Michaelson Real Estate Group, LLC and a private equity investor acquire Deerfield Apartments

Michaelson Real Estate Group, LLC and a private equity investor have acquired Deerfield Apartments, a 256-unit multi-housing community in Jacksonville, Florida. The asset enjoyed 94% occupancy at the time of purchase.

Built in 1989, Deerfield features a mix of one, two and three-bedroom apartments in six different floor plans with an average size of 914 square feet. On-site amenities include a social lounge with fireplace, clubhouse, pool, sundeck, business center and state of the art fitness center. Located on Lane Avenue South, the property benefits from its prime location in proximity to downtown Jacksonville, Florida State College, Jacksonville International Airport, NAS Jacksonville, and Interstates 10 & 295.

The property is scheduled to undergo $1 million in capital improvements. These improvements include common area furniture, fitness center equipment, internet upgrades, exterior painting, upgraded flooring and appliance replacement.

Michaelson Real Estate Group, LLC will manage the property. Michaelson specializes in enhancing multifamily values through marketing, management and repositioning. Michaelson has managed more than 30,000 apartment and condominium units throughout the Southeast.

For further information please contact:

Michaelson Real Estate Group

Michael Moses | mmoses@michaelsongroup.com  904-880-0000