JACKSONVILLE, FL., – November 4th, 2021 – NAI Hallmark announces the sale of The Reserve at St. Johns River Apartments for $45,100,000. The property is located at 5885 Edenfield Road, Jacksonville, Florida 32277. Senior Vice President John Rutherford and Senior Associate Luke McCann brokered the transaction on behalf of the seller, Savlan Capital, to the buyer, a joint venture between Westmount Square Capital & Miramar Capital.
“The sale of The Reserve at St Johns River represents a strong value-add opportunity in the Charter Point submarket of Jacksonville with an irreplaceable location on the St Johns River. Westmount Square & Miramar Capital are going to benefit from the continued population growth in Jacksonville looking for quality, affordable housing.” said Senior Vice President John Rutherford of NAI Hallmark.
The 332-unit multifamily asset was built in 1975 and is comprised of sizeable floorplans ranging from one- to three-bedrooms housed in three-story buildings situated on almost fourteen acres. Located in the Charter Point submarket, the Property boasts 1,175’ of St. Johns River frontage with 139 units showcasing premium waterfront views. The Property benefits from top recreation in the immediate area that includes Blue Cypress Golf Course and Reddie Point Preserve along with numerous retailers within a short drive.
For more information regarding the sale of The Reserve at St. Johns River Apartments or any questions relating to multifamily investment assets, please contact John Rutherford at jr@naihallmark.com
