San Francisco-based Bridge Partners has picked up the Avenue Royale apartment complex on the south side of Jacksonville for $25.5 million. Located next to The Avenues mall at 7635 Timberlin Park Blvd, the 200 unit townhome style community traded for $127,500 per key. CBRE Executive Vice President Brian Moulder represented the seller, Connecticut based Corner Stone Real Estate Advisors, during the transaction. Moulder says that along with an uptick in transactions at the end of 2015, a good deal of development activity is looking likely in the coming year.
