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JBM Closes on Three W FL Existing Multifams Plus Acreage for $119M
JBM Institutional Multifamily Advisors has completed $119 million worth of closings on four separate west Florida properties.
Circa at Fishhawk Ranch, a 260-unit Class-A asset in Lithia, was acquired by GMF Capital from Inland Real Estate Group for $66.2 million. According to JBM, at closing the price was the highest per-unit paid for a 2015 garden-style apartment community in west, central, or north Florida.
The 166-unit Bradenton Reserve in Bradenton was acquired by Equity Yield, LLC from Merion Residential for $30.2M. At closing the price was the highest per-unit paid for an ’80s vintage property throughout Southwest Florida.
Naples-located Gordon River community features 95 units and unobstructed water views. Corridor Ventures acquired the property from Axonic Properties for $17.5 million.
A 14-acre land parcel located in a Qualified Opportunity Zone along Causeway Boulevard in Tampa changed hands from Zark, LLC, to ZOM Holding, Inc., for $5.2 million. Planned development allows for construction of up to 460 units.
- ◦Sale/Acquisition
- ◦Development
