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| Greg Rainey |
JACKSONVILLE, FL – Berkadia recently closed the sale of the
multifamily property, Viera at Mandarin,
for $17.6 million or $93,617 per-unit.
Associate Director Greg Rainey of Jacksonville, Managing
Director Cole Whitaker of Orlando,
Senior Director Tal Frydman of Boca
Raton, and Senior Director Jason Stanton
of the Tampa office facilitated the sale.
The seller was Woodbridge
Multifamily Partners, LLC based in Nashville, Tenn. and the buyer was Maxus
Realty Trust, Inc. located in North Kansas City, Mo.
“With the influx of recent
job announcements in northeast Florida, we are beginning to see more investors
target Jacksonville as an opportunity to gain a foothold in an emerging market.
"The buyer in this transaction saw an opportunity to grow their presence in
Jacksonville by investing in one of the more highly sought-after submarkets in
the city,” Rainey said
Built in 1984, the
188-apartment property features one- and two-bedroom units with four unique
floor plans. The average unit size is 833 square feet and each has updated
interiors with modern touches, such as granite counter tops, in-unit
washer/dryer, a private patio or balcony and ample storage space.
 |
| Tal Frydman |
Select units
also include an open floor plan with vaulted ceilings and wood-burning
fireplaces. Community amenities include an indoor athletic center, swimming
pool, a 21-acre lake with fountains and a deck and boat storage.
Viera at Mandarin is
located at 4263 Losco Rd., affording convenient access to Old St. Augustine Rd.
and Interstate 295. To the west, across the St. Johns River, is Naval Air
Station Jacksonville and downtown Jacksonville is less than 20 minutes
northwest.
For a complete copy of the company’s news release,
please contact:
Beth Payan, Larry Vershel
Communications 407-644-4142 lvershelco@aol.com
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