The real estate company paid $3.3 million for the 16.36-acre Orange Park site.
A developer plans to build a 330-unit apartment community at 5136 Collins Road in Orange Park after buying the property for $3.3 million on Jan. 6.
Gulfstream Jacksonville LLC sold the 16.36-acre site to Collins Preserve Jacksonville LLC, based in Washington, D.C.
Collins Preserve Jacksonville LLC is a division of Republic, which owns and operates residential, retail, office and hospitality properties and is developing the project.
The sale was brokered by Bradley Coe and Matthew McCarthy of Colliers.
The apartments will be built in phases with the clubhouse and the first of 11 three-story buildings expected to be completed within the next 12 months, Coe said.
The community will comprise 132 one-bedroom units from 756 to 816 square feet; 165 two-bedrooms units from 1,164 to 1,176 square feet; and 33 three-bedroom units of 1,248 square feet.
Amenities will include a clubhouse, resort-style pool, grilling area, dog park and fitness center.
“Republic will be offering future residents with a high-end rental living option that provides open concept floor plans, high-end finishes and designer touches,” Coe said.
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