JACKSONVILLE, FL – Sentinel Real Estate Corporation announced the acquisition of Bainbridge Town Center East, a 276-unit apartment building in Jacksonville, Florida. Completed only last year, the property offers luxury multi-family living in the coveted Southside submarket, which offers direct access to the beaches and downtown Jacksonville. As part of the acquisition, Sentinel will rename the property Drift at Town Center East.
"We recognized the opportunity to acquire a newly built, stabilized apartment building in a high-growth market that is supported by excellent long-term fundamentals," said Michael Streicker, President of Sentinel. “Drift at Town Center East is in a very sought-after but highly supply-restricted market, with only one more multi-family community within five kilometers of the property expected to be delivered over the next two years. This, combined with the optimal location and the attractive furnishings, offers qualities that we believe will continue to make the property a desirable option for the residents of the region. "
The Drift at Town Center East is in the heart of Southside, one of Jacksonville's more affluent submarkets with a quality school system. The property offers easy access to work centers such as the 18 million square foot Deerwood Office Park, which is home to more than 200,000 workers and prime tenants such as Bank of America, Johnson & Johnson, Florida Blue, and JPMorgan Chase. One mile away is St. Johns Town Center, an open-air shopping mall measuring 2.5 million square feet with more than 175 stores and a variety of dining and entertainment options.
Apartments at Drift at Town Center East range from one to three bedrooms and have hardwood floors in the kitchen and living room; modern kitchens with white designer cabinets, ceramic tile backs, quartz countertops, and stainless steel appliances; Washing machines and dryers; Walk-in closets; private balconies or terraces; and touchscreen smart thermostats. Communal facilities include a saltwater pool with a sundeck and cabanas; a poolside lounge area with a dining pavilion, grills, and a fire pit; a hammock grove; a 24-hour fitness center; a yoga studio and a private exercise room; a communal lounge with a cyber café; a game room with shuffleboard and billiards; an outdoor club room with a fireplace and pool views; a dog park; an exercise trail; and a lake view with grills and a seating area.
In its 51-year history, Sentinel has acquired a national portfolio of multi-family properties on behalf of national and international institutions. The company will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities across the region.
Source: Sentinel real estate