Argyle Real Estate Capital acquired a Jacksonville apartment complex from WRH Realty. Argyle obtained a $31.3 million Freddie Mac-backed loan with a 10-year term, floating rate and 7-year interest-only. Berkadia’s Greg Rainey led the transaction on behalf of WRH Realty.
Berkadia originated a $31.3 million Freddie Mac-backed loan with a 10-year term, floating rate, and 7 years interest-only. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler, and Hugo Hernandez of Berkadia Boca Raton and Miami lined up financing for the buyers.Â
The 289-unit property was 96% occupied at the time of sale.Â
Built in 2007 on a 19-acre site at 9455 103rd Street, Addison Landing is a garden-style multifamily community consisting of 34 two- and three-story buildings. The average unit size is 1,126 square feet. Select units offer private fenced yards and lake views. Community amenities include a swimming pool, sundeck, outdoor kitchen and poolside lounge and a clubhouse with fitness center.Â
The post Argyle Picks Up 289-Unit Jacksonville Rental Community appeared first on Connect CRE.
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