JACKSONVILLE, FL., – June 24th, 2022 – NAI Hallmark announces the off-market portfolio sale of the Landings at Southpoint & The Landings at Parkview. The multifamily properties are located at 3530 Victoria Park Road and 6226 Barnes Road South in Jacksonville, Florida. The properties were acquired by a Los Angeles based joint venture between Westmount Square Capital and Miramar Capital Advisors. This is their second acquisition in Jacksonville this year, fourth in the last twelve months, bringing their total unit count to 780 units in the First Coast. “We are thrilled to have sourced this off-market opportunity in a submarket with great employment drivers” commented Mark McGregor, Principal at Westmount Square Capital.
NAI Hallmark Senior Vice President John Rutherford and Vice President Luke McCann brokered the transaction. “NAI Hallmark is pleased to have represented the Seller and Buyer in the off-market sale of The Landings Portfolio,” said Senior Vice President John Rutherford of NAI Hallmark. “This is our third transaction with Westmount Square Capital where their ability to execute in a volatile market offered a great deal of comfort to the transaction’s close.”
The Landings at Southpoint and the Landings at Parkview are comprised of 176 total units and are located on the Southside of Jacksonville with robust neighboring employment centers. They were built between 1967-1972 and their unit mix consists of 1, 2, and 3 bedrooms with an average of 924 SF. Some of the features of the property include a pool, laundry facility, playground, dog park, outdoor lounge space, and a community herb garden. “The properties will undergo significant renovations to interiors and exteriors as we intend on rebranding and investing over $2.5m in improvements” summarized Jonathan Tauber, Principal at Westmount Square Capital.
For more information regarding the sale of The Landings portfolio or any questions relating to multifamily investment assets, please contact John Rutherford at jr@naihallmark.com.
About Westmount Square Capital:
Westmount Square Capital is a private real estate investment firm specializing in the acquisition, management and redevelopment of Multifamily Properties in Southeast Sunbelt. With 780 units under management, the Firm’s acquisition strategy focuses on value-add, garden style, B & C class apartment complexes in Central and Northern Florida. As basis investors, our goal is to seek assets with stabilizing cash flows and upside opportunity through organic rent increases, asset repositioning, and property management optimization. Our company is involved in all stages of the investment process including deal sourcing, acquisitions & dispositions, conducting due diligence, sourcing debt and equity, and property, asset, and construction management.
www.westmountsquarecap.com | info@westmountsquarecap.com
About NAI Hallmark
NAI Hallmark is a full-service commercial real estate company specializing in sales and leasing brokerage, property and facilities management, and corporate services in Northeast Florida. Established in 1993, NAI Hallmark is currently involved in the leasing and/or management of a portfolio in excess of 6 million square feet of office, industrial and retail properties and is one of the leading investment sales practices in Northeast Florida. As a member of the NAI Global network, NAI Hallmark is also connected to the largest network of independent commercial real estate firms worldwide. Learn more at naihallmark.com
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 5,100 local market professionals managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting, and related advisory services.
To learn more, visit www.naiglobal.com or www.naiglobalnewslink.com.
