Updated May 24, 2026
Herman E. Ratchford, Jr. Of Southwood Realty Acquires 384-Unit Reserve At Jacksonville Commons For $54M
500 Talon Drive
$54,000,000
Units
384
Asset Type
MultiFamily
Closing
May 22, 2026
About this deal
AI
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.
On the Map
$54,000,000
MultiFamily
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Market 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93