The Praedium Group Acquires The Point at Town Center in Jacksonville, FL
NEW YORK: The Praedium Group, a New York City-based national real estate investment firm, announced the acquisition of The Point at Town Center in Jacksonville, FL. Chris Hughes, Principal of The Praedium Group, made the announcement of the investment firm's most recent acquisition.
The Point at Town Center presented an opportunity to acquire an institutional quality, garden-style multifamily community in a desirable location adjacent to Jacksonville's largest employment hub (Deerwood Park) and dominant retail center, said Chris Hughes. We believe Jacksonville is rapidly growing and this location, surrounded by over nine million SF of office and retail including Jacksonville's renowned St. John's Town Center, is ideal to ride the growth.
Lindsay Schuckman, Associate of The Praedium Group, added: The Point at Town Center is proximate to many of Jacksonville's largest employers, including Deutsche Bank, Blue Cross Blue Shield, and Johnson & Johnson Vision. Additionally, there are 2,700 specified high-paying jobs coming in the immediate area over the next year, in addition to other unspecified jobs from nearby expansions such as the Mayo Clinic and Deutsche Bank.
The Point at Town Center is centrally located within Jacksonville between the area's major roadways, Turner Butler Boulevard (SR 202), Interstate 95, and East Beltway 295. This location provides attractive visibility and connectivity to major hubs throughout the city, including University of North Florida (16,000+ students) and St. Vincent's Medical Center (3,000 employees), each within 10 minutes of the Property, as well as downtown Jacksonville (15 minutes northwest), the beaches (15 minutes east), and Jacksonville airport (30 minutes northwest).