Preston Giuliano Capital Partners has closed on the disposition of two adjacent multi-housing communities in Jupiter for a combined $56 million. The new owner, Northland Investment Corporation, will merge the two asset, Mallards Cove and Shell Trace, into one property and name it Jupiter Isle. The 359 total units are located at 6705 Mallards Cove southeast of the Interstate 95/State Highway 706 interchange. Holliday Fenoglio Fowler marketed the asset on behalf of the seller and procured the buyer who purchased the community free and clear of existing debt. “Jupiter Isle is a classic value play and one of those properties that will always be in high demand,” said Matt Mitchell, managing director HFF. “It offers residents the combination of a fantastic location and better affordability compared to newer communities in Jupiter.”
