PHILADELPHIA, PA - Philadelphia's GoldOller Real Estate Investments, LLC announced the acquisition of Country Club Lakes Apartments, Jacksonville, FL for $56 Million Dollars.
Country Club Lakes, a 555 unit complex located in the East Jacksonville section of the City, is part of GoldOller's private open-ended apartment fund. The fund, which was launched in January 2010, now consists of a portfolio of approximately 6,500 units located in seven states, valued at approximately $500 Million.
According to Richard Oller, GoldOller Chairman, "We love to acquire and operate gems in markets that are often overlooked by others. We find that we can achieve superior cash yields from high quality assets in secondary and tertiary markets without taking unwarranted risk."
Jake Hollinger, GoldOller COO said, "We are attracted to Jacksonville's diverse economic base and extraordinary quality of life. We anticipate continued steady economic growth in the region. Country Club Lakes is well located, just minutes from the beaches, fabulous Town Center shopping and the central business district. Residents enjoy a quiet lakeside setting, three resort style swimming pools, three club houses, a fitness facility and an adjacent golf course."
In addition to Country Club Lakes, GoldOller owns and operates the Club at Town Center, a 432 unit apartment complex in the Jacksonville's Southside (Town Center) area. Both properties will offer GoldOller's new "Life on the GO" resident services which include onsite fitness classes, nutritional counseling, yoga and more.
With properties in 12 states and a growing portfolio of about 30,000 managed units GoldOller is an emerging leader in the multifamily industry.