Measured Capital Buys Jacksonville Community

Measured Capital has acquired Hidden Oaks Apartments, a 64-unit multifamily community in Jacksonville, Fla., from Key Haven Partners. According to Jacksonville Business Journal, the asset traded for $6 million. NAI Hallmark Vice President Luke McCann and Senior Vice President John Rutherford brokered the transaction.

Built in two phases and completed in 1991, the property comprises six two-story buildings across some 5 acres. Floorplans include two-bedroom units. Common-area amenities feature onsite laundry facilities, as well as picnic and grilling areas.

Located at 10825 Key Haven Blvd., the community is roughly 1 mile from Interstate 295 and 8 miles southwest of the Jacksonville International Airport, as well as some 10 miles northeast of downtown Jacksonville. Lake Bethesda Park is within walking distance, while Jacksonville Regional Shopping Center is less than 2 miles away. Employers such as Baptist Health and Amazon are less than 5 miles away.

Measured Capital has entered the Florida market with this Jacksonville buy, Jacksonville Business Journal reported. The River City has seen a sharp decrease in multifamily sales during 2023, Yardi Matrix data shows. Only 18 properties with more than 50 units changed hands last year, while 2022’s recorded sales totaled 58.

In one of this year’s transactions, Hines sold Avere Southside Quarter, a 322-unit luxury community in Jacksonville’s Southside neighborhood. Carter-Haston Holdings acquired the 2022-completed asset.