Berkadia Arranges $27.9M Sale of Three-Property Multifamily Portfolio in Jacksonville

JACKSONVILLE, FLA. — Berkadia has arranged the $27.9 million sale of three apartment communities in Jacksonville. Tal Frydman, Greg Rainey and Cole Whitaker of Berkadia represented the seller, Nova Eagle, in the transaction. Infinity Acquisitions LLC acquired the assets. The portfolio includes: Reserve at Water’s Inlet, a 205-unit community located at 6100 Arlington Expressway; Magnolia I, a 276-unit community located at 2045 Jammes Road; and Magnolia II, a 112-unit community located at 2401 Jammes Road. Constructed in 1970, Reserve at Water’s Inlet features one- and two-bedroom apartment units. Community amenities include laundry facilities, a fitness center, business center and a pool. Magnolia I, constructed in 1965, includes one- to three-bedroom units and features barbecue/picnic areas, a clubhouse, on-site laundry facility and a swimming pool. Constructed in 1973, Magnolia II offers one- and two-bedroom units and features laundry facilities, 24-hour security camera monitoring, a swimming pool and a playground.