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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