
NAI Hallmark Brokers $7.5M Sale of Jacksonville Multifamily
NAI Hallmark has announced the sale of The Park at River City for $7.5 million. The 104-unit multifamily property is located at 10621 Monaco Drive, Jacksonville, FL. Senior Vice President John Rutherford and Vice President Luke McCann brokered the transaction on behalf of seller Toro Real Estate Partners and buyer Park at River City LLC, the Buyer.
“NAI Hallmark is pleased to have represented the Seller and Buyer in the sale of The Park at River City,” said Rutherford. “This transaction is yet another example of Jacksonville’s resiliency in the current climate, and further illustrates the significant upside potential remaining in the multifamily market compared to other major markets throughout the country,” said Rutherford.
The property was built in 1967 and consists of 104 units ranging in size from one to two- bedrooms in 13 two-story buildings on 5.59 acres minutes from Jacksonville International Airport.