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Tellus Partners close on 39.9-acre property with plans for multifamily

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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.

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Bradley Coe

Senior Director

Jacksonville

Dating back to 1996, Bradley has fostered a successful career in multiple facets of the multifamily investment sector inclusive of brokerage, acquisitions, dispositions, development, construction and property management.  Bradley’s expertise includes multifamily investment sales and services, multifamily land acquisition and sales, land and development analysis, sourcing and placement of equity and debt for real estate transactions, and facilitating the formation of joint-ventures.  Bradley specializes in providing best-in-practice multifamily investment services with emphasis directed toward effectuating successful dispositions of income-producing multifamily assets within the Jacksonville MSA.

As a member of the Southeast Multifamily Advisory Group, Bradley brings high-intensity and a client driven value-add approach to the overall multifamily investment sales and advisory platform.  Bradley directs focus on client expectations and generates plausible strategies and solutions to attain the desired objectives.   

 

 

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Matthew McCarthy

Director

Jacksonville

As a licensed Broker and member of the  North Florida Multifamily Investment and Land Services Team, I bring a client focused, value-add approach designed to exceed client expectations.

In this capacity, I am involved  in all aspects of the deal process including client engagement, asset valuation/underwriting, financial modeling, market research, due diligence, property tours and facilitation of client communication. My goal is growing the Multifamily Investment Sales Platform and the Team’s market presence by providing first class services in Jacksonville and tertiary markets throughout  North Florida.

As a Jacksonville resident for over 20 years, I have seen Northeast Florida grow substantially. Working in the real estate industry provides me with an opportunity to assist in that growth. For over 10 years I have assisted owners, investors and developers with the acquisition and disposition of real property.

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