Paul Ellis Of Foundry Commercial Acquires Senior Housing Facility In Jacksonville For $17.5M

The Canopy at Duval Station is a senior housing facility located at 1035 Starratt Road in Jacksonville. The property encompasses 8.71 acres and features 64 units designed for assisted living and memory care, totaling approximately 50,000 square feet. The facility was sold for $17,500,000, with a price per unit of $273,438 and a price per square foot of $350.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $17,500,000
• Buyer: Paul Ellis - Foundry Commercial
• Seller: Micah Linton - Rimrock Companies
• Units: 64
• Loan Amount: $11,460,000 from First Citizens Trust Company
• Year Built: 2022
• Contractor: Marlin Construction Partners Inc.

This transaction involved the seller Rimrock Companies, through Duval Station Holdings LLC, and the buyer Foundry Commercial, represented by FOF 3 Duval Station FL Owner LLC. The development was completed by Rimrock Companies along with Foundry Commercial, showcasing a collaborative effort in the property's construction and subsequent sale.