Cyclone Investment Group & Skywood Properties Acquires Multifamily Portfolio In Jacksonville, FL For $96M
1441 Manotak Avenue, 301 Caravan Circle, & 333 Laurina Street
791,694 SF
Summary
The multifamily property located at 1441 Manotak Avenue, 301 Caravan Circle, and 333 Laurina Street in Jacksonville, FL has been sold in a closed transaction. The property consists of 842 units with a total square footage of 791,694. The sale price for this transaction was $96,000,000, resulting in a price per unit of $114,014 and a price per square foot of $121.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $96,000,000
- Address: 1441 Manotak Avenue, 301 Caravan Circle, & 333 Laurina Street, Jacksonville, FL
- Market: Jacksonville, FL
The buyer of this property was Cyclone Investment Group & Skywood Properties, while the seller was Oro Capital Advisors. The seller was represented by Cliff Taylor & Joe Ayers from CBRE. The lender for this transaction was Arbor Realty Trust, and the mortgage brokers involved were Jeff Kinney & Phil Rachels from CBRE Capital Markets. The loan terms included three-year bridge financing with a LIBOR floating rate loan.
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