Herman E. Ratchford, Jr. Of Southwood Realty Acquires 384-Unit Reserve At Jacksonville Commons For $54M

The property involved in the transaction is a 384-unit apartment complex known as Reserve at Jacksonville Commons, located at 500 Talon Drive in Jacksonville, NC. The complex was sold for $54 million, which translates to a price per unit of $140,625.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $54,000,000
• Address: 500 Talon Drive
• Market: Jacksonville, NC
• Units: 384
• PPU: $140,625
• Seller: Blue Ridge
• Buyer: Herman E. Ratchford, Jr - Southwood Realty

The transaction highlights Herman E. Ratchford, Jr from Southwood Realty as the buyer representing his firm in acquiring the property from seller Blue Ridge. This sale represents a significant addition to Southwood Realty's portfolio in the Jacksonville market.