Palatine Capital Partners Acquires Atlantica Apts. at $55k/u – CoStar Group

Palatine Capital Partners Acquires Atlantica Apts. – CoStar Group.

From CoStar:

Helicon Holdings sold the 100-unit Atlantica multifamily complex to Palatine Capital Partners for $5.5 million, or approximately $55,000 per unit.

The 87,896-square-foot apartment community consists of two bedroom units in eight buildings. It was built in 1987 in Jacksonville’s North Beach multifamily submarket. At the time of sale, the property was 98% occupied.

The Marcus & Millichap team of Gordon Navarre, Christopher Futo, Earl Elliott and Allan Holbrook were the exclusive agents in the deal.

About Ernie Saltmarsh

Ernie works for Colliers International in the Northeast Florida Investment Services Group. The team includes Robert Selton, Scott Rogers, Ernie Saltmarsh and Adrienne Miller. Ernie works with buyers who are looking to invest in commercial real estate and sellers who are looking to dispose of investment assets. Ernie's background in research, marketing and finance provide the vital skills necessary to serve his clients.

Posted on March 6, 2014, in Multifamily, Transactions and tagged , , , . Bookmark the permalink. Leave a comment.

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