Blue Ridge sold the Reserve at Jacksonville Commons apartment complex in Jacksonville for $54 million. The buyer was Southwood Realty.

The Reserve at Jacksonville Commons, which has 384 units, was built in the early 2000s and features one-, two- and three-bedroom apartments. Monthly rents range from $1,215 to $1,595, with sizes from 840 to 1,340 square feet.

Amenities include a pool with a grilling station, an outdoor fire pit, a gourmet coffee bar and fitness centers with free weights and cardio machines. Outdoor amenities include a playground, lighted tennis courts, and two leash-free dog parks for your furry friends.

Blue Ridge has developed more than $2 billion of projects, including 11,500 apartment units. 

Southwood owns more than 100 properties across Virginia, Tennessee, Georgia, North Carolina and South Carolina. Southwood’s North Carolina properties are in Asheville, Burlington and Concord, among other places.

Related Group has broken ground on the Southbank Residences, a 25-story mixed-use development along Jacksonville’s St. Johns River. This $200 million project marks the first new luxury high-rise along the Downtown riverfront in over a decade. 

Southbank Residences will deliver 395 luxury rental residences across two towers, anchored by a 4,500-square-foot waterfront restaurant and rooftop lounge. A 29-slip marina, public boat ramp and 601 structured parking spaces reinforce the project’s connection to life on the river. The City’s water taxi network will further connect Southbank Residences to entertainment, cultural and sports venues, as well as businesses throughout Downtown Jacksonville.

Construction is scheduled to begin in the next 30 days, and the work will take 30 to 36 months, with a completion targeted for late 2028 to early 2029.

The project is designed by Carlos Ott,and MSA Architects as record architect. Coastal Construction is the lead contractor.

Redfearn Capital secured financing for an eight-building Jacksonville-area portfolio totaling $48 million. Prospect Ridge provided the financing. The portfolio includes a mix of front-load, rear-load and cross-dock industrial buildings near Interstate 95, Interstate 10 and Interstate 295, with access to Jaxport and Jacksonville International Airport.

The properties range from 7,000 square feet to 70,000 square feet.

On its LinkedIn site, the company said: “strong first half of the year for Redfearn Capital– acquiring 12 new assets totaling ~580,000 square feet. RC continues to target value-add industrial deals across the Southeast!”

CBRE’s Jose Lobón, Frank Fallon, Trey Barry and Royce Rose negotiated on behalf of Somerset Properties and CenterSquare Investment Management. 

The Jacksonveille Business Journal reports Jacksonville’s network of interstate, port, rail and airport access remains a core selling point for the portfolio and for the industrial users Redfearn is targeting.

Beachwold Residential inked a $50.5 million first mortgage loan to refinance a 308-unit garden-style apartment community in Jacksonville, FL. The financing was led by Mesa West Capital’s Russell Frahm and Brad McCarthy. The loan was arranged by Taylor Williams of Walker and Dunlop. 

The five-year, non-recourse loan is secured by Gran Bay Apartments, a 308-unit, 2015-vintage garden-style community comprising 14 buildings on 15.5 acres. The property offers a mix of one, two, and three-bedroom units featuring stainless steel appliances, walk-in closets, private balconies, and in-unit washers and dryers. Amenities include a swimming pool, fitness center, business center, grilling areas, fire pits, dog park, and children’s play area. 

Gran Bay Apartments is located at 13444 Gran Bay Parkway in Duval County’s Southside submarket, providing immediate access to Interstate 95 and proximity to Flagler Center, a major employment corridor anchored by Baptist Medical Center and Citigroup’s regional operations campus.

The University of Florida has selected Edgemoor Infrastructure & Real Estate to advance the initial $287.5 million phase of construction on UF’s Jacksonville graduate campus. 

The selection follows a competitive process. Edgemoor is teaming up with partners such as Clark Construction, Auld & White Constructors, OJB Landscape Architecture, HOK, PQH Group Design, England-Thims Miller, Coastal Connections Group and more.

