Monday, July 28, 2008

CB Richard Ellis Named Exclusive Sales Agent for 432-Unit Apartment Community in Jacksonville, FL


JACKSONVILLE, FL - CB Richard Ellis, the world's leading commercial real estate services provider, has been named the exclusive sales agent for Silver Springs Apartments (top right photo) located at 3737 St. John's Bluff Road in Jacksonville, Fla.
The 432-unit community encompasses 361,372 sq. ft and is situated on approximately 21.1 acres.

Dan Allen, Vice Chairman, Dhaval Patel, financial analyst, Grant Momberg, sales assistant and Trip Gillander, sales assistant, have been retained to exclusively represent the owner of the residential community, Equity Residential.

"Silver Springs is within minutes of Jacksonville's job-generating Butler-Baymeadows Corridor, which contains more than 15 million sq. ft. of office space and 50,000-plus jobs providing a deep pool of residents," said Allen. "By making interior capital improvements and possibly converting some buildings to student housing, we estimate rents could improve by $150 per unit, providing an excellent income opportunity for investors."

Built in 1985, •Silver Springs Apartments is positioned between St. Johns Bluff Road and Highway 9-A, approximately six miles southeast of downtown Jacksonville within the city's booming Butler-Baymeadows Corridor.
For more information about this investment opportunity, please visit: http://cbremarketing.com/silversprings

MEDIA CONTACT:
Rebecca Thomas
305.381.6485

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