The 484,000-sf garden-style apartment community was built in two phases along Atlantic Boulevard here. Phase I, comprised of 368 units, was completed in early 2003. Phase II, comprised of 120 units, completed construction in mid-2004. At the time of financing, the Enclave was nearing completion of lease-up of the second-phase units, according to the lender.
Tom Fish, Holly Minter and Mike Melody of LJ Melody & Co.'s Houston office brokered the transaction. "The Enclave's location and proximity to major thoroughfares affords residents effortless access to Jacksonville's largest roadways, pristine beaches and major employment hubs," says Melody.
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