Joe Lubeck Of American Landmark Apartments Acquires The Vale At Baymeadows For $42M

The Vale at Baymeadows is a multifamily apartment community located at 7820 Baymeadows Road East in Jacksonville, Florida. The property spans 23.22 acres and consists of 276 units, with a price per unit of $152,174. It was sold for $42 million by Resource Real Estate Opportunity OP II LP and financed with a mortgage of $37.97 million from PGIM Real Estate. The property was built in 2001 and features 14 buildings.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $42,000,000
• Buyer: Joe Lubeck - American Landmark Apartments
• Seller: Resource Real Estate Opportunity OP II LP
• Lender: PGIM
• Units: 276
• PPU: $152,174
• Acres: 23.22

Joe Lubeck represents American Landmark Apartments in this acquisition, highlighting the strategic investment in the Jacksonville multifamily market. The transaction reflects an affiliation with Blackstone Real Estate Income Trust, as the property was sold by its affiliate.