JACKSONVILLE, FL, USA, July 7, 2021 /EINPresswire.com/ — Navarino Property Group and Mayfair Investment Partners have acquired San Jose Apartments. Built in 1974, the property is composed of 38 spacious residential units located just 8 miles south from downtown Jacksonville. ResProp Management was selected to provide full-service property management for the San Jose Apartments.
San Jose is a garden-style apartment community featuring 1 and 2 bedroom apartments. The two-story surface-parked property has units averaging close to 1000 Square Feet. The property has a fitness center and convenient on-site parking options. The neighborhood, best known for being home to the San Jose Country Club and near the Saint Johns River, has multiple restaurants, grocers, and stores along Powers Avenue and Saint Augustine Road.
Luke Leins, Director of Business Development, states, “San Jose is an excellent opportunity for ResProp to showcase our flexible staffing models and Centralized Support capabilities to efficiently run deals of this size. Doing it with our friends and clients at Mayfair and Navarino makes the opportunity even more exciting.”
With the recent addition of the San Jose Apartments to the portfolio, ResProp Management now manages 829 units in Jacksonville, and over 3800 units across Florida. This latest addition was made possible through the partnership with Navarino Capital Management LLC.
About ResProp Management: Since 2010, ResProp has managed over 17,000 apartment homes throughout Florida, Texas, Arizona, and Colorado. ResProp will continue to relentlessly pursue our aim to be the premier service to property owners of residential real estate in target markets into 2021. ResProp is a third party property management company with in-house expertise spanning acquisition, financing, asset management, property management, and construction management capabilities.
About Navarino Property Group: Navarino, founded in 2009, is the investment partnership arm of a 2nd generation Connecticut multifamily owner/operator with over 35 years of combined multifamily experience. Navarino’s principals have owned over 2,000 units in more than 40 properties. While managing the portfolio and disposing of select assets during the last cycle, Navarino is currently redeploying capital and acquiring multifamily properties in Connecticut, Rhode Island, and Florida.
About Mayfair Investment Partners: Founded in 2013, Mayfair is a real estate owner/operator which seeks value-add investments and long-term asset appreciation of all real estate asset classes. Florida and New York are the firm’s main areas of focus, with a proclivity towards emerging and gentrifying neighborhoods with excellent transportation access. Mayfair’s principals have been involved in real estate transactions totaling more than $3 billion in total transaction value.
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