Updated Aug 19, 2025
Paul Siegel Of EMET Capital Acquires 332-Unit Edenfield Shores Apartments From Paul Fuhrman For $37M
5885 Edenfield Road
$37,000,000
Units
332
Asset Type
MultiFamily
Closing
Aug 8, 2025
About this deal
AI
The 332-unit Edenfield Shores apartments, located at 5885 Edenfield Road in Jacksonville, has been sold for $37,000,000. The multifamily property spans 26.6 acres and includes one- to three-bedroom units across 15 buildings. The average price per unit for this transaction is $111,446.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $37,000,000
- Units: 332
- Price Per Unit: $111,446
- Buyer: Paul Siegel - EMET Capital
- Seller: Paul Fuhrman - Miramar Capital
- Date of Transaction: 08/08/2025
- Asset Size: 26.6 acres
- Market: Jacksonville
Paul Siegel from EMET Capital represented the buyer in this transaction, while Paul Fuhrman from Miramar Capital represented the seller. The property, constructed in 1975, offers various amenities, including pools, a clubhouse, and views of the St. Johns River.
On the Map
$37,000,000
MultiFamily
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Jacksonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93