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Ocala Multi-Housing Community Sells For $70.6 million

JLL Capital Markets recently finalized the sale of a large multi-housing community in Ocala.

Grand Reserve Apartment Homes, a multi-housing neighborhood in the seat of Marion County, has sold for just north of $70 million. The community consists of 263 individual units, standing two stories tall, nineteen separate buildings, and an assortment of one bedroom, two bedroom and three bedroom units, with an average of more than 1,000 square feet.

The recently renovated units each consist of walk-in closets, granite countertops, breakfast bars, full-sized washers and dryers, screened patios, and appliances made of stainless steel. Among the litany of amenities the community offers its residents include a pool area complete with a gazebo and TV, direct access garages, a fitness center that is open for 24 hours a day, a business center, and a playground for residents' children.

The property's official address is listed at 3001 SW 24th Ave in Ocala, FL. Grand Reserve Apartment Homes is located adjacent to I-75, giving residents easy access to the rest of the Sunshine State, and is situated about four miles away from downtown Ocala.

JLL Capital Markets also set up the debt and equity financing arrangements, which altogether totaled about $65 million.

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