Skip to main content
Real Estate
Jax Daily Record Wednesday, Sep. 8, 202104:03 PM EST

Olea at Nocatee apartments sell for $56 million

Share
RangeWater completed the 175-unit property in 2021.
by: Katie Garwood Staff Writer

RangeWater Development LLC sold the Olea at Nocatee apartment community Aug. 27 for $56 million to Pennsylvania-based Livingston Street Capital. 

RangeWater sold the 55+ community through CRP/Pollack Ponte Vedra Owner LLC to LSC-Ponte Vedra DST, according to a deed recorded Sept. 8 with the Duval County Clerk of Courts.

CRP/Pollack shares an address in Washington, D.C., with Carlyle Group.

The Duval County portion of the property is 5.02 acres. 

Another 2-acre parcel, where the clubhouse is located, is in St. Johns County. 

The Duval County deed shows the total sales price for the entire property. 

The 175-unit property was completed in 2021. It is at 50 Pine Shadow Parkway near Preservation Trail and Cross Town Parkway.

The average per-unit price was $320,000. 

Newmark Knight Frank’s Erik Bjornson and Tyler Nilsson brokered the sale. 

Houston-based CBRE issued a $33.6 million mortgage to Livingston Street Capital for the purchase. 

Olea offers one-, two- and three-bedroom units, which include granite countertops, tile backsplashes, stainless steel appliances, vinyl plank flooring, balconies and walk-in closets.

Community amenities include a pool, fire pit, lounge, community garden, craft room, fitness studio, dog park, kitchen, game room and lawn, library room and a golf cart rental service.

 

Be the first to know the latest breaking news and information that business leaders rely on in this fast-paced changing Northeast Florida economy. Regional business news, trends and statistics needed to grow your business. Key upcoming events you won’t want to miss and much more. Click Here to Grow your Business NOW!

Related Stories

Advertisement