JACKSONVILLE, FL—Behringer Harvard just acquired Wimberly at Deerwood, a 312-unit multifamily community in Jacksonville, FL. The deal comes at the heels of GoldOller’s $56 million Jacksonville acquisition.
Wimberly at Deerwood is located at 9727 Touchton Road, just off Southside Boulevard (State Road 115). That’s close to the Jacksonville International Airport, Interstate highways, and major employment centers.
“We believe that Wimberly at Deerwood is a well-leased asset that offers stable cash flow and attractive upside potential,” says Michael O’Hanlon, CEO of Behringer Harvard’s Opportunity Platform. “Over the next few years, we intend to make incremental interior and exterior improvements that will further enhance the appeal of this popular community.”
The portfolio of Behringer Harvard Opportunity REIT II acquired the multifamily community through a joint venture with ApexOne Investment Partners, a Houston-based real estate investment firm. Behringer Harvard Opportunity REIT II is the controlling partner.
Behringer reports a economic base, young and energetic population and a high quality of life have contributed to Jacksonville’s substantial growth in recent decades. Jacksonville has one of the largest military presences in the nation and is a transportation hub boasting a deepwater port, four airports, three seaports, a highway system that links the city to three major interstates, and a rail system served by three railroads.
Wimberly at Deerwood offers apartments with one, two or three bedrooms; nine-foot ceilings; wood flooring in kitchens and entryways; full-size washers and dryers and an average unit size of 914 square feet. Community amenities include a swimming pool, fitness center, business center, 60-person theater room and courts for sand volleyball and basketball.