JACKSONVILLE, Fla. and BIRMINGHAM, Ala. – July 6, 2022 – Berkadia announced today the sale of The Commons, a 328-unit multifamily property located in Jacksonville, Florida. Director Greg Rainey of Berkadia Jacksonville and Managing Director David Etchison of Berkadia Birmingham completed the sale on behalf of the seller, California-based Strategic Holdings. The buyer was a Park Ridge, Illinois based commercial real estate private family firm, and the deal closed on June 16.
“The sale of The Commons is yet another illustration of the continued investor appetite for Jacksonville,” said Rainey. “While the debt markets continue their volatility, Jacksonville, and the rest of Florida for that matter, remains extremely healthy from an operational and fundamental standpoint. We are thrilled to witness the improvements made at The Commons over the coming years as this Buyer enters the Jacksonville market with some exciting plans to improve the community.”
Located at 1721 Anniston Rd., The Commons features one-, two- and three-bedroom floor plans with walk-in closets. Community amenities include three swimming pools, a fitness center and covered parking. Residents are afforded convenient access to the Jacksonville Beaches, University of North Florida, Jacksonville University and the shops and restaurants near Atlantic Boulevard and Interstate 295.