Beach Boulevard apartments sell for $37.6 million - Jacksonville Business Journal

A Beach Boulevard apartment complex has sold for $37.6 million or $165,638 per unit to a Miami-based firm, brokerage NAI Hallmark announced Tuesday.

Magnolia Point Apartments, located at 7507 Beach Blvd., consists of 227 units, a press release said. The seller is Englewood Cliffs, New Jersey-based Simplicity Capital. The buyer is Miami real estate firm Fincapital Investments. In a social media post, Fincapital Investments said Magnolia Point was the company's fifth acquisition in 2022 and ninth addition to its portfolio. Built in 1973, the property sits on 15 acres and the units are spread across 30 two-story buildings with one-, two- and three-bedroom apartments.

NAI Hallmark Senior Vice President John Rutherford and Vice President Luke McCann brokered the transaction, the release said.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jacksonville auto show 2023 - Jacksonville Business JournalWhat to expect at the 2023 Jacksonville International Auto Show
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Gallery: A look at major downtown Jacksonville projects heading into 2023 - Jacksonville Business JournalThe list features ventures from out-of-state and local developers, both adaptive reuses and new construction, spread across a variety of multifamily, hotel and retail sectors.
Source: JaxBizJournal - 🏆 599. / 51 Read more »