Mandarin Apartments, a 401-unit community at 3200 Hartley Road, was sold March 15 for $36 million.
The apartments, east of San Jose Boulevard and Interstate 295, were previously called Avesta Mandarin.
Tampa-based Mandarin Apartments I and II LLCs, led by manager David Greider, was the buyer.
Texas-based InvestRes, a residential real estate investment management firm, was the seller.
The apartments, built in 1974, comprise 54 buildings and last sold in 2014 for $15.8 million, according to property records.
Berkadia in North Florida and Tampa arranged the sale and financing. Greg Rainey with Berkadia in Jacksonville said the sale was an off-market transaction.
Rainey said the sale was the buyer's first entry into the Jacksonville market.
Berkadia Commercial Mortgage LLC issued a mortgage to the buyer for $27.13 million.
Calls to Greider were not returned for comment.