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Jax condo complexes within the information once more with two extra huge gross sales

Tampa real estate investor Carter Funds has sold The Oaks on Monument and Laurel Pointe for a total of $49 million.

The two garden-style multifamily properties sold June 10 and were owned by Carter Multifamily, a Carter Funds company, according to a news release. They were purchased in 2018 for a combined $36.2 million.

Exterior and interior unit renovations were completed, value-add improvements were done to common areas, and outdoor amenities were added, such as a pet park at Laurel Pointe and upgrades to The Oaks on Monument’s fitness center, the release states.

The company said it focuses on buying income-producing affordable Class B/C apartment projects in the South.

“The sale of these middle-market properties exemplifies our Carter Multifamily value-add investment strategy and the results we aim to achieve for our investors,” Chief Investment Officer Ray Hutchinson said in the release. “During our ownership of these two properties, Jacksonville has ranked in the top five for rent growth among markets with over 1 million residents.”

For more information, visit CarterFunds.com.

Just in time for summer, the Splash and Spray parks at Nocatee received an upgrade, with new features for families, as well as adults wanting a separate place to play.

In other news:

● Nocatee’s Splash and Spray Water Parks just got an upgrade, with a new family pool, adventure slides and “adult enclave” now available to residents and their guests, according to community master developer The PARC Group.

A beach-entry swimming pool and new slides featuring the Twin Falls dueling head-first mat slide and a two-person tube slide are now open at the Spray Park, according to a news release. Users of both must be at least 42 inches tall.

Meanwhile, family swimming pool Serenity Bay graces the entrance to the Spray Water Park, with shallow-water seating and a beach entry.

The Splash Water Park’s adult enclave is for residents 21 and older, with an upsized Sundeck restaurant and bar, separate restrooms and access to the bar and concessions, according to the release.

“This exclusive adult oasis allows residents to escape to a quiet area with friends or a good book,” Mo Rudolph, Director of Planning and Development for The PARC Group, said in the release. “The serenity pool also features a beach entry, sun shelf and ample seating to soak in a slice of paradise.”

Nocatee, with more than 9,000 families, offers a range of homes priced from the $400s to more than $3 million. For more information, visit Nocatee.com.

Wildlight in Nassau County will soon embark on a build to rent community. While details of The Hamlet at Wildlight haven’t been released, features of The Hamlet at MidCity in Alabama include more than 200 two- and three-bedroom cottage homes, 36 one-bedroom duplexes, green spaces, community gardens, ponds and a farmers market green at the entrance.

● The Hamlet at Wildlight in Nassau County is one of several build-to-rent communities now in the pipeline from Virginia’s Middleburg Communities.

Including The Hamlet at MidCity in Huntsville, Ala.; The Hamlet at Quail Crossing in Raleigh-Durham; and The Hamlet at Falling Creek in Richmond, Va., the four projects are part a group of Hamlet Home Rentership communities that is expected to eventually total several dozen or more, according to a news release.

Build-to-rent, or B2R, is a relatively new nationwide trend offering new rental homes in sweeping developments to customers who seek privacy and community but who may not desire home ownership due to increased mobility, maintenance burdens, high down payments and financial challenges including student loan debt.

The Hamlet at Wildlight is expected to be about 250 units on 31 acres in Raydient LLC’s overall Wildlight master-planned development, which is along Florida 200 between Interstate 95 and U.S. 17 in Nassau County, according to a May 3 concurrency agreement between Raydient and the Nassau County School District.

“Middleburg is excited to be moving forward with the first of an expected 30 to 35 [Single Family Rental] communities over the next few years,” Middleburg Communities CEO Chris Finlay said in the release. “We plan to be a dominant developer of SFR communities across the Southeast, bringing a completely new SFR design concept and community styling to growing populations of renters in markets in which we have extensive experience.”

More:Apartment complex sales show investors are ‘big believers’ in Jax rental market

More:Build-to-rent is a trend with legs

While details of The Hamlet at Wildlight haven’t been released, features of The Hamlet at MidCity in Alabama include more than 200 two- and three-bedroom cottage homes, 36 one-bedroom duplexes, green spaces, community gardens and ponds and a farmers market green at the entrance, the news release states. A resort-style pool, fitness center, dog park, pet spa and clubhouse are among the amenities that will be accessible to residents.

Each community will use a “Traditional Neighborhood Design” with homes facing outdoor spaces and fronting pedestrian-friendly, tree-lined streets. For more information, visit liveatthehamlet.com.

● A Gold Award has been given to PulteGroup in the latest Northeast Florida Parade of Homes, recognizing its Ashby model at Bradley Pond in North Jacksonville.

The Parade of Homes showcases home innovation and design and is hosted by the Northeast Florida Builders Association.

“Our newest community in North Jacksonville offers large homesites, a collection of new home designs and a convenient location near recreation areas,” Anastasia Prizzia, Director of Sales of PulteGroup’s Northeast Florida Division, said in a news release.

Pulte Homes received a gold award in the Northeast Florida Parade of Homes for its Ashby model at Bradley Pond.

Homebuyers may choose from seven open-concept water and preserve homesites on 60- and 70-foot lots at Bradley Pond at 4588 Creekside Bluff St., with homes priced from the low-$300s. The community has no CDD fees.

For more information, visit Pulte.com.

● Despite the pandemic, open floor plans are still in high demand among homebuyers, according to a new survey of 48 top experts in the home construction industry by home improvement and remodeling website Fixr.com.

“Whether it be the introduction of multi-use spaces in a home or outdoor living spaces being the most prioritized exterior project, we have seen shifts in trends as we begin to enter a post-pandemic way of living,” the researchers state in a news release.

Findings from Fixr’s Yearly Single-Family Home Trends Report: Construction and Remodeling in 2021 include: nine of 10 experts say open floor plans remain the most popular this year; home offices and extra storage are the most requested additional spaces by homeowners; 94 percent of experts say multi-purpose spaces will keep rising in popularity; half say work flexibility is usually why people are currently buying new single-family homes; and 62 percent agree that Millennials are most concerned about having a healthy home, particularly proper ventilation and water quality.

Email real estate-related news releases, tips and updates to thebuildoutjax@gmail.com. 

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