Robbins Announces Acquisition of 147-Unit SoBA Luxury Apartment Community in Expanding Submarket of Jacksonville, Florida

Robbins Announces Acquisition of 147-Unit SoBA Luxury Apartment Community in Expanding Submarket of Jacksonville, Florida

JACKSONVILLE, FL - Robbins Property Associates, a Tampa-based vertically integrated multifamily owner and operator, has acquired the SoBA Luxury Apartments, one of Jacksonville's ;newest downtown residential developments. Robbins Property Associates acquired the property from Atlanta-based Catalyst Development Partners.

The four-story boutique residential community is located on the Southbank in the rapidly expanding downtown submarket of Jacksonville (urban core). The property's downtown location offers residents a luxury city lifestyle in a walkable neighborhood. Located within walking distance from San Marco Square, SoBA is positioned near highly desirable dining, shopping, and entertainment. The central downtown location also gives direct access to Jacksonville's finest medical institutions, thriving art scene, and bustling Central Business District.

"We began refocusing on Jacksonville as a target market in early 2020 and are excited to re-establish a presence in the city. The timing was ideal as Jacksonville quickly tightened both in terms of occupancy and rent growth emerging from the pandemic, and we plan to continue our expansion in the market," said Neal Herman, Managing Director of Investments at RPA.

The 147-unit project was completed in 2020 and offers one-, two-, and three-bedroom apartment homes with open-concept floor plans. The units feature sophisticated finishes that include gourmet kitchens with granite countertops and stainless-steel appliances, walk-in closets, and patios with gorgeous city views.

Residents enjoy a luxury-grade amenity package consisting of a stunning resort-style pool with in-water lounge chairs, a state-of-the-art 24-hour fitness club, and an outdoor yoga garden. Additional outdoor amenities include an open-air game lounge, a summer kitchen with gas grill stations and community-style dining, and an outdoor lounge adorned with market lights and a gas fire pit. As a pet-friendly community, SoBA offers an indoor self-service grooming spa for four-legged residents.

The community also showcases a grand clubroom with a Starbucks beverage café, game room, and business lounge. SoBA's business lounge and co-working spaces become a hub of creativity while promoting comfortable nooks and a private meeting room to maximize productivity.

"SoBA's residents will really appreciate the walkability to both San Marco and downtown Jacksonville's riverfront," said Kristi King, COO at RPA. "SoBA provides a boutique-style community with high-end interior finish and amenities in direct proximity to healthcare jobs and an established retail and restaurant hub." 

Source: Robbins Property Associates

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