Bradley Coe and Matt McCarthy brokered the sale
Nearly 40 acres of land in St. Johns County sold for $4.75 million last week, and the buyers are planning to develop a 312-unit apartment complex on the property.
Tellus Partners, through affiliate VCP St. Augustine LLC, purchased the 39.9-acre property from Southglen Inc. on Feb. 18. Colliers International’s Bradley Coe and Matthew McCarthy brokered the deal.
“The expectation is that Tellus Partners will attain considerable success with this project based on the continued demand for rental housing options, the uniqueness of their product design and its strategic location,” said Coe in a press release.
Located at 2001 Moultrie Road, the development will feature 12 three-story residential buildings, with a unit mix of 156 one-bedrooms, 144 two-bedrooms and 12 three-bedrooms. Square footage of the units range from 754 to 1,311 square feet.
“Tellus will be offering future residents with a high-end rental living option that provides open concept floor plans, high-end finishes and designer touches,” Coe said. “The property is strategically located within this sector of the St. Augustine community and is a short commute to the U.S. Highway 1, SR 312, and Anastasia Island.”
Community amenities are slated to include a clubhouse, resort-style pool, barbecue area, dog park, fitness center and more.