The year-old Southerly at Southbank apartments at 959 Prudential Drive sold for $57.7 million on Oct. 21.
Through Southbank Multifamily LLC, Ventures Development Group of Southlake, Texas, sold the apartments to FrontRange Capital Partners of Denver.
FrontRange created FR Southerly LLC to buy the property.
The deed was recorded Oct. 24 with the Duval County Clerk of Courts.
The eight-story, 185-unit community was built in 2021 on 2.5 acres. The per-unit sales price was $311,891.
CBRE Group inc. announced Oct. 25 that it arranged the sale of The Southerly at Southbank to FrontRange Capital Partners.
CBRE’s Cliff Taylor and Joe Ayers represented the developer, Ventures Development Group, in the transaction.
Summit Contracting Group built the apartments, which are between the Acosta Bridge and the Eight Forty One building anchored by One Call.
The Southerly at Southbank comprises studio, one-, two- and three-bedroom units from 404 to 1,714 square feet. Monthly rents are $1,365 to $4,565 according to apartments.com.
The apartments feature balconies with a view of the St. Johns River. They have smart home technology, keyless entry and Wi-Fi thermostats.
There are indoor and outdoor social areas, a resort-style pool that overlooks the river, a health and wellness center, game room, dog park and pet spa.
Southbank Multifamily LLC bought the property in 2020 for $3.75 million from Hines-SSGP Riverpointe LLC, which is affiliated with Hines, a Houston-based global real estate investment group.
