Skip to main content Skip to footer

Canada-Based Investor Pays $118 Million for Orange Park Apartments

Villages at Oakleaf Plantation_Hero Image

The Villages at Oakleaf Plantation in Orange Park sold for $118 million on Dec. 15.

The sale comprises three apartment communities – The Villages of Oakleaf Plantation, Millstone Village and the Gemstone Apartments. 

The apartments were built in phases from 2009 to 2017.

LeClair Management Inc. of Fort Lauderdale sold the properties to Venterra Realty Inc. of Richmond Hill in Ontario, Canada. 

The communities total 512 units with a per-unit sales price of $230,469.

It is the largest single-asset sale for a multifamily community since the 1,112-unit Paradise Island in Jacksonville sold for $120 million in February 2017, according to a news release from Colliers International.

The sale comprises 11 rental buildings on 28 acres at 573 Oakleaf Plantation Parkway and 4190 Plantation Oaks Blvd.

Units are one to four bedrooms at an average size of 1,497 square feet. The three communities were 94% occupied upon the sale.

Shared amenities include a clubhouse, fitness center, playground, basketball and tennis courts, cabana, spa, two swimming pools and walking and bike trails.

Bradley Coe and Mathew McCarthy of Colliers International brokered the sale.

Venterra owns 49 apartment communities of 14,554 apartment units totaling over $2 billion in value across 14 U.S. markets, Coe said in the release.

Read more here


Related Experts

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.   

 

 

View expert

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.

View expert