The 322-unit Avere Southside Quarter apartments at 7507 Park Village Drive sold Jan. 18 for $78.15 million.
Hines, a privately owned global real estate investment, development and management firm based in Houston, sold the community through SSQ Multifamily Phase II Owner LLC.
Hines said in a news release Jan. 26 it sold the property in a partnership with Las Americas, a global fund management firm.
Avere Southside Quarter borders Interstate 295 to the east and Gate Parkway to the west about 1 mile north of Ikea.
Carter-Haston, a Nashville, Tennessee-based fund management and property management real estate firm, purchased the property through Avere Jacksonville SPE LLC.
Carter-Haston took out a $47.16 million mortgage Jan. 18 with Walker & Dunlop LLC, headquartered in Bethesda, Maryland, with offices in Jacksonville.
Built in 2022, Avere Southside Quarter sits on 10 acres. It comprises six four-story buildings. The per-unit sales price is $242,702. Hines said the property is more than 90% leased.
There are one-, two- and three-bedroom units with one or two full baths. Sizes are 711 square feet to 1,403 square feet. Monthly rents are $1,597 to $2,650, according to Apartments.com.
Amenities include a resort-style pool with a sundeck and cabanas, Big Green Egg grills, a fitness area, yoga studio, pet spa and dog park. There is indoor bicycle storage and attached and detached garages available. There is a clubhouse and a lounge.
Walker & Dunlop managing directors Brian Moulder and Dhaval Patel arranged the sale.
“The sale of Avere Southside Quarter creates valuable liquidity for Hines and our investors at a time when capital markets remain severely constrained,” Hines Senior Managing Director Michael Harrison said in a news release.
“What’s more, we are pleased with the strong success we’ve had with the Southside Quarter master plan. We look forward to advancing our plans for the rest of the Southside Quarter community.”
This story has been updated