New York investor W.P. Carey Inc., through Flipper (FL) LLC, bought the new Jacksonville University residential hall north of the Arlington campus.
W.P. Carey paid $17.5 million for the five-acre property in a deed executed Jan. 8. It bought the property from Dolphin Dorms LLC, whose manager is Rimrock Devlin Dorms LLC.
The deed was recorded Tuesday with the Duval County Clerk of Court.
Rimrock Devlin bought the land in July 2014 and developed the four-story, 274-bed residential North Hall.
JU says it will continue to be the tenant in the building and will administer the dorm as it does with its other residential halls in operating and maintaining the facility.
The hall, used by first-year students, was built as a three-wing 70,000-square-foot project. Students moved in last fall.
W.P. Carey is a global real estate investment trust. A spokesman said the publicly traded company had no comment Tuesday but expected to make an announcement this week.
The company invests in commercial properties domestically and internationally. It earns revenue principally by leasing the properties it owns to single corporate tenants.
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