Bob Faith Of Greystar Acquires 268-Unit Avana Bartram Springs In Jacksonville For $39.66M

The transaction involved the sale of a 24-acre multifamily property located at 14951 Walden Springs Way, Jacksonville, FL. The property, known as Avana Bartram Springs, consists of 268 residential units with a price per unit of $147,985, culminating in a total sale price of $39,660,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $39,660,000
• Units: 268
• Price Per Unit: $147,985
• Buyer: Bob Faith - Greystar
• Seller: Rick Fogelman & Mark Fogelman - Fogelman Properties
• Market: Jacksonville, FL
• Acres: 24
• Loan Amount: $32.6 million
• Financing Type: Five-year fixed-rate Fannie Mae loan from Walker & Dunlop

Bob Faith represented Greystar in this transaction, acquiring the property from Rick Fogelman and Mark Fogelman, who are affiliated with Fogelman Properties. Greystar plans to implement renovations to the apartments and amenities following the acquisition.