Florida & Gulf Coast + North Florida + Apartments | June 16, 2021

CBRE Brokers $49M Sale of Jacksonville MF Portfolio

CBRE has arranged the $49 million sale of a 422-unit multifamily portfolio in Jacksonville. Cliff Taylor and Joe Ayers of CBRE represented the seller, Carter Funds, in the transaction. The buyer was Tampa-based Kimball Key LLC.

The portfolio consists of The Oaks on Monument and Laurel Pointe Apartments. The Oaks on Monument was originally constructed in 1975 and is located at 401 Monument Road. Laurel Pointe Apartments was built in 1970 and is located at 3000 Coronet Lane.

“The purchase of these two assets represents a unique opportunity for the buyer to add over 400 value-add units to its portfolio in one of the nation’s best performing multifamily markets. Jacksonville’s resilience throughout the pandemic has been heralded throughout the country and the investment world has taken note,” said Taylor.

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CBRE’s Taylor

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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