The Real Deal Miami

Miami firm pays $40.8 million for Jacksonville apartment complex

Lloyd Jones Capital paid about $145,000 per unit for the 282-unit Deerwood Park rental complex
November 18, 2017 12:00PM

Deerwood Park apartments in Jacksonville

A Miami firm acquired a 15-year-old apartment complex in Jacksonville for $40.8 million, the Jacksonville Times-Union newspaper.

Lloyd Jones Capital, a Miami-based rental property investment firm, acquired the 282-unit Deerwood Park complex for about $145,000 per apartment.

A spokeswoman for Lloyd Jones Capital told the Times-Union that the firm plans to remodel the clubhouse at Deerwood Park and upgrade apartment interiors.

Lloyd Jones owns to other Jacksonville-area apartment complexes called The Meeting House at Collins Cove and Laurel Pointe.

In a press release, Lloyd Jones said its latest apartment-complex acquisition in the Jacksonville area is located in the Deerwood Office Park, which has 5.2 million square feet of office space and houses some of area’s largest employers.

Lloyd Jones also said in the release that its acquisition of the Deerwood Park apartment complex brought to nearly 5,000 the number of apartment units the firm owns. [Jacksonville Times-Union]  — Mike Seemuth