Jacksonville Community Changes Hands for $22M

Interwest Capital Group has acquired Deerfield Apartments, a 256-unit multifamily property in Jacksonville, Fla. KCB Management sold the asset for $22.3 million. According to Yardi Matrix data, the sale was subject to a 10-year, $17.2 million Fannie Mae loan originated by Berkadia. The community last changed hands in 2013, when Castle Hill Partners sold it for $10.7 million.

Located at 1171 S. Lane Ave., the property is 1 mile south of Interstate 10, across the road from a Dollar General-anchored strip center. Downtown Jacksonville is 7 miles east of the community, while Jacksonville International Airport is 18 miles north, via Interstate 295. To read the complete press release please visit the link here.