Beachwold Residential inked a $50.5 million first mortgage loan to refinance a 308-unit garden-style apartment community in Jacksonville, FL. The financing was led by Mesa West Capital’s Russell Frahm and Brad McCarthy. The loan was arranged by Taylor Williams of Walker and Dunlop.Â
The five-year, non-recourse loan is secured by Gran Bay Apartments, a 308-unit, 2015-vintage garden-style community comprising 14 buildings on 15.5 acres. The property offers a mix of one, two, and three-bedroom units featuring stainless steel appliances, walk-in closets, private balconies, and in-unit washers and dryers. Amenities include a swimming pool, fitness center, business center, grilling areas, fire pits, dog park, and children’s play area.Â
Gran Bay Apartments is located at 13444 Gran Bay Parkway in Duval County’s Southside submarket, providing immediate access to Interstate 95 and proximity to Flagler Center, a major employment corridor anchored by Baptist Medical Center and Citigroup’s regional operations campus.
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