Florida

JACKSONVILLE, FLA. — ARA Newmark has brokered the $20.1 million sale of Eden’s Edge, a 244-unit, garden-style apartment property located near Interstate 295 in Jacksonville. Situated west of the St. John’s River, Eden’s Edge features a mix of one-, two- and three-bedroom layouts with washer and dryer units, fully-equipped kitchens and breakfast bars in each unit. The property’s amenity package includes a pool with sundeck, 24-hour fitness center and cyber café with Wi-Fi. Steve Lear and Erik Bjornson of ARA Newmark represented Colorado-based Real Capital Solutions in the sale to Jacksonville-based Apartment Asset Advisors. Lear and Bjornson were formerly of Walchle Lear, a Jacksonville-based multifamily brokerage firm that was recently acquired by ARA Newmark’s parent company Newmark Grubb Knight Frank, a division of BGC Partners Inc.

ORANGE PARK, FLA. — Robbins Electra has acquired Maple Glen, a 358-unit apartment community located at 1863 Wells Road in Orange Park, a suburb of Jacksonville. Robbins Electra purchased the asset, which will be rebranded as The Parkland at Orange Park, from a Starwood entity for $35.1 million. The community features one-, two- and three-bedroom layouts with average monthly rents of approximately $850. The property was 95 percent occupied at the time of sale. Community amenities include a business center, clubhouse, fitness center and two swimming pools. Robbins Electra will carry out a multimillion dollar property renovation, upgrading apartment interiors and adding or enhancing community amenities. This is Robbins Electra’s eighth property in the Jacksonville region and its first acquisition of 2017. Last year, the company completed over $1 billion in multifamily acquisitions across the Southeast.