JACKSONVILLE, FL–NAI Hallmark recently revealed the sale of The Palms at 2800 Apartments at a price of $29 million. The 168-unit multifamily property is located at 2800 University Boulevard South in the Southside submarket of Jacksonville, Florida.
Senior Vice President John Rutherford and Vice President Luke McCann brokered the transaction on behalf of Quad Property Group, the seller.
"NAI Hallmark is pleased to have represented the seller and buyer in the transaction of The Palms at 2800. The property is in a premier location within the Southside submarket, central to four of the five major hospital systems, and offers the opportunity to further the proven interior value-add program," says Rutherford in a prepared statement.
Recommended For You
He adds that "The sale further shows the investment market's demand for well-located assets with continuous rent growth upside."
According to Jariel Bortnick, a principal at Quad Property Group, "In just three years, we were able to execute our business plan and optimize the Property's position in the market. We are pleased to capitalize on The Palms at 2800's strong operating performance and provide a robust return for our equity investor."
Situated on 8.62 acres, the multifamily asset was built in 1971 and consists of 168 units in 18 two-story buildings comprised of one-bedroom apartments and two-bedroom townhomes. Residents at The Palms at 2800 enjoy amenities such as two swimming pools with cabanas, picnic area with bbq grills, a new fitness center, pet park, hammock park, and recently renovated clubhouse.
© 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.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
