**Argyle Real Estate Capital Acquires 289-Unit Jacksonville Apartment Community**
Argyle Real Estate Capital has acquired Addison Landing, a multifamily community located in Jacksonville, Florida, from WRH Realty. The transaction was facilitated with a $31.3 million Freddie Mac-backed loan featuring a 10-year term, floating rate, and seven years of interest-only payments.
The loan was originated by Berkadia, with Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler, and Hugo Hernandez from Berkadia’s Boca Raton and Miami offices representing the buyer. Greg Rainey of Berkadia represented the seller, WRH Realty, in the transaction.
Located at 9455 103rd Street, Addison Landing was built in 2007 on a 19-acre site and comprises 289 units spread across 34 two- and three-story garden-style buildings. At the time of sale, the property was 96% occupied. The average unit size is 1,126 square feet, with select residences featuring private fenced yards and lake views.
Community amenities at Addison Landing include a swimming pool with sundeck, an outdoor kitchen and poolside lounge, and a clubhouse equipped with a fitness center.
This acquisition marks another strategic investment for Argyle Real Estate Capital in the Jacksonville rental market.
