Trei Real Estate and its local joint-venture partner Chance Partners have acquired a development site in Jacksonville, Fla.
Construction of a four-story multifamily project with 290 apartment homes and 383,324 square feet is scheduled to begin in October 2022. Community amenities will include a swimming pool, two courtyards, a fitness center and a dog spa. The project is being designed by Dynamik Design, an architectural firm based in Atlanta. The expected total investment is approximately $64 million.
“We are fortunate to have the opportunity to partner with Chance Partners, an experienced and reputable developer, on this project,” said Chris Helsabeck, managing director of Trei Real Estate USA. “This will be Trei’s first investment in the state of Florida, and we were drawn to the site’s convenient access to the retail amenities at River City Marketplace and the submarket’s diverse and growing job base.”
Pepijn Morshuis, CEO of Trei, added, “Th
