Omar Zavala Of Zavala Capital Group Acquires Four Jacksonville Multifamily Communities From Joe Fishman For $44M

The transaction involves the sale of four apartment communities in Jacksonville, comprising a total of 682 units across approximately 26.7 acres. The properties include Magnolia Terrace, Hyde Park Apartments, University Townhomes, and Reserve at Waters, sold by Joe Fishman of Infinity BH to Omar Zavala of Zavala Capital Group for $44 million. This acquisition was financed with three mortgages from The Bancorp Bank totaling about $39.15 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $44,000,000
• Buyer: Omar Zavala - Zavala Capital Group
• Seller: Joe Fishman - Infinity BH
• Lender: The Bancorp Bank
• Units: 682
• Price Per Unit: $64,516
• Acres: 26.7

This transaction reflects the engagement of Omar Zavala, a Georgia-based investor, who has acquired the properties from Joe Fishman, representing Infinity BH. The financing structure includes mortgages assigned specifically to Magnolia Terrace/Hyde Park, University Townhomes, and Reserve at Waters, indicating a strategic approach to asset acquisition within the multifamily sector.