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Florida & Gulf Coast  + Jacksonville + North Florida  + Apartments  |  February 13, 2023
Koda Capital has acquired River City Landing Apartments located across from Jacksonville University in Jacksonville, FL, for $30.9 million.
Lisa McDuffie
By: Lisa McDuffie

Koda Capital Acquires Jacksonville Multifamily for $31M

Hollywood, FL-based real estate investment firm Koda Capital has acquired River City Landing Apartments, a 320-unit multifamily located directly across from Jacksonville University in Jacksonville, FL, for $30.9 million.

John Rutherford, Luke McCann and Andrew Tyrrell of NAI Hallmark brokered the transaction on behalf of both the Koda Capital and seller Toro Real Estate Partners, a Jerico, NY-based real estate investment firm.

“The sale represents an outstanding opportunity for a value-add renovation within the gentrifying Arlington submarket of Jacksonville,” said Rutherford. “The demand for value-add opportunities such as this one continues in Jacksonville due to the market’s consistent and strong fundamentals.”

The 1968-constructed property is situated on 23.81 acres and consists of one-, two- and three-bedroom units in nine two-story buildings. Amenities include two pools, playground, sports court, pet park, BBQ pavilions, five clothes-care centers and a two-story clubhouse, all overlooking a four-acre lake.

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Inside The Story

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.
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