Tampa based Blue Rock Partners has acquired a three-property, 1,040-unit multi-family portfolio in Jacksonville for $68.4 million. The garden style communities were developed between 1971 and 1985. The seller, Equus Capital Partners, was represented by Brian Moulder and Dhaval Patel of CBRE. At the time of the sale all three properties were over 95% percent leased.
“This portfolio offered investors an opportunity to acquire a meaningful footprint in the city of Jacksonville,” commented Greg Curci, Vice President of Equus who was responsible for overseeing the disposition for the firm. “Jacksonville’s ongoing employment and rent growth resulted in strong investor interest and competitive pricing for these well-located assets.”
