Jan 10, 2022

Vista Brooklyn Apartments sold for a record $126.3 million

An affiliate of Bristol Development Group and Hallmark Partners announced the sale of Vista Brooklyn on Monday for $126.3 million.

The Buyer was CS 1031 Vista Brooklyn Apartments DST, an affiliate of Capital Square. The sale marked the highest price ever paid for an apartment building in Jacksonville, according to Hallmark Partners.

Vista Brooklyn, located at 200 Riverside Ave., opened in 2021. The 10-story apartment building contains 308 units, which means the sale comes out to more than $409,000 per unit. The apartments floor plans range from studio to three-bedroom, and the building also has 12,687 square feet of ground floor commercial/retail.

Vista Brooklyn is located in the heart of the Brooklyn neighborhood, adjacent to downtown Jacksonville and within walking distance to major employers, retail shops and restaurants as well as the St. Johns River.

“Our goal for Vista Brooklyn was to set a new standard of apartment living in Jacksonville and we are proud of that accomplishment,” said Charles Carlisle of Bristol Development, in a release. “Jacksonville is an important market for us, and we believe that Jacksonville is quickly becoming an 18-hour city – with robust population and economic growth, great amenities and a high quality of life.”

Alex Coley, president of Hallmark Partners, added: “We saw the great potential of the Brooklyn neighborhood and have spent the last 15 years spearheading catalytic projects like Vista Brooklyn and 220 Riverside. The Brooklyn neighborhood renaissance is in the early stages, and with the continued support from the city of Jacksonville we see even more dynamic projects on the horizon.”

Will Mathews, Casey Babb, Shawn Rupp, Luis Baez, Brad McCollum, Thomas Leachman and Pete Nicoletti of Colliers facilitated the transaction.

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