Arch Companies has acquired Camelot Gardens, a 692-unit apartment complex in Jacksonville, Florida, for $40m. Built in two phases between 1969 and 1971, the value-add property is located in the city’s Hyde Park neighborhood. The scheme includes 56 two-story buildings ranging in size between 576 to 1,332 sq ft. Common amenities include a playground, fitness center, five swimming pools and 1,500 parking spaces. Knight Frank assisted the seller, Ty G. Lohman, in the deal, which was completed with a $42m bridge loan provided by Walker & Dunlop. The sale marks Arch’s second Jacksonville acquisition in the last two weeks, following the purchase of Midtown Oaks for $14.1m.
