August 9, 2020
CBRE has arranged the $22.8 million sale of Hunters Way, a 200-unit apartment community in Jacksonville’s Mandarin area. Joe Ayers and Cliff Taylor of CBRE represented the buyer, Maryland Management Co., in the transaction. The seller was not disclosed.
Located at 10101 Arrowhead Drive, the property is nearby I-295, Orange Park, The Avenues Mall and a number of local dining, shopping and entertainment venues. Amenities include two swimming pools, a fitness center, laundry center, picnic areas, playgrounds and a barbecue area.
“Hunters Way represents an incredible value-add opportunity for the buyer in the Mandarin suburb of Jacksonville, one of the city’s most sought after neighborhoods,” said CBRE’s Taylor. “This submarket has been an incredibly stable suburb for the last 30 years, with high-income demographics due to the way the San Jose Boulevard corridor hugs the St. Johns River. It is rare to find untouched value-add opportunities such as Hunter’s Way this late in the cycle.”
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Tags: Apartments & Multifamily