Element Property Company Acquires Student Housing Community in Jacksonville for Conversion to Conventional Apartments
JACKSONVILLE, FL - Los Angeles-based Element Property Company has acquired Kernan Oaks apartments in the Southside submarket of Jacksonville, Florida, with plans to convert the community from a 70/30 mix of traditional apartments and student housing/co-living into 100% conventional market-rate apartments. Element has implemented a similar conversion strategy at two other properties. The 361-unit garden apartment community was built in 1997. It’s highly amenitized with two resort-style...
Source: multifamilybiz.com