DALLAS, TX - Behringer Harvard announced its acquisition of Wimberly at Deerwood, a 312-unit multifamily community in Jacksonville, Florida. Located at 9727 Touchton Road, just off Southside Boulevard (State Road 115), the community offers residents convenient access to Jacksonville International Airport as well as connections to the metro area's interstate highways and major employment centers.
Wimberly at Deerwood was acquired for the portfolio of Behringer Harvard Opportunity REIT II, Inc. through a joint venture with ApexOne Investment Partners, Inc., a Houston-based real estate investment firm. Behringer Harvard Opportunity REIT II, Inc. is the controlling partner.
"We believe that Wimberly at Deerwood is a well-leased asset that offers stable cash flow and attractive upside potential," said Mr. Michael O'Hanlon, Chief Executive Officer of Behringer Harvard's Opportunity Platform. "Over the next few years, we intend to make incremental interior and exterior improvements that will further enhance the appeal of this popular community."
Wimberly at Deerwood offers apartments with one, two or three bedrooms; nine-foot ceilings; wood flooring in kitchens and entryways; full-size washers and dryers and an average unit size of 914 square feet. Community amenities include a swimming pool, fitness center, business center, 60-person theater room and courts for sand volleyball and basketball.
A diverse economic base, a young and energetic population and a high quality of life have contributed to Jacksonville's substantial growth in recent decades. The city has one of the largest military presences in the nation and is a transportation hub boasting a deepwater port, four airports, three seaports, a highway system that links the city to three major interstates, and a rail system served by three railroads.
Behringer Harvard creates, manages and distributes global institutional-quality alternative investment programs for individual and institutional investors. Programs sponsored and managed by the Behringer Harvard group of companies have attracted equity of more than $6 billion and made investments into more than $11 billion in assets.
ApexOne Investment Partners is a Houston-based real estate firm that focuses on multifamily investments nationwide.