CBRE Arranges $51.3 Million Sale of New 180-Unit Multifamily Property in Jacksonville, FL to Amzak Capital Management
November 17, 2022
CBRE has arranged the sale of The Station Fleming Island, a newly constructed 180-unit, Class A multifamily property in Jacksonville, Fla. Amzak Capital Management purchased the property for $51.3 million.
“The Bristol team delivered another best-in-class asset that was sorely needed in Fleming Island. As the first new construction multifamily property to be built on the island in over 20 years, The Station Fleming Island helps answer renter demand for high-quality housing options in the highly rated Clay County school district and near the soon-to-open Baptist Hospital,” said CBRE Senior Vice President Cliff Taylor.
He added, “With continued in-migration to the city and strong employment growth, The Station Fleming Island is poised to perform at a high level for the buyer for many years to come.”
Located at 1757 Theodora Lane, The Station Fleming Island is one of only three apartment communities located on Fleming Island. The property consists of five elevator-serviced buildings offering one-, two-, and three-bedroom units averaging 932 square feet. Units feature quartz countertops, stainless steel appliances, and balconies. Community amenities include a resort-style pool, grilling stations, contemporary coffee bar, fitness studio and community great room.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.