Florida & Gulf Coast + North Florida + Apartments | January 11, 2023

Fincapital Investments has acquired Magnolia Point Apartments in Jacksonville, FL for $37.7 million.

Fincapital Investments Acquires $38M Jacksonville Multifamily from Simplicity Capital

Fincapital Investments has acquired Magnolia Point Apartments, a 227-unit multifamily property located at 7507 Beach Boulevard in the Southside submarket of Jacksonville, FL, for $37.7 million.

John Rutherford and Luke McCann of NAI Hallmark brokered the transaction and represented both Fincapital Investments and the seller, real estate investment, acquisition and management firm Simplicity Capital.

“The sale represents continued demand for value-add opportunities in Jacksonville due to its strong market fundamentals.” said Rutherford.

Situated on 15.36 acres, the multifamily asset was built on 15.36 acres in 1973 and consists of 30 two-story buildings. Amenities include pool, playground, sports court and on-site clothes care facility.

NAI Hallmark is a full-service commercial real estate company specializing in sales and leasing brokerage, property and facilities management, and corporate services in Northeast FL.

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NAI Hallmark's Rutherford

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.