Fairstead has acquired the Sable Palms Apartments in Jacksonville, Fla. The financial terms and seller were not disclosed.
The acquisition will preserve and extend the affordability of the 200 units and enable investments in improvements to the apartments, buildings, and outdoor space.
“Preserving our affordable housing stock is a critical strategy to supporting our neighborhoods and ensuring that families can stay in the communities they love,” said Jordan Capellino, director, development at Fairstead. “Fairstead’s acquisition of Sable Palms Apartments will extend the affordability of 200 homes and bring improvements to enhance the lives of residents.”
The Sable Palms Apartments feature 200 one- to four-bedroom units across 29 residential buildings. The campus includes one community building, where the management office is located, as well as two playgrounds, laundry facilities, and parking. Fairstead will preserve and extend the affordability of thes
