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Apartment Investor Bolsters Florida Portfolio With Purchase

An apartment owner bolstered its portfolio in the Sunshine State with a $55 million acquisition of a 440-unit multifamily property in Jacksonville, Florida, a city near the Georgia border enjoying robust population and job growth.

American Landmark Apartments, which is based in Tampa, Florida, said it paid $125,000 per unit for Eastport Apartments, a deal that gives the firm 23 properties in Florida, including eight in Jacksonville. In 2011, Strategic Realty Capital of Calabasas, California, bought the complex for $33.4 million, or nearly $76,000 per door, CoStar data shows.

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