SREIT Courtney Manor LLC Acquires Multifamily Property In Jacksonville For $35.5M

The multifamily property located at 5620 Collins Road in Jacksonville was recently sold for a total of $35,476,873. The transaction took place on August 30, 2020 and involved a total of 360 units within the property. The sale price per square foot was $100, and the total square footage of the property is 354,424. The buyer, SREIT Courtney Manor LLC, purchased the property from the seller, VCP-Collins Road LLC.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $35,476,873
• Square Footage: 354,424
• Price Per Square Foot: $100
• Number of Units: 360
• Buyer: SREIT Courtney Manor LLC
• Seller: VCP-Collins Road LLC

This transaction offers a significant investment opportunity in the Jacksonville market. The buyer, SREIT Courtney Manor LLC, recognized the potential of the multifamily property on Collins Road. The seller, VCP-Collins Road LLC, made the decision to sell the property, showcasing their willingness to take advantage of the current market conditions. The transaction highlights the value of the property per unit, which showcases the attractiveness of the investment.