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Jax Daily Record Thursday, Sep. 8, 202206:39 PM EST

Topaz Village in Ortega sells for $66 million

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The 444-apartment community was built in 1972 and sold for nearly $150,000 a unit.
by: Dan Macdonald Staff Writer

Two properties that make up the Topaz Villas at 5327 Timuquana Road sold for $66 million Sept. 7.

Through Mission Springs JV 2019 LLC, Lynd Co. of San Antonio sold the apartments to NS Property Management of Fort Lauderdale, which bought the property through Villas at Ortega LP.

Lynd bought the apartments in June 2019 for $35.15 million from Invest in America’s Veterans of Ponte Vedra Beach.

The apartments are at Timuquana Road and Catoma Street near the Timuquana Animal Hospital.

The two buildings were constructed in 1972 on 18.66 acres and have a combined 444 units. The per-unit sale price is $148,648.

There are one-, two- and three-bedroom apartments ranging from 500 to 1,400 square feet. Monthly rents range from $885 to $1,800, according to apartments.com.

Amenities include a pool, fitness center, tennis court, clubhouse, laundry facilities and on-site management.

The combined taxable value is $19,846,299.

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