Arbors at Orange Park Apartments sell for $56 million

Two Utah-based companies buy and sell the 270-unit community built in 1984.

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The 270-unit Arbors at Orange Park Apartments at 198 Arora Blvd. sold July 27 for $56 million.

Bridge Investment Group of Sandy, Utah, through BMF V FL Arbors Orange Park LLC bought the property from PAC 198 Arora LP of Draper, Utah. 

The property is west of Blanding Boulevard and east of S. Bryan Jennings Elementary School. It is less than a quarter-mile south of the Orange Park Mall and 7½ miles from Naval Air Station Jacksonville.

The 17-acre community, built in 1984, comprises 26 two-story buildings.

 The per unit price is $207,407. 

The property last sold in 2018 for $29.65 million.

The apartments feature one-, two- and three-bedroom units from 720 to 1,360 square feet, according to 

Amenities include a dog park, soccer field, pool, fitness center, sports court and picnic area with a grill.