Passco Acquires Multifamily Community Near Jacksonville for $54.9M

PONTE VEDRA, FLA. — Passco Cos. has acquired The Reserve at Nocatee, a 244-unit multifamily community in Ponte Vedra, for $54.9 million. The property, which was built in 2018, offers one-, two- and three-bedroom floor plans. Communal amenities include a fitness center, pool with cabanas and a dog park. The community is situated on 20 acres at 215 Hunters Lake Way, 25 miles south of downtown Jacksonville. Brian Moulder and Dhaval Patel of Walker & Dunlop brokered the transaction. Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group originated the acquisition loan on behalf of the buyer. The seller was not disclosed.