REBusinessOnline

Lloyd Jones Acquires 444-Unit Apartment Community in Tallahassee for $57.8M

The Westcott Apartments features two swimming pools, two fitness center, playgrounds and tennis courts.

TALLAHASSEE, FLA. — Lloyd Jones has acquired The Westcott Apartments, a 444-unit multifamily community located at 3909 Reserve Drive in Tallahassee, for $57.8 million. The name of the seller was not disclosed. Constructed in 2000 and 2005, the community offers a mix of one-, two- and three-bedroom floor plans and features two swimming pools, two fitness center, playgrounds and tennis courts. Lloyd Jones plans to renovate The Westcott, which is the Miami-based private equity investor’s second acquisition in the Tallahassee area.

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