NAI Hallmark Brokers Sale of Cedar Hill Apartments

NAI Hallmark has brokered the sale of Cedar Hill Apartments, a 113-unit multifamily property in Jacksonville, FL for $14,450,000. 

The multifamily asset was built in 1966 and recently underwent significant capital improvements. Units range in size from studios to three-bedrooms in eight buildings on 5.35 acres. The property is located in the Westside submarket of Jacksonville along I-295.

Senior Vice President John Rutherford and Vice President Luke McCann, brokered the transaction on behalf of a joint venture partnership between Westmount Square Capital & Miramar Capital, the Seller.

“NAI Hallmark is pleased to have represented Westmount Square Capital & Miramar Capital in the sale of Cedar Hill Apartments,” said Senior Vice President John Rutherford of NAI Hallmark.” This sale is an example of the continued flight of investors to Southeast markets such as Jacksonville, Florida that offer the opportunity for stable occupancy and consistent rent growth.”