Berkadia, a distinguished leader in the commercial real estate sector, announced the sale of Retreat at 42nd, a 268-unit apartment community located in Ocala, Florida – officially known as The Horse Capital of the World®.
Senior Managing Director Cole Whitaker, Managing Director David Etchison, and Director Mary Beale of Berkadia Central & North Florida led the transaction on behalf of the seller, Retreat at 42nd LLC. The buyer, Hamilton Point Investments of Old Lyme, Connecticut, acquired the property for an undisclosed price.
Director Jeremy Lynch of Berkadia Philadelphia arranged financing through Berkadia’s Proprietary Lending Group (PLG) on behalf of the buyer.
“Ocala has seen explosive growth as people migrate to the area from other parts of Florida and out of state seeking value and a more suburban lifestyle,” explained Whitaker. “The developer identified this trend and built a luxury community to meet the growing demand for rental housing.”
“Through strategic oversight of the lease-up process, Hamