Emerson Arms Apartments Ltd. of Jacksonville sold the 200-unit Sable Palms Apartments on Dec. 15 to Sable Palms Preservation LP of New York for $27.5 million.
The government-subsidized apartment community is on 13.5 acres at 2150 Emerson St. The unit price is $137,500.
Sable Palms Preservation received a tax-free mortgage of $35.384 million from Jacksonville Housing Finance Authority.