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Partnership Lands 1974-Vintage Jacksonville Multifamily for $13M
A partnership between Navarino Capital Management and Mayfair Investment Partners has completed its $13-million purchase of Stonemont Village, an 89-unit multifamily in the Jacksonville, FL submarket of San Marco.
Luke McCann and John Rutherford of NAI Hallmark brokered the transaction on behalf of seller Huber Equity Group and the buyers.
“The property is in a premier location with tremendous upside as the immediate area continues to be a top destination for renters and investors alike,” said McCann. “The new construction projects along US 1 to the north, to the intersection redevelopment at US 1 and Emerson Street to the south will further enhance the property and bring continued value to the neighborhood.”
The 1974-constructed asset is comprised one- and two-bedroom units on a 5.17-acre site. The property is minutes from the San Marco Square and the recently opened East San Marco retail center, and within proximity of Downtown Jacksonville and I-95.
- ◦Sale/Acquisition
