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Jax Daily Record Wednesday, Oct. 17, 201805:20 AM EST

Pair of Ponte Vedra Beach apartments sold for $80.1 million

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Two New Jersey-based firms buy Soleil, Seaglass.
by: Jay Schlichter Staff Writer

Two New Jersey companies bought two adjacent apartment communities in Ponte Vedra Beach for $80.1 million.

Soleil at Ponte Vedra Beach sold to PRII Ponte Vedra Soleil Owner LLC for $35.1 million and Seaglass at Ponte Vedra Beach sold to PRII Ponte Vedra Seaglass Owner LLC for $45 million. 

Both buyers are listed at the same address in Madison, New Jersey.

Stonegate II LLC sold Soleil and Stonegate III LLC sold Seaglass. Len W. Allen Jr., the president of both Stonegates, signed the deeds Oct. 10 and Oct. 15.

The apartment communities, each with 240 units, have been renamed. Soleil is now ARIUM Surfside at Ponte Vedra Beach. Seaglass had ARIUM added to its title.

According to its website, ARIUM is a private real estate investment firm with 94 properties and more than 31,000 units across eight states. The company is part of the Carroll Organization, headquartered in Atlanta.

Representatives for the new owners and Allen could not be reached for comment. 

Public records show that the Stonegate firms are based in Jacksonville Beach and are tied to several other limited liability companies, including Contega Business Services LLC, North Platte LLC and Ascona LLC.

All share an address with the Driver, McAfee, Hawthorne & Diebenow law firm at One Independent Drive, Suite 1200, in the Wells Fargo Center.

Attorney Steve Diebenow said he could not comment about the transactions.

Rents at Seaglass range from $1,315 for a one-bedroom unit to $1,515 for a two-bedroom unit. At Surfside, rents range from $1,000 for a one-bedroom unit to $1,450 for a two-bedroom unit.

The Soleil — or Surfside— apartments were last sold in April 2015 for $28.8 million and the Seaglass apartment were last sold in May 2015 for $28 million.(904) 356-2466

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