Acram Group And Oak Hill Advisors Acquire Jacksonville Office Property For $73.2M

The office property at 1301 Riverplace Blvd in Jacksonville was recently sold for $73,200,000. The transaction took place on December 22, 2021. The property spans 8.6 acres and offers 460,000 square feet of space. The sale price per square foot was $159. The buyer of the property was Acram Group, represented by Aaron Lazovik and Matt Cassin, and Oak Hill Advisors, represented by Matt Borstein. The seller was LCP Riverplace LLC. The buyer's representative in the deal was Rob Turner from Eastdil Secured, while Robbie McEwan and Michael Loftin represented the seller at JLL.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $73,200,000
• Address: 1301 Riverplace Blvd
• Market: Jacksonville
• Acres: 8.6

The lender involved in the transaction was Deutsche Bank Securities. The sale of this office property represents a significant deal in the Jacksonville market, showcasing the strong demand for commercial real estate in the area.