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Stonemont Village Apartments in Jacksonville sold - Jacksonville Business Journal

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Jacksonville apartment community sold for $13 million

Stonemont Village apartments recently sold for $13 million, NAI Hallmark announced.NAI Hallmark Vice President Luke McCann and Senior Vice President John Rutherford brokered the transaction on behalf of Huber Equity Group, the seller, and a joint venture between Navarino Capital Management and Mayfair Investment Partners as the buyers.

“The property is in a premier location within the San Marco submarket offering tremendous upside as the immediate area continues to be a top destination for renters and investors alike,” McCann said in a release. “The new construction projects along U.S. 1 to the north, to the intersection redevelopment at U.S. 1 and Emerson Street to the south will further enhance the property and bring continued value to the neighborhood.

Situated on 5.17 acres, the multifamily asset was built in 1974 and consists of nine two-story buildings comprised of both one- and two-bedroom units.

 

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