Pointe Parc
Pointe Parc is a 360-unit, Class B multifamily property located in Jacksonville — one of the fastest growing cities in terms of population, job, and economic growth. Pointe Parc was sold in 2019.
Property Specs
PROPERTY NAME
Pointe Parc
PROPERTY STYLE
Garden Style Multifamily
PROPERTY AGE
1985
NO. OF UNITS
360
LOCATION
Jacksonville, FL
ACQUISITION DATE
2016
TOTAL TRANSACTION SIZE
$34.2M
SPOKE INVESTOR EQUITY
$8.9M
We acquired Pointe Parc at St. John’s in an off-market transaction alongside our joint-venture partner whose key principals have operated in the Jacksonville market for more than 20 years. Jacksonville continues to represent one of the fastest growing cities in terms of population, job, and economic growth.
Pointe Parc’s repositioning to a Class B asset (from B-) involved site improvements and “light” interior renovations, which were directed towards enhancing its tenant’s living experience. The acquisition of Pointe Parc is consistent with Spoke’s strategy to partner with best-in-class operators who target investments located in geographic areas that exhibit strong population and economic growth.
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