Aaron Gorin Of Cedar Grove Capital Acquires 607-Unit Multifamily Portfolio In Jacksonville

The portfolio of three apartment properties in Jacksonville, Fla., totaling 607 units was sold for $65.4 million. The properties, known as Oasis Club, Magnolia Point, and Lakewood Oaks, were constructed in the early 1970s. The sale price per unit ranged from approximately $97,101 to $113,656, with Magnolia Point carrying a debt of $29.5 million.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $65,400,000
• Units: 607
• Price Per Unit: $107,743
• Address: 5800 University Boulevard West, 7507 Beach Boulevard & 3534 Smithfield Street
• Market: Jacksonville
• Buyer: Aaron Gorin - Cedar Grove Capital

Cedar Grove Capital, represented by Aaron Gorin, acquired the three apartment properties in Jacksonville from limited liability companies associated with a Prosper, Texas, investor. The properties, with a total of 607 units, were a notable addition to Cedar Grove Capital's portfolio in the real estate market.