TALLAHASSE, FL-Jackson Square Apartments, a 242-unit class A garden community in Tallahassee’s Thomasville submarket, has traded for $21.7 million. The property is 95% occupied. ARA Central Florida-based principal, Kevin Judd and vice presidents Patrick Dufour and Matt Wilcox represented the TIC seller in the deal.

The sheer number of people involved in the decision process can make TIC sales challenging. In the Jackson Square deal, the TIC included 40 individual investors who had to approve the sale. Wilcox tells GlobeSt.com that the asset was a strong performing deal in an A location, so from the beginning patience and persistence were key, along with clear communication to the buying community.

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