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Real Estate - DECEMBER 5, 2018

Carter Multifamily expands Florida presence

by Released

Carter Multifamily has acquired the 160-unit Laurel Pointe Apartments for approximately $13 million. Laurel Pointe is located at 3000 Coronet Lane in Jacksonville, Fla.

A seller was not disclosed.

“We are pleased to expand our footprint in the Jacksonville market with the acquisition of Laurel Pointe,” said Cindy Pfeifer, CEO of Carter Multifamily. “The property benefits from its close proximity to the downtown area, central business district, and is located less than one mile from another Carter Multifamily property, Peppertree Lane. This allows the two properties to share resources, create operational efficiencies, and enhance on-site management, which residents should benefit from.”

Carter Multifamily intends to reposition Laurel Pointe. Renovations will include updates to apartment home interiors and common areas, including the pool, playground and recreational areas. There are also plans to add a fenced-in dog park, athletic field, Internet café and added outdoor gathering areas.

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