JACKSONVILLE, FL-CB Richard Ellis Group Inc. has completed the sale of an apartment complex in Jacksonville. Mid-America Apartments LP, a Memphis, Tennessee-based real estate investment trust, has purchased Atlantic Crossing, an apartment community consisting of 200 units on Gate Parkway, for $24.1 million, or about $120,500 per unit.
Dhavel Patel and Dan Allen from CB Richard Ellis' Jacksonville office handled the transaction. This is the first apartment community to change hands for above $100,000 per unit since Q4 2007.For the full story, go to Jacksonville Business Journal.
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