The 140-unit Silversmith Creek apartments at 7211 Crane Ave. sold June 29 for $21.05 million.
Through Silversmith Crane Holdings LLC, Fincapital Investments LLC in Sunny Isles Beach acquired the property. The seller was Silversmith Holdings LLC through US Investing Group LLC of Atlantic Beach.
The property is west of Arlington Road about a half-mile south of Atlantic Boulevard.
John Rutherford and Luke McCann of NAI Hallmark brokered the deal for the buyer and seller.
“This sale of this property continues to show the resiliency of the North Florida multifamily investment market, buoyed by strong renter demand, especially for quality rentals in growing submarkets,” Rutherford said in a news release.
The 7.75-acre community was built in 1971. The per-unit price is $150,357.
Silversmith Holdings LLC acquired the property in 2018 for $9.46 million.
Silversmith Creek features 650-square-foot, one-bedroom, one-bath units that rent for $950 to $1,150 per month, according to apartments.com.
Amenities include a swimming pool, fitness center, playground, clubhouse and picnic areas with a dock and access to Arlington River. The gated community has on-site management and maintenance.
The property has a taxable value of $9,124,937.