Joe Lubeck Of American Landmark Apartments Acquires Vinoy At St. Johns In Jacksonville For $66.36M
12310 Seacrest Lane
$66,360,000
Building Size
—
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