Landings Real Estate Group Closes on 195 Unit Townhome Community in Southwest Jacksonville, FL
June 6, 2013
On Thursday, June 6th, Landings Real Estate Group, a Newport, Rhode Island based real estate development firm, expanded its brand in Southwest Jacksonville, Florida. Landings purchased the former Yellow Water Apartment Community, located off of Route 228 and Bicentennial Drive in Jacksonville, Florida.
The newly named Saddle Brook Landings Townhome Community features 195 market rent townhomes, located near local retail and entertainment venues and are less than eight miles from I-10 and Route 295. The community features three and four bedroom townhomes with private garages. Each building is comprised of three to six residences, which allows for an abundance of privacy, peace, and tranquility.
Upon the transition to Saddle Brook Landings, the Landings' team will continue to deliver exceptional customer service and the meticulous craftsmanship that the organization has become known for throughout the years. Landings Real Estate Group and its Partner, MLG Capital, will invest $3.5 million into the property over the next 24 months. Plans for the community include the construction of a new community center, fitness center, pool area, new roofing and siding, a new entranceway that reflects the equestrian culture of the area, common area improvements and new landscaping to enhance the overall curb appeal of the property.
"We look forward to not only becoming a prominent residential operator in the Jacksonville market, but also look forward to participating in and contributing to the Jacksonville community," said Christopher Bicho, President of Landings Real Estate Group. "The upcoming transformation of Saddle Brook Landings represents our support for the growth around the Cecil Field Commerce area and our passion to provide for residents a community with a tranquil, peaceful, and serene life style."
Landings Real Estate Group was founded by Mr. Bicho in 2006 and has expanded the company's Northeast presence into new markets, while cultivating an entrepreneurial culture among the Landings' team. Under Mr. Bicho's leadership, Landings Real Estate Group has continued a consistent pattern of growth, executing a core multi-family strategy by acquiring undervalued assets and other real estate opportunities that require operational as well as financial restructuring. Landings Real Estate Group is an investment, development, construction, and management firm. Landings now operates over 1,500 apartments and condominiums throughout Rhode Island, Connecticut, Massachusetts, New York, and Florida. Landings Real Estate Group will continue to pursue multi-family opportunities in an effort to expand their portfolio throughout the East Coast.