JACKSONVILLE, FL—GoldOller Real Estate Investments LLC is betting on Jacksonville, FL. The firm just acquired Country Club Lakes, a 555-unit multifamily complex in east Jacksonville, for $56 million.
“We are attracted to Jacksonville’s diverse economic base and extraordinary quality of life,” says Jake Hollinger, COO of GoldOller. “We anticipate continued steady economic growth in the region. Country Club Lakes is well located, just minutes from the beaches, fabulous Town Center shopping and the central business district.”
GoldOller’s private open-ended apartment fund, which was launched in January 2010, now holds a portfolio of about 6,500 units located in seven states. The portfolio is valued at about $500 million.
“We love to acquire and operate gems in markets that are often overlooked by others,” says Richard Oller, chairman of GoldOller. “We find that we can achieve superior cash yields from high quality assets in secondary and tertiary markets without taking unwarranted risk.”
In addition to Country Club Lakes, GoldOller owns and operates the Club at Town Center, a 432-unit apartment complex in the Jacksonville’s Southside area, known as Town Center. Both properties will offer GoldOller’s new “Life on the GO” resident services which include onsite fitness classes, nutritional counseling, yoga and more.