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FIRST MARKET PROPERTIES BUYS 230-UNIT APT. COMPLEX

JACKSONVILLE, FLA. — First Market Properties has acquired the 230-unit Preserve at St. Nicholas, a garden apartment complex located on Atlantic Boulevard in Jacksonville. First Market Properties purchased its mortgage from a national bank at a discount of approximately 50 percent. The loan had a balance of $13.5 million. The property is currently 78 percent occupied.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
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‣ NAI Global
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