The Grand Reserve Apartment Homes is a 263-unit value-add multifamily community located at 3001 SW 24th Ave in Ocala, Florida. Built in 2003, it offers one-, two- and three-bedroom units with an average size of 1,072 square feet. Renovated units feature walk-in closets, full-sized washers and dryers, breakfast bars, granite countertops, screened patios/balconies, and stainless steel appliances. Amenities include a resort-inspired pool, a 24-hour fitness center, a business center, and more.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $70,600,000.00
• Address: 3001 SW 24th Ave, Ocala, FL, 34471
• Market: Ocala

The deal was brokered by JLL, with Ken Delvillar leading the team that represented the seller, ApexOne Investment Partners. Melissa Marcolini Quinn and Lee Weaver from JLL's Capital Markets team arranged debt and equity financing totaling $65 million for the buyer, JT Capital. The debt provider was an unnamed life insurance company, while the equity source was an undisclosed institutional investor.