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FrontRange Capital Acquires The Southerly at Southbank

Jacksonville, FL – FrontRange Capital Partners recently acquired The Southerly at Southbank, a 185-unit multifamily property located in Jacksonville, FL. The asset is strategically situated in the high barrier to entry sub-market of San Marco, a strong demographic neighborhood adjacent to downtown Jacksonville.

“We are very excited about the acquisition of The Southerly at Southbank. The waterfront location along the St. Johns River is truly irreplaceable. The market fundamentals in Jacksonville are extremely strong, and we are encouraged by the projected long-term job, population, and rent growth. There have been significant changes in and around downtown Jacksonville, and we expect these positive trends to continue,” said Christopher Davis, Managing Principal of FrontRange Capital.

The Southerly at Southbank was completed in February 2022 and is uniquely situated on the St. Johns River. The property sits at the base of the Baptist Health Complex, a regionally renowned medical center, and is proximate to Jacksonville’s downtown core. In addition to its proximity to medical employment and downtown, The Southerly is conveniently located near TIAA Bank Field, the Times Union Center of the Performing Arts, the VyStar Veterans Memorial Arena, and the historic Florida Theater. On the north side of the river, Whole Foods Market recently began construction on a riverfront location, and a new Four Seasons hotel is under development across from TIAA Bank Field. Amenities at the Southerly include a communal workspace and resident lounge, fitness center, resort-style pool overlooking the river, private access parking, dog park, and a pet spa.

Jacksonville fosters a business-friendly environment that strongly benefits both its residents and businesses. Wall Street Journal recently named Jacksonville the fifth hottest job market in the U.S., and ULI recently recognized Jacksonville as one of its five “Supernova” cities along with Austin, Raleigh, Nashville, and Boise, cities which are expected to have tremendous and sustained population growth with above-average levels of economic diversity and white-collar employment.