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Florida & Gulf Coast  + Apartments  |  March 16, 2020
David Cohen
By: David Cohen

CBRE Brokers Sale of 156-Unit Jacksonville MF Property

CBRE has arranged the sale of Ocean Blue Apartments, a 156-unit multifamily property on Jacksonville’s Atlantic Beach. The sales price was not disclosed. Cliff Taylor and Joe Ayers of CBRE represented the seller, Indiana-based Becovic Management Group, in the transaction. The buyer was an affiliate of EBSCO Income Properties.

Located at 2701 Mayport Rd., the gated community was built in 2018 and is nearby the Beaches Town Center in Atlantic Beach.

“We are witnessing a sharp increase in the demand for high-quality multifamily units within our Northeast Florida beaches submarket,” said Ayers. “The seller delivered a beautiful product in Ocean Blue that set a new bar for luxury apartments on Jacksonville’s coast. With extremely high barriers to entry and a very limited supply pipeline at the beach, Ocean Blue is well-positioned to continue to perform at a high level.”

For comments, questions or concerns, please contact David Cohen

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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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