JACKSONVILLE, FL - CBRE announced New York-based Cyclone Investment Group, in a joint venture with Skywood Properties, purchased a three-property multifamily portfolio totaling 842 units across Jacksonville, Fla., for $96 million.
Cliff Taylor and Joe Ayers with CBRE represented the seller, Los Angeles-based Oro Capital Advisors. Jeff Kinney and Phil Rachels of CBRE Capital Markets arranged the three-year bridge financing with Arbor Realty Trust, which was an 80 percent of total costs, LIBOR.