RJC Legacy Investments Acquires Ocala Multifamily Portfolio For $15.5M

Jacksonville-based investment firm RJC Legacy Investments LLC has acquired a three-property multifamily portfolio in Ocala, Florida. The portfolio includes 14th Street Townhomes, Briarwood Apartments, and Oak Crest Villas Ocala Apartments, totaling 112 units. The properties were sold for a total price of $15,475,000, with a per unit price of $138,170. The sale was completed despite challenges posed by Florida's troubled property insurance market, which resulted in the buyer's insurance premium doubling during the due diligence period.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $15,475,000
• Units: 112
• Price Per Unit: $138,170
• Market: Ocala

The sale of the multifamily portfolio was facilitated by brokers Jason Hague and Ned Roberts from Marcus & Millichap. Their expertise and representation played a crucial role in securing the successful transaction for both the buyer, RJC Legacy Investments LLC, and the seller, Red Knight Properties LLC.

Despite the challenges presented by Florida's property insurance market, RJC Legacy Investments LLC was able to navigate the due diligence period and complete the acquisition. The acquisition of these properties offers the buyer a strong investment opportunity in the Ocala market, as multifamily properties continue to be in high demand.