The 312-unit Exchange at Orange Park apartments in West Jacksonville sold Dec. 18 for $52 million.
The community is at 4925 Collins Road north of Orange Park. It is north of Interstate 295 and west of U.S. 17.
Hathaway Development of Atlanta sold the property through Orange Park Exchange Apartments LLC. The per-unit sales price is $166,667.
The property was purchased by three firms: Jazco Property Management, through Jazco Orange Park Realty LLC (73.26%); RAS Realty Partners of Boca Raton, through RAS Orange Park Owner LLC (16.97%); and Klein Enterprises of New York, through KE Orange Park Realty LLC (9.77%).
The three owners took out a $44.8 million mortgage with New York-based MF1 though MF1 Capital LLC. MF1 is a multifamily joint lending partnership of Boston-based Berkshire Residential Investments and New York-based Limekiln Real Estate.
The 16.84-acre Exchange at Orange Park was built in 2023 and comprises 13 three-story apartment buildings, a clubhouse and a utility building.
The one-, two- and three-bedroom apartment units have one or two full baths and are 598 to 1,289 square feet in size.
Rents are $1,403 to $3,664, according to apartments.com.
Amenities include concierge service, a pet play area, clubhouse, lounge, fitness center, grill area and swimming pool.
The land sold for $3.87 million in December 2020.