MIAMI—Huntington at Hidden Hills, a 224-unit multifamily complex in the East Jacksonville, FL submarket, has changed hands. The sale price was $12.5 million in a deal that offers value-add potential to the new owners.
The ARA Central and North Florida-based sales team, led by senior vice president Matt Wilcox and principals Kevin Judd and Patrick Dufour, represented the sellers, San Francisco-based McDowell Properties and GA-based AREA Properties Partners in the $12.5 million sale. Jacksonville-based Michaelson Group purchased the asset.
“Huntington at Hidden Hills is a prime example of the rebound in the Jacksonville multifamily sector,” Wilcox says. “The asset was last purchased from a distressed situation in 2011.”
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