Sentinel Real Estate Corporation acquires a 276-unit residential complex in Jacksonville, Florida

0
27

[ad_1]

NEW YORK, August 2, 2021– (BUSINESS WIRING) – Sentinel Real Estate Corporation (“Sentinel”) announced today the acquisition of Bainbridge Town Center East, a 276-unit apartment building in Jacksonville, Florida. Completed just last year, this property offers luxury tenements in the highly popular Southside submarket, which provides direct access to the beaches and downtown Jacksonville. As part of the acquisition, Sentinel will rebrand the ownership of Drift at Town Center East.

“We recognized the opportunity to acquire a newly built, stabilized multi-unit property in a fast-growing market supported by excellent long-term fundamentals,” said Michael Streiker, President of Sentinel. “Drift in downtown Vostok is located in a highly sought-after but extremely limited market, with just one apartment complex expected to be built within three miles of the property in the next two years. This, combined with its optimal location and attractive landscaping, has qualities that, in our opinion, will continue to make real estate a desirable option for the residents of the area. “

Drift at Town Center East is located in the heart of Southside, which is one of Jacksonville’s richest submarkets and features a high quality school system. The property provides easy access to employment centers such as the 18 million square feet Deerwood office park, home to more than 200,000 workers and large tenants including Bank of America, Johnson & Johnson, Florida Blue and JPMorgan Chase. Downtown St. John’s is 1 mile away, a 2.5 million square foot open-air mall with over 175 shops and a variety of dining and entertainment options.

Drift at Town Center East apartments range from one to three bedrooms and have wood floors in kitchens and living rooms; modern kitchens with designer white cabinets, ceramic tile aprons, quartz countertops and stainless steel appliances; washing machines and dryers; dressing rooms; private balconies or patios; and smart thermostats with touchscreen. Public amenities include a saltwater pool, sun deck and cabanas; a lounge area by the pool with a dining area, a grill and a place for a fire; hammock grove; 24-hour fitness center; yoga studio and personal gym; shared lounge with internet cafe; games room with shuffleboard and billiards; an outdoor club with a fireplace and a view of the pool; dog park; exercise track; and lake view with grill and seating area.

Over its 51-year history, Sentinel has acquired a national portfolio of multi-family properties on behalf of local and international organizations. The firm will continue to use its market experience and close industry links to identify attractive investment opportunities throughout the region.

About Sentinel Real Estate Corporation

Founded in 1969, Sentinel Real Estate Corporation is an independent real estate investment management firm based in New York City. The company currently manages $ 7.8 billion in institutional quality properties on behalf of over 100 local and international clients. Sentinel has offices in the USA, Amsterdam, Germany, Australia and Singapore. The company currently has a portfolio of over 26,000 apartments and 5.5 million square feet of commercial real estate. Sentinel operates on a vertically integrated platform with 750 employees to handle all stages of the investment process, including on-site property management. For more information on Sentinel visit www.sentinelcorp.com

See the original version at businesswire.com: https://www.businesswire.com/news/home/20210802005372/en/

Contacts

Media contacts:
ICR on behalf of Sentinel
Sentinel@icrinc.com

[ad_2]

Source link