THREE DISTRESSED MULTIFAMILY PROPERTY SELL IN PENSACOLA, FLA.
PENSACOLA, FLA. — J.I. Kislak has acquired three multifamily properties from Miami-based Ocean Beach for an undisclosed price. The recently foreclosed properties, which are located in Pensacola, offer a total of 481 apartment units. The assets include Villas at Jasmine Creek, Villas at Jasmine Fields and all rental units from Villas at Jasmine Park. The buyer has significant renovations planned for the properties. Terms of the transaction were not released.