Laramar Group Snags 616-Unit Apartment Community in Jacksonville

National real estate investment and property management firm The Laramar Group has acquired the Creekfront at Deerwood, a 616-unit apartment community in Jacksonville. The sales price was not disclosed.

Built in 1986, the community consists of 108 residential buildings totaling 644,076 square feet. Amenities include five swimming pools, a 3,500-square-foot fitness center, a theatre room and a community center. Laramar purchased the property as a value-add opportunity and has begun a strategic rebranding and renovation program at the property. The community is located at 9803 Creekfront Rd.

“Jacksonville is an attractive multifamily market due to its strong demographics, diverse workforce, and growing concentration of employers in the financial, healthcare, manufacturing and logistics sectors,” said Matthew Kreikemeier, director of acquisitions at Laramar. “This property was an ideal acquisition for Laramar, given its strong location and rental history, wide array of amenities, and the potential for future growth.”

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