Clarion Partners Lands $45M Refi for Jacksonville Community

The 488-unit The Enclave is some 9 miles from the University of North Florida and 13 miles from the city's downtown.
The Enclave

Clarion Partners has received $45 million in refinancing from First Abu Dhabi Bank for The Enclave in Jacksonville, Fla., according to public records. Yardi Matrix data shows the 488-unit property was subject to a $30 million CMBS loan secured in 2010 that is set to mature in August. The owner purchased the asset in 2004 from Bomasada Group.

Located at 13300 Atlantic Blvd., the community is close to big-box retailers such as Walmart and Publix, some 4 miles from several beaches and roughly 13 miles from downtown Jacksonville. Additionally, the asset is some 9 miles from the University of North Florida and 23 miles from Jacksonville International Airport.

Completed in 2002, the property comprises one-, two- and three-bedroom apartments in 21 three-story buildings spread across some 54 acres. Common-area amenities include a pool, clubhouse, game room, fitness center and car care facility. 

Last year, Clarion Partners acquired West Port Colony in St. Petersburg, Fla. The company purchased the 324-unit property for $54.5 million, or $168,360 per unit.