Berkadia Helps Sell Ocala, Pensacola Apartments
Hamilton Point Investments acquired Retreat at 42nd, a 268-unit apartment complex in Ocala, and Legends at Pine Forest, a 170-unit apartment community in Pensacola, Florida. SCorUSA owned and sold both. The Ocala property sold for $50 million.
Cole Whitaker, David Etchison, and Mary Beale of Berkadia Central & North Florida led the transaction on behalf of the seller.
Jeremy Lynch of Berkadia Philadelphia arranged financing through Berkadia’s Proprietary Lending Group (PLG) on behalf of the buyer.
Located at 3491 SW 42nd Street, Retreat at 42nd was built on a 13-acre site and consists of 16 three-story apartment buildings and a 7,500-square-foot clubhouse. The units average 1,727 square feet and rent for an average of $1,804 a month.
Located at 9121 Pine Forest Road in the northwest section of Pensacola, Legends at Pine Forest was built in 2023 on a 9-acre site and consists of 10 three-story apartment buildings and a clubhouse.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout