Argyle Picks Up 289-Unit Jacksonville Rental Community
Argyle Real Estate Capital acquired a Jacksonville apartment complex from WRH Realty. Argyle obtained a $31.3 million Freddie Mac-backed loan with a 10-year term, floating rate and 7-year interest-only.
Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler, and Hugo Hernandez of Berkadia Boca Raton and Miami lined up financing for the buyers. Berkadia’s Greg Rainey led the transaction on behalf of WRH Realty.
The 289-unit property was 96% occupied at the time of sale.
Built in 2007 on a 19-acre site at 9455 103rd Street, Addison Landing is a garden-style multifamily community consisting of 34 two- and three-story buildings. The average unit size is 1,126 square feet. Select units offer private fenced yards and lake views. Community amenities include a swimming pool, sundeck, outdoor kitchen and poolside lounge and a clubhouse with fitness center.
Other News
Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
Learn more
Mortgage Rates Tilt Demand Toward Multifamily: Marcus & Millichap
An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
Learn more
Revere, MA Weighs 1,700-Unit Housing Project
The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout