West Springfield, Massachusetts-based Aspen Square Management has picked up an apartment complex on Jacksonville’s south side for $37 million. Located at 1700 South San Pablo Rd, the 336-unit Banyan Bay Apartments traded for $110,119 per unit. The seller, California-based Fairfield Residential, bought the property in 2006 for $28.3 million. Brian Moulder and Dhaval Patel, both executive vice presidents for commercial real estate firm CBRE Inc., brokered the deal.
