News Summary
The Edenfield Shores apartments, a 332-unit community in Jacksonville, were sold to EMET Capital Management for $37 million. The sale, executed by Miramar Capital using multiple LLCs, reflects market trends with a price of approximately $111,445 per unit. Features include various amenities and a prime riverside location. EMET Capital aims to expand its investment in the Jacksonville area, enhancing the local real estate market appeal.
Jacksonville—The Edenfield Shores apartments, a 332-unit residential community located at 5885 Edenfield Road in Arlington, were sold on August 8 for $37 million. This property transaction was executed by Miramar Capital of Los Angeles, which used seven limited liability companies (LLCs) for the sale.
The buyer, EMET Capital Management, based in New York, finalized the acquisition through its subsidiary, EMRES III Jacksonville LLC. EMET Capital specializes in investing in distressed properties and currently manages a portfolio of $600 million in assets.
Edenfield Shores, constructed in 1975, is a sizable community spread over 26.6 acres along the scenic St. Johns River. The complex features 15 three-story apartment buildings that contain various unit types—including one-, two-, and three-bedroom apartments—ranging in size from 578 to 1,544 square feet.
The sale price translates to approximately $111,445 per unit, positioning it as a noteworthy investment within the current real estate market. As reported by Apartments.com, rental prices at Edenfield Shores vary from $899 to $1,925 per month, making it accessible to a range of potential tenants.
Community Features
Edenfield Shores boasts numerous amenities designed to enhance residents’ quality of life. These include:
- Two swimming pools
- A clubhouse for social gatherings
- High-speed internet and Wi-Fi throughout the property
- A dog park for pet owners
- A picnic area equipped with grills
- A playground for families
- Sports courts for recreational activities
Several apartments within the community also offer picturesque views of the river, adding to the living experience.
Transaction Details
Miramar Capital acquired Edenfield Shores in October 2021 for $45.1 million, indicating a decrease in property value following its recent sale. The ownership breakdown within the LLCs involved in the transaction includes:
- MW Reserve at St. John’s 1 LLC: 14.24%
- MW Reserve at St. John’s 2 LLC: 5.08%
- MW Reserve at St. John’s 3 LLC: 13.28%
- MW Reserve at St. John’s 4 LLC: 8.30%
- MW Reserve at St. John’s 5 LLC: 2.66%
- MW Reserve at St. John’s 6 LLC: 4.98%
- MW Reserve at St. John’s 7 LLC: 51.46%
Location and Accessibility
The Edenfield Shores community is strategically located just 7 miles northeast of Downtown Jacksonville and 2.6 miles from Jacksonville University. Its proximity to Reddie Point Preserve offers residents additional opportunities for outdoor recreation.
This transaction signifies EMET Capital Management’s continued interest in expanding its portfolio in the Jacksonville area, reinforcing the city’s appeal in the real estate market.
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Additional Resources
- Jax Daily Record: Edenfield Shores Apartments Sold
- Wikipedia: Jacksonville, Florida
- First Coast News: Charged with Murder
- Google Search: Jacksonville real estate market
- First Coast News: Deadly Apartment Shooting
- Google Scholar: Real estate investments in Jacksonville
Author: STAFF HERE JACKSONVILLE WRITER
The JACKSONVILLE STAFF WRITER represents the experienced team at HEREJacksonville.com, your go-to source for actionable local news and information in Jacksonville, Duval County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Jacksonville Jazz Festival, Riverside Arts Market, and World of Nations Celebration. Our coverage extends to key organizations like the Jacksonville Chamber of Commerce and JAXUSA Partnership, plus leading businesses in logistics, healthcare, and entertainment that power the local economy such as CSX Corporation, Baptist Health, and VyStar Credit Union. As part of the broader HERE network, including HEREOrlando.com, HEREStPetersburg.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
