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Joe Lubeck Of American Landmark Apartments Acquires Vinoy At St. Johns In Jacksonville For $66.36M

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SOLD
$66,360,000

Florida

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MultiFamily
Sold 10/08/2025
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Property Image
SOLD

Joe Lubeck Of American Landmark Apartments Acquires Vinoy At St. Johns In Jacksonville For $66.36M

12310 Seacrest Lane

See Similar Deals
MultiFamily
Sold 10/08/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily asset located at 12310 Seacrest Lane, Jacksonville, encompasses 27.22 acres and consists of 420 units. The property was purchased for $66,360,000, translating to a price per unit of $158,000. Built in 2007, the complex includes one- to three-bedroom units along with amenities such as a pool, fitness center, and clubhouse.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $66,360,000
  • Units: 420
  • Price Per Unit: $158,000
  • Seller: Mohammed Alardhi - Investcorp
  • Buyer: Joe Lubeck - American Landmark Apartments
  • Date of Transaction: 10/08/2025
  • Market: Jacksonville

Joe Lubeck represented American Landmark Apartments in the acquisition of the property from seller Mohammed Alardhi, who represented Investcorp. The property is located in a market recognized for its multifamily investment potential, reflecting the strategic choices made by both parties in this transaction.

Players

Joe Lubeck
American Landmark Apartments
Joe Lubeck
11 deals$563M volume
BUYER
Investcorp
Investcorp
SELLER

Details

SOLD
IMAGE: Mohammed Alardhi & Joe Lubeck DATE: 10/08/2025 ADDRESS: 12310 Seacrest Lane MARKET: Jacksonville ASSET TYPE: Multifamily ~ ACRES: 27.22 BUYER: Joe Lubeck - American Landmark Apartments (@AmericanLandmarkApartments) SELLER: Mohammed Alardhi - Investcorp (@Investcorp) SALE PRICE: $66,360,000 UNITS: 420 ~ PPU: $158,000 NOTE: Tampa-based American Landmark Apartments purchased the 420-unit Rosemont St. Johns community in Jacksonville from Investcorp for $66.36 million ($158,000 per unit), rebranding it as Vinoy at St. Johns. Built in 2007, the 27-acre complex features one- to three-bedroom units and resort-style amenities including a pool, fitness center, and clubhouse.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,539,200.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$235,763.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$314,580.26
Annual Debt Service$3,774,963.06