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Jax Daily Record Monday, Jul. 12, 202103:10 PM EST

SoBa Apartments sold for $35.4 million

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The 147-unit community on the Downtown Southbank was built in 2019.
by: Katie Garwood Staff Writer

SoBa Apartments on the Downtown Southbank sold July 1 for $35,375,000, according to a deed recorded July 12 with the Duval County Clerk of Courts. 

Erik Bjornson and Tyler Nilsson of Newmark Knight Frank brokered the sale of the community at 1444 Home St.

Atlanta-based Catalyst Development Partners sold the four-story, 147-unit property to Tampa-based Robbins Property Associates.

The property at Hendricks Avenue and Prudential Drive was built in 2019, according to property records. 

The average per-unit sale price was $240,646. It was fully occupied at the time of the sale. 

“The Sale sets a new high watermark for price per unit in the downtown submarket (urban core),” Bjornson said in an email. “The asset is perfectly situated to service the Downtown Medical District as well as filling the continued demand for rooftops in the Urban Core.”

SoBa offers one-, two- and three-bedroom floorplans with rents from $1,321 to $2,319 per month. 

Units offer granite countertops, a kitchen island, stainless steel appliances, vinyl plank flooring, walk-in closets and patios. 

Amenities include a resort-style pool, fitness center, co-working space, game room, summer kitchens, fire pit and parking garage. 

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