Jacksonville
Top 10 Florida Multifamily Completions in 2018
Almost 33,000 units were added to Florida’s multifamily markets last year, 1,300 more than the year before, with major developments completed in each of the state’s key metro areas.
North FL Community Changes Hands
The 96-unit multifamily asset, completed in 1963, traded for $6 million, more than doubling the seller’s return in two years.
Jacksonville Development Gets $39M Construction Financing
Crest Residential’s 256-unit project is estimated to break ground in the spring, financed by a five-year loan from Protective Life Insurance Co.
Newly Built Jacksonville Community Trades for $54M
Hunt Real Estate Capital provided the buyer, EBSCO Income Properties, with more than $36 million in Fannie Mae acquisition financing.
Jacksonville Community Gets $30M Refi
HFF originated the 10-year Freddie Mac mortgage for Beachwold Residential, the owner of the 288-unit luxury community. The loan retires a prior CMBS loan.
Carter Multifamily Increases Jacksonville Footprint
The new owner paid more than $23 million for the 262-unit Class B community and plans to invest in capital improvements to reposition the property.
National Property REIT Trades Jacksonville Community
Laguna Point Properties acquired the 204-unit Class B multifamily asset for nearly $25 million, financed with a $17.4 million acquisition loan.
Praedium Group Expands Jacksonville Footprint
The firm has almost doubled its profile in the city with the nearly $47 million acquisition of the 246-unit luxury community.
Fogelman Increases Jacksonville Footprint
Gamma Real Estate sold the 268-unit Class A community for more than $40 million, with Greystone providing acquisition financing to the buyer.
Quad Property Group Sells Jacksonville Community
A joint venture between Hyperion Endeavors and Think Multifamily purchased the 113-unit property for more than $7 million, with Arbor Realty Trust providing acquisition financing.