The larger of the two buildings is fully leased, whereas the smaller building is mostly vacant.

TPG Real Estate has acquired the 374,123-square foot class A+ asset, which is located in the Deerwood Park micro-market.

"There was excellent interest across the spectrum, including private, institutional and REIT investors."

"Adding new affordable housing has been a major focus of the bank."

"Jacksonville continues to have an abundance of value-add opportunities coming on market, which has put the metro on the top of many buyer's target lists right now."

The 91,431-square-foot office building sold for $30.4 million, or $332 per square foot.

The project broke ground last October and the first apartment units will be delivered in late 2020.

"Expansion is our main focus at Engel & Völkers Florida right now."