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Jax Daily Record Wednesday, Dec. 20, 201706:50 AM EST

Commons on Anniston apartments sold for $23.75 million

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300-unit community bought by company based in California.
by: Andrew Warfield Staff Writer

Commons on Anniston apartments have been sold.

The 300-unit, 24-building community at 1721 Anniston Road just south of Atlantic Boulevard in Arlington was acquired Monday by Commons on Anniston LLC for $23.75 million.

Its parent company is Strategic Diversified Real Estate Holdings LLC of Westlake Village, Calif.

The seller was Commons on Anniston Acquisition LLC of Atlantic Beach. 

The per-unit cost is $79,166. 

The community was built in 1975.

According to the community’s website, rents are $700-$770 for one-bedroom/one-bathroom, $800-$809 for two-bedroom/1.5-bathroom, and $849-$940 for two-bedroom/two-bathroom units. 

Amenities include three pools, a covered picnic area with grills, covered parking and a car spa.

According to its website, Strategic Holdings is a real estate investment company.

Its portfolio includes 16 apartment communities comprising nearly 3,300 units, mostly in the South and Southeast.

The buyer borrowed $18 million from Berkadia Commercial Mortgage of Ambler, Pennsylvania.

For more information, visit strategicholdings.com.

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