The Avery at River City Marketplace apartments in North Jacksonville sold Oct. 2 for $67.5 million.
The 390-unit community is at 14200 Duval Road about 3 miles east of Jacksonville International Airport and 1.4 miles west of River City Marketplace.
Jacksonville-based Corner Lot sold The Avery through Duval MF Partners LLC and Duval MF Partners LLC II.
DeBartolo Holdings of Tampa bought the apartments through Avery Property Owner LLC. DeBartolo Holdings manages the investments of the DeBartolo family.
Avery Property Owner then took out a $66.43 million mortgage with FS Creit Originator LLC. The deed says the mortgage holder’s address is in care of Rialto Capital Management in New York City. Rialto and Philadelphia-based Future Standard are partners that specialize “in originating private, senior loans for trusted sponsors.”
The apartments were built in two phases on adjoining properties and sold in two transactions. The per-unit price was $112,500.
The buildings at 14200 Duval Road sold for $43.875 million. Built in 2022 on 13.53 acres, it comprises nine three-story buildings with 270 units.
The undeveloped property sold for $350,000 in 2020.
The adjoining half at 14180 Duval Road sold for $23.625 million. Built in 2023 on 6.57 acres, it comprises four three-story buildings with 120 units.
Its undeveloped property sold for $225,000 in 2023.
The Avery features one-, two- and three-bedroom units with one or two baths from 756 to 1,248 square feet. Monthly rents are $1,233 to $1,809, according to apartments.com.
Amenities include a coffee bar, pool with cabanas, indoor and outdoor social area, a firepit, pet spa, walking and biking trails, picnic area, clubhouse, fitness center and package service. Management and maintenance are on site.