Colorado-Based FrontRange Capital Partners Purchases The Southerly at Southbank in Jacksonville

CBRE has arranged the sale of The Southerly at Southbank, a new riverfront multifamily property located at 959 Prudential Drive in Jacksonville, Fla. Colorado-based FrontRange Capital Partners purchased the property.

CBRE’s Cliff Taylor and Joe Ayers represented the developer, Texas-based Ventures Development Group, in the transaction.

“Ventures Development Group delivered a phenomenal property that was well received by the market, as evidenced by the property’s rapid lease-up,” said CBRE Senior Vice President Joe Ayers. “With several dynamic projects underway within the Central Business District, from master-planned public spaces to high-end hospitality, now is a great time for investors like FrontRange Capital Partners to acquire high-profile assets in downtown Jacksonville.”

Located along St. Johns River, The Southerly at Southbank offers a mix of studio, one-, two- and three-bedroom floorplans averaging 800 square feet. Community amenities include a swimming pool with lounge seating, game room, 24/7 health and wellness center, dog park and pet spa, smart home technology, keyless entry and Wi-Fi thermostats.

The 185-unit property sits adjacent to Baptist Health medical complex, the MD Anderson Cancer Center, Wolfson Children’s Hospital and Nemours Children’s Health. Residents have nearby access to a new dedicated pedestrian bridge spanning the St. Johns River, connecting The Southerly at Southbank to the Riverside neighborhood and the Riverside Arts Market.