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Odessa Realty Acquires Jacksonville Apartment Community for $16M
Odessa Realty Investments has acquired Pinebrook Apartments, a 208-unit multifamily property in Jacksonville for $16 million. Joe Ayers and Cliff Taylor of CBRE represented the seller, GMC Investments, in the transaction.
Located at 7500 Powers Ave., the property was built in 1974 and consists of fully-renovated one-, two- and three-bedroom units. Additional features include white cabinetry, energy efficient kitchens, modern lighting fixtures and open floorplans.
“Pinebrook Apartments represented an incredible value-add opportunity on Jacksonville’s south side,” said CBRE’s Taylor. “With the strong retail pocket to the north, the proximity to the city’s major employment centers and the new International Baccalaureate program at nearby Wolfson High School, the property is poised to benefit from continued renovations.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
