Jacksonville Community Changes Hands
The community is being rebranded under the new owner's luxury product line.
Safe Harbor Investments has acquired The Preserve, a 192-unit luxury multifamily community in Jacksonville, Fla. The company purchased the asset from the former owner, Becovic Management Group in a transaction brokered by JLL. The acquisition price was not disclosed.
JLL’s Managing Directors Cliff Taylor and Joe Ayers, Director Ryan Hixon and Associates Mike Scott and Tucker Brooks made up the Sales and Advisory team that represented the seller.
According to Safe Harbor’s LinkedIn page, the new owner will be rebranding the community to operate under its luxury brand, The Howell. Moving forward, the community will operate as The Howell at the Preserve. As of July 2025, the property is approximately 93 percent leased, Yardi Matrix data shows.
Opened in 2024, the Class A community’s amenities include a swimming pool, a 24-hour fitness center, resident lounge, co-working space and pet spa. Apartments range from one to three bedrooms, with average asking rents of $1,675 per month, according to Yardi Matrix data.
Individual apartments feature in-unit laundry and open concept layouts. Large windows bring in natural light, and the units also have wood-style flooring as well as stainless steel, energy-efficient appliances. Some apartments are fit with screened-in patios or open-air balconies.
The community’s location at 708 Island Point provides views of the Trout River and is close to the St. Johns River. The Jacksonville Zoo and Botanical Gardens are under two miles from The Howell, which also has access to Downtown Jacksonville’s dining and retail options.
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Jacksonville deliveries slow down
According to the latest report on the metro from Cushman & Wakefield, the market is showing a considerable slowdown from 2024. As of the second quarter, the data shows that 10 buildings have come online with over 2,000 units, with an additional 2,700 units still under construction. Both are showing a 50 to 60 percent decrease from 2024.
Most recently, Ceiba Group obtained a $40.2 million construction loan for a new build-to-rent community, Royal Palms Main Street. The property will feature multifamily apartments and townhomes, bringing 227 new units to the market when it comes online in 2027.
Madison Communities opened Madison Fountains, a 276-unit Jacksonville-area community in May of this year. The company continues to expand its portfolio across the Sun Belt. The company made its first BTR purchase earlier this month in Gainesville, Fla.
