Sundance Point

Description

A 288-unit LIHTC property, built in 2001, located in Jacksonville, Florida. The application process for transition to market has begun. Property will steadily shed its rent restricted units over the next 3-4 years.
Interest-only variable rate financing is also terminating in 3 years. Options exist for disposition at a lower cap rate, following completion of transtion to market.

City
Jacksonville
State
Florida
Aquisition date
February 2016
Number of units
288
Surface area
27252 m2
Fair value
14.5 Mio USD