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Small Multifamily Trades Hot in Jacksonville

MIAMI—One of the multifamily deals was as short sale where the property was only 50% occupied.

By Jennifer LeClaire | Updated on May 10, 2013

MIAMI, FL—Smaller multifamily owners are seeing some investor action in Jacksonville. Marcus & Millichap just closed back-to-back multifamily deals in the north Florida city.

The Columns, a 244-unit multifamily complex, sold for $7.55 million. Royal Estates, a 176-unit multifamily property, sold for $3.5 million. The Columns is located at 333 Laurina Street near Interstate 10 and Interstate 95. Royal Estates is located less than 10 minutes from Downtown Jacksonville in the Arlington submarket just west of the Regency Square Mall.

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