Sureste Property Group Picks a Pair of Orange Park Multifamilies for $22M
Atlanta, GA-based Sureste Property Group has acquired two multifamily properties totaling 134 units in the Jacksonville submarket of Orange Park, FL for $22.3 million.
Cliff Taylor, Joe Ayers and Ryan Hixon with CBRE represented the seller, Grand Haven, MI-based Greyson Capital Group, in the transaction.
Built in 1971, Kings Tree Apartments is a nine-building, 64-unit property with one-, two-, and three-bedroom units averaging 945 square feet. It is located at 1800 Kingsley Avenue directly across the street from Orange Park Medical Center.
Built in 1973, Park Place Apartments is a five-building, 70-unit property with one- and two-bedroom units averaging 857 square feet. It is located at 401 Loring Avenue.
The seller completed several capital improvements, including work to the roofs, exterior painting, and upgrades to the unit interiors.
Photo: Park Place
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