The 200-unit Avenue at Timberlin Park apartments in South Jacksonville sold July 31 for $33.8 million.
The community is at 7635 Timberlin Park Blvd., near the Timberlin Village and Southside Square shopping centers. It is about 1.4 miles north of The Avenues mall.
The buyer was New York-based Bluerock through BR Timberlin Park LLC. Bluerock calls itself an “institutional alternative asset manager” with $18 billion in assets.
The seller was Bridge Partners of Walnut Creek, California, through Bridge-Ave Royale LLC.
The buyer received a $23.66 million mortgage July 31 from Walker & Dunlop LLC of Bethesda, Maryland.
The 13-building community, built in 2001, is on 26 acres. The per-unit sales price is $169,000.
Avenue at Timberlin Park features one- two- and three-bedroom apartments with one or two baths. Units are from 723 to 1,582 square feet. Rents are $1,526 to $1,947 per month, according to apartments.com.
The community has controlled access, a fitness center, pool, clubhouse, business center, lounge, sundeck and grill. Management and maintenance are on-site.
Bridge Partners bought the apartments from Barings Real Estate Credit Strategies of Hartford, Connecticut, in 2015 for $25.526 million.