The first new building will anchor the campus in the historic LaVilla neighborhood, where UF is developing a graduate campus. Jacksonville has committed land and significant funding to support the project, including more than 20 acres for campus development and tens of millions of dollars toward construction. 

UF’s Jacksonville campus is expected to open initial programs in existing facilities in 2026, with new construction to follow as the campus expands. The broader vision includes advanced graduate programs in areas such as business, health care and emerging technologies.

Development firm Gateway Jax will restore the Ambassador Hotel with the partnership of The Indigo Road Hospitality Group. Gateway Jax, made up of DLP Capital and JWB Real Estate Capital, manages a private equity fund focused exclusively on Downtown Jacksonville development.

Gateway Jax plans to redevelop the 100-year-old hotel into a minimum of 100-key concept with a restaurant and bar, conference space and other amenities. The Ambassador Hotel site will be integrated into Gateway Jax’s inaugural project, Pearl Square. The eight-block, multi-use development will also include 1,250 new residential units and approximately 200,000 square feet of grocery-anchored retail space, with abundant outdoor dining opportunities. The project’s first building, located at 515 Pearl Street, broke ground in October 2024 and is on track to deliver in 2026. Several other projects within Pearl Square will begin construction in 2025.

Gateway Jax is expected to invest over $2 billion into the Pearl Square development.

A 361-unit property in South Jacksonville sold for $69.6 million, nominally more than the seller paid for it. The Mirage on Kernan at 3601 S. Kernan Blvd. sold for $192,847 per unit. Element Property Company sold the property to Bridge Investment Group. The property last sold for $68 million in May 2022.

The multifamily asset, consisting of 26 three-story buildings, was built in 1996 on 33.9 acres. It offers two-, three- and four-bedroom apartments with two to four bathrooms, ranging from 787 to 1,320 square feet. Rents are between $1,372 and $2,373 per month.

On-site amenities include a dog park and dog wash station, outdoor kitchens, two pools, pickleball and bocce ball courts, package service, fitness center and more.

Bridge Investment Group’s website states, “We embed ourselves in our properties from the moment we acquire them, overseeing capital investment, leasing, operations, maintenance, and capital structure, as well as the enhancement of amenities and resident services.”

Two medical office buildings are being built in a fast-growing section of Jacksonville. The two offices are among 1,000 acres of new homes, parks, trails and lakes being built south of the city.

The Jacksonville Business Journal reports that Onicx Group is planning to build a 50,000-square-foot office building at 11885 Stillwood Pines Blvd. Halo Precision Diagnostics will anchor the facility, occupying the 25,000-square-foot first floor. The two-story medical office building will be joined by another one later. Onicx purchased the 3.6 acres for $2.6 million. Colliers brokers Chuck Diebel and Matt Entriken are leasing the property.

The two-story medical office building will join another medical development within the master-planned community — Baptist HealthPlace at Seven Pines, which broke ground earlier this month.

The 10-acre Baptist project, which is slated to cost $32.3 million, will also feature two medical office buildings—one for primary care and another for a potential surgery center. A Lifetime Fitness Center is also slated to be built in the center.

Affinius Capital originated an $82.3 million loan to finance the ground-up development of Eastport Logistics Park, a to-be-built four-building industrial development in Jacksonville, FL, totaling 890,000 square feet. The loan was provided to a joint venture between InLight Real Estate Partners and an Ares Management Real Estate fund and will be used for the construction and lease-up of the project. 

Eastport Logistics Park will feature four buildings with 32’-36’ clear heights, 135’-185’ truck court depths, 222 dock doors, 418 trailer parking stalls, and 691 car parking spaces. Located just off I-295, five miles from the I-95 interchange and four miles from the Port of Jacksonville, the development will offer seamless connectivity to the broader Jacksonville market and major East Coast port markets, with access to 98 million consumers within a one-day drive. Its location serves the area’s growing e-commerce, logistics, and distribution needs while offering access to adequate labor pools.