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Trophy Multifamily Asset Sells in Jacksonville for $53.3M

Crescent Makes First Foray Into Jacksonville Market
By Bryce Meyers
CoStar News
October 25, 2013 | 5:25 P.M.

Miami-based Crescent Heights closed on its acquisition of The Strand, a 295-unit apartment building located at 1401 Riverplace Blvd. in Jacksonville, FL, for $53.3 million, or nearly $200,000 per unit. The deal marks the first purchase in Jacksonville for Crescent.

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