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Florida & Gulf Coast  + Jacksonville + North Florida  + Apartments  |  May 13, 2022
TASS Investments has paid $8.5 million for the two-property Tree Hill Multifamily Portfolio in Jacksonville, FL for $8.5 million.
Lisa McDuffie
By: Lisa McDuffie

Fincapital Investments Pays $9M for Two-Multifamily Portfolio in Jacksonville

NAI Hallmark has completed the sale of the two-property Tree Hill Multifamily Portfolio in Jacksonville for $8.5 million.

Over $2.4 million in capital improvements had been spent on the properties, including an average interior renovation cost of $15K per unit.

Luke McCann and John Rutherford of NAI Hallmark brokered the transaction on behalf of seller TASS Investments and buyer Fincapital Investments.

“This portfolio has an outstanding location within the Arlington submarket, and the townhome-style units offer a unique product to renters in the area,” said McCann. New ownership plans on continuing the improvements to meet the demand of new residents in a submarket that has seen tremendous rent growth as of late.”

 The multifamily assets were built from 1968-1981 and consist of a total of 78 multifamily units in a combination of one- and two- bedroom apartments and townhomes on 3.16 acres over two locations.

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NAI Hallmark

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.
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