenced leasing at a 79-unit build-to-rent community in Jacksonville.