JACKSONVILLE, FL - Sentinel Real Estate Corporation announced the acquisition of Bainbridge Town Center East, a 276-unit multifamily property in Jacksonville, Florida. Completed just last year, the property offers luxury multifamily living in the highly sought-after Southside submarket, which provides direct access to beaches and Downtown Jacksonville. As part of the acquisition, Sentinel will rebrand the property to Drift at Town Center East.
“We recognized the opportunity to acquire a.
Drift at Town Center East sale sets record at $301,268 per unit | Jax Daily Record | Jacksonville Daily Record jaxdailyrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jaxdailyrecord.com Daily Mail and Mail on Sunday newspapers.
Bainbridge Companies purchased about half of a 112-acre parcel south of The Avenues mall for $8.45 million Dec. 15 and intends to develop the 372-unit Bainbridge Avenues Walk apartment community.
Avenues Walk is across Philips Highway from The Avenues mall, and is adjacent to northbound lanes of Interstate 95.
The sale of the other half of the property will close in January, said Walker & Dunlop multifamily specialist Bobby Gatling.
Gatling, Brian Moulder and Dhaval Patel, multifamily specialists with Walker & Dunlop, represented the seller, Kimco Realty, in the transaction.
Construction is expected to begin in January. The property is entitled for up to 1,050 multifamily units.