JACKSONVILLE, FL., – July 20th, 2022 – NAI Hallmark announces the sale of Lake Park Colonial at a price of $6,250,000. The 54-unit multifamily property is located at 1865 Edgewood Avenue West in Jacksonville, Florida. Vice President Luke McCann and Senior Vice President John Rutherford brokered the transaction on behalf of GAN Realty, the Seller, and a JV between Navarino Capital Management and Mayfair Investment Partners as the Buyers.
“NAI Hallmark is pleased to have represented the Seller and Buyer in the off-market transaction of Lake Park Colonial. The property represents a strong value-add opportunity in a transformative neighborhood in the Northside submarket,” said Vice President Luke McCann of NAI Hallmark. “With further exponential job growth, wage growth and favorable supply & demand metrics, buyers continue to view Jacksonville as a top market for their investment capital.
Situated on 2.64 acres, the multifamily asset was built in 1967 and consists of 54 units dominated by split-level townhome style floor plans featuring two bedrooms and 1.5 bathrooms. Lake Park Colonial is located in the Northside submarket, known as the logistics & distribution hub of Jacksonville, as it gives great access to Jacksonville International Airport, multiple railways, I-10 & I-95 and the St. Johns River.
For more information regarding the sale of Lake Park Colonial or any questions relating to multifamily investment assets, please contact Luke McCann at lmm@naihallmark.com.
