JACKSONVILLE, FL., – April 27, 2022 – NAI Hallmark announces the sale of the Tree Hill Multifamily Portfolio for $8,500,000. The properties are located at 1135 Bert Road and 7210-7220 Parker School Road in Jacksonville, Florida. Vice President Luke McCann and Senior Vice President John Rutherford brokered the transaction on behalf of TASS Investments, the Seller, and Fincapital Investments, the Buyer.
“NAI Hallmark is pleased to have represented the Seller and Buyer in the sale of the Tree Hill Multifamily Portfolio,” said Vice President Luke McCann of NAI Hallmark. “This portfolio has an outstanding location within the Arlington submarket, and the townhome-style units offer a unique product to renters in the area. New ownership plans on continuing the improvements to meet the demand of new residents in a submarket that has seen tremendous rent growth as of late.”
The multifamily assets were built from 1968-1981 and consist of a total of 78 multifamily units in a combination of one and two bedroom apartments and townhomes on 3.16 acres over two locations. The properties are located in the Arlington submarket adjacent to the Tree Hill Nature Center and Terry Parker Senior High School. Over $2.4M in capital improvements had been spent on the Properties, including an average interior renovation cost of $15K per unit. For more information regarding the sale of the Tree Hill Multifamily Portfolio or any questions relating to multifamily investment assets, please contact Luke McCann at lmm@naihallmark.com
