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Jax Daily Record Thursday, May 12, 202212:13 PM EST

Southside Villas apartments sell for $68 million

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The 300-unit community was built in 1990 and sold for a per-unit price of $226,666.
by: Dan Macdonald Staff Writer

Southside Villas apartments at 8745 Palm Breeze Road sold May 5 for $68 million.

Southside Blvd. Borrower LLC, a division of Ashcroft Capital of New York City, sold the property to Southside Blvd. Borrower II LLC, also a division of Ashcroft Capital. The per-unit price is $226,666.

Southside Blvd. Borrower II LLC then signed a mortgage for almost $56.9 million with PGIM Real Estate US Debt Fund REIT LLC.

The 300-unit apartment community, built in 1990, sits on 28.3 acres. It is along Southside Boulevard about 1½ miles north of The Avenues mall. 

It features one-, two- and three-bedroom units from 831 to 1,214 square feet. Rents are $1,295 to $2,255 a month, according to apartments.com. 

The property’s current taxable value is $39.7 million.

Amenities listed on southsidevillas.com include a resort-style pool and sun deck, outdoor kitchen with gaming area and fire pit, dog park, 24-hour fitness center, yoga room, community hammock garden and a resident activity center.

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