MIAMI – Lloyd Jones Capital, a Miami-based multifamily investment firm, has acquired the Deerwood Park apartment community in Jacksonville, Florida. The property is located in the Deerwood Office Park on Touchton Road, home to 5.2 million square feet of office space and the largest employers in the MSA. Residents of Deerwood Park enjoy an address that offers a live, work and play lifestyle in Southside, one of Jacksonville’s most desirable neighborhoods.
The 282-unit acquisition brings the Lloyd Jones Capital multifamily portfolio to nearly 5,000 units spread across Texas, Florida, and the Southeast.
“We are elated with the acquisition of Deerwood Park. Jacksonville is a key market for us and Deerwood Park is a value-add asset with tremendous upside opportunity,” commented Chris Finlay, chairman and CEO of Lloyd Jones Capital. “Lloyd Jones Capital plans to enhance the property with a value-add program that we anticipate will yield rent and occupancy growth for our investors.”
Built in 2002, the gated property offers one-, two-, and three-bedroom apartments with highly sought-after amenities including attached garages, a resort luxury style pool, outdoor kitchen with gas grills and a dog park.
Deerwood Park will be managed by Finlay Management, the operations group at Lloyd Jones Capital. Finlay Management is an Accredited Management Organization (AMO®) as designated by the Institute of Real Estate Management (IREM®) and has a 37-year history in the industry.
About Lloyd Jones Capital
Lloyd Jones Capital is a private-equity real estate firm that specializes in the multifamily sector. With 37 years of experience in the real estate industry, the firm acquires, improves, and operates multifamily real estate in growth markets throughout Texas, Florida, and the Southeast. Lloyd Jones Capital provides a fully integrated investment/operations platform. Its property management arm partners with the investment team to provide local expertise in each of its markets.
Headquartered in Miami, the firm has offices throughout Texas, Florida, and the Southeast, plus New York City. The firm’s investors include institutional partners, private investors, and its own principals. For more information visit: lloydjonesdev.wpengine.com.