Nathan Holdings acquires City Ridge Apartments in Jacksonville

Nathan Holdings has acquired City Ridge Apartments in Jacksonville, Florida, for $24.7m. The new owner will rebrand the property as Oaks at Red Bay. Encompassing 15 three-story buildings, the 288-unit asset was built on a 14.7-acre site in 1972. The seller, Opal Holdings, paid $17m for the asset in 2015. Common area amenities include two swimming pools, a fitness center, volleyball court and more than 570 parking spaces. The deal was completed with a $16.1m Fannie Mae loan originated by Prudential Financial.