NAI Hallmark Brokers $9M Sale of Jacksonville Apartments
NAI Hallmark has arranged the $9.2 million sale of The Forest Apartments, a 113-unit multifamily property in the Westside submarket of Jacksonville. Located at 6756 103rd Street, the property is comprised of floorplans ranging from studios up to 3-bedrooms. The asset was built in 1966.
John Rutherford of NAI Hallmark brokered the transaction on behalf of the seller, Hyperion Endeavors, a private Dallas-based real-estate investment firm, in the transaction. The buyer was Westmount Square Capital, a private Los Angeles-based real-estate investment firm.
“The Forest Apartments was a full-cycle sale in less than 3 years showing that the demand for investor appetite in North Florida remains incredibly strong, especially for well-located, value-add opportunities. The new owners will benefit from a strong Westside Jacksonville submarket that continues to further its economic development as a logistics & distribution hub of the Southeast,” said Rutherford.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.