The Kensley Apartment Homes, a 300-unit value-add apartment in West Jacksonville, has traded for $47 million. The New York-based Collins Group acquired the property, which is located at the intersection of Interstate 295 and Collins Road. The seller of was a fund managed by New York-based DRA Advisors.
CBRE's Cliff Taylor and Joe Ayers represented the seller in the transaction.
West Jacksonville is now among the strongest rent growth submarkets in the city, according to Taylor, following the opening of the new interchange at Collins Road and the I-295 Beltway when rents began to escalate rapidly.
Recommended For You
"The creation of a new access point, followed by new retail services like Costco, served to create a dynamic rental pocket where residents want to live," he said in prepared remarks.
Built in 2004, the property consists of a mix of studios and one, two and three-bedroom floorplans with 9-foot ceilings throughout. Community amenities include a swimming pool, sun deck, dog park, fitness center, clubhouse, and coffee bar.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
