Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
JT Capital Canters Away with $71M Multifamily in Central Florida’s Horse Country
JLL has closed the $70.6 million sale and arranged the debt and equity financing totaling $65 million for Grand Reserve Apartment Homes, a 263-unit, two-story, value-add multi-housing community in Ocala, FL.
Ken Delvillar of JLL represented the seller, ApexOne Investment Partners. Melissa Marcolini Quinn and Lee Weaver also of JRR secured debt financing with a life insurance company and arranged the institutional equity for the acquisition on behalf of the buyer, JT Capital.
The 2003-constructed 19-building Grand Reserve Apartment Homes features one-, two- and three-bedroom units with an average size of 1,072 square feet. Community amenities include a pool and sundeck, screened poolside gazebo with a TV lounge, a fire pit, 24-hour fitness center, business center, children’s playground and direct access garages.
The property is less than four miles from Historic Downtown Ocala, which includes multiple boutiques, sidewalk cafes and restaurants, the Downtown Farmer’s Market and a vibrant art scene.
- ◦Sale/Acquisition
- ◦Financing
