Joe Lubeck Of American Landmark Apartments Acquires Vinoy At St. Johns In Jacksonville For $66.36M
12310 Seacrest Lane
$66,360,000
Units
420
Asset Type
MultiFamily
Closing
Oct 8, 2025
AI
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
Jacksonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93