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.

Wood Partners sold an Antioch apartment complex for $86 million. The firm sold the Corban Farms at Cane Ridge apartment complex to Bonaventure. The complex offers 330 units across multiple buildings that sit on a 39-acre site located at 3144 Old Franklin Road. The transaction is equivalent to around $260,606 per unit.

The Nashville Business Journal reports Wood Partners bought the land in 2021 for $5.75 million and developed the apartments, which opened in 2022.

This is Bonaventure’s first transaction in Nashville. The company is headquartered in Alexandria, Virginia, and does work throughout the Mid-Atlantic and Southeastern United States. The company has been around since 1999.

Wood Partners has acquired and developed more than 100,000 multifamily homes, with a combined capitalization of $21 billion. The company is headquartered in Atlanta and currently owns 80+ properties across the United States, representing more than 25,000 units.

VP Tom Papoulias of Coldwell Banker Commercial West arranged the sale of the Seville Gardens Apartment Community, a 225-unit senior housing apartment complex located at 2701 Randolph St. in Huntington Park The transaction closed at $33,750,000.

Papoulias represented the seller, Seville Gardens, LLC. The buyer, Equity Consultants Equity, Inc., plans to maintain the property as senior housing.

“Seville Gardens presented an excellent investment opportunity with a substantial upside in rents,” said Papoulias. “Pacific Boulevard recently underwent a $4,000,000 beautification project intended to make the street more pedestrian-friendly and attract more shoppers, so there is incredible potential. Area rentals boast very low vacancy rates.”

Seville Gardens was built in 1989 by the seller on a 1.09-acre lot occupying an entire block on Randolph Street between Seville and Stafford avenues, a quarter mile from Pacific Boulevard, Huntington Park’s main commercial thoroughfare. The property is currently under a building covenant that mandates it be used as 55-plus housing, with 20% of units rented to low-income tenants until 2038.