Cyclone Investment Group & Skywood Properties Acquires Multifamily Portfolio In Jacksonville, FL For $96M

The multifamily property located at 1441 Manotak Avenue, 301 Caravan Circle, and 333 Laurina Street in Jacksonville, FL has been sold in a closed transaction. The property consists of 842 units with a total square footage of 791,694. The sale price for this transaction was $96,000,000, resulting in a price per unit of $114,014 and a price per square foot of $121.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $96,000,000
• Address: 1441 Manotak Avenue, 301 Caravan Circle, & 333 Laurina Street, Jacksonville, FL
• Market: Jacksonville, FL

The buyer of this property was Cyclone Investment Group & Skywood Properties, while the seller was Oro Capital Advisors. The seller was represented by Cliff Taylor & Joe Ayers from CBRE. The lender for this transaction was Arbor Realty Trust, and the mortgage brokers involved were Jeff Kinney & Phil Rachels from CBRE Capital Markets. The loan terms included three-year bridge financing with a LIBOR floating rate loan.