NAI Hallmark announces the sale of The Forest Apartments for $9,200,000. The property is located at 6756 103rd Street, Jacksonville, FL 32210. Senior Vice President John Rutherford brokered the transaction on behalf of the seller- Hyperion Endeavors, a private Dallas, TX based real-estate investment firm and the buyer- Westmount Square Capital, a private Los Angeles, CA based real-estate investment firm.
The 113-unit multifamily asset was built in 1966 in the Westside submarket of Jacksonville. The property is centrally located less than a mile away from the I-295 Interchange with 103rd Street, and is within walking distance to several dining and retail destinations. The property is comprised of sizeable floorplans ranging from studios up to 3-bedrooms.
“The Forest Apartments was a full-cycle sale in less than 3 years showing that the demand for investor appetite in North Florida remains incredibly strong, especially for well-located, value-add opportunities. The new owners will benefit from a strong Westside Jacksonville submarket that continues to further its economic development as a logistics & distribution hub of the Southeast,” said Senior Vice President John Rutherford of NAI Hallmark.
For more information regarding the sale of The Forest Apartments, or any questions relating to multifamily investment assets, please contact John Rutherford at jr@naihallmark.com
