The 216-unit Topaz Gardens apartments at 7350 Blanding Blvd. in West Jacksonville sold Jan. 21 for $20.3 million.
The buyer is GMC Properties of Jacksonville through GMC Oakview Landing LLC.
Topaz Capital Group of Bay Harbor Islands sold the community through Horn Topaz LLC and Topaz Gardens JAX BH LLC. The per-unit sales price is $93,981.
CBRE Capital Markets Inc. of Houston issued a $16.173 million mortgage.
Berkadia Central & North Florida led the transaction on behalf of the seller.
Topaz Capital recently completed a $1.9 million capital expenditure program, renovating 86 units to a higher standard and fully renovating an additional 130 units.
The 12.64-acre community comprises 22 two-story buildings and a clubhouse built in 1974.
There are one-, two-, three- and four-bedroom units with one or two full baths. The 990-square-foot two-bedroom has one-and-a-half baths. Apartments are 534 to 1,414 square feet. Rents are $956 to $3,155, according to Apartments.com.
Apartments have either a patio or a balcony.
Berkadia reports that the apartments are 91% occupied.
Amenities include a pool, fitness center, playground, laundry facility, picnic area and dog park.
Topaz Capital Group bought the property for $18.75 million in September 2020.