Behringer Harvard acquires multifamily community in Jacksonville, Florida
Behringer Harvard has acquired Wimberly at Deerwood, a 312-unit multifamily community in Jacksonville, Florida.
Located at 9727 Touchton Road, just off Southside Boulevard (State Road 115), the community offers residents convenient access to Jacksonville International Airport as well as connections to the metro area's interstate highways and major employment centres.
Wimberly at Deerwood was acquired for the portfolio of Behringer Harvard Opportunity Reit II through a joint venture with ApexOne Investment Partners, a Houston-based real estate investment firm. Behringer Harvard Opportunity Reit II is the controlling partner.
"We believe that Wimberly at Deerwood is a well-leased asset that offers stable cash flow and attractive upside potential," says Michael O'Hanlon, chief executive officer of Behringer Harvard's opportunity platform. "Over the next few years, we intend to make incremental interior and exterior improvements that will further enhance the appeal of this popular community."
Wimberly at Deerwood offers apartments with one, two or three bedrooms; nine-foot ceilings; wood flooring in kitchens and entryways; full-size washers and dryers; and an average unit size of 914 square feet. Community amenities include a swimming pool, fitness centre, business centre, 60-person theatre room and courts for sand volleyball and basketball.
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