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12310 Seacrest Lane

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

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

Joe Lubeck

American Landmark Apartments

Buyer

$563M

vol

11 deals

Buyer
Investcorp
InvestcorpSeller

Jacksonville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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