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Florida & Gulf Coast  + Central Florida  + Apartments  | 
Circa at Fishhawk Ranch in Lithia, FL

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.

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JBM Institutional Multifamily Advisors

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 he makes the transition from an utterly failed racehorse to a lovely show hunter.

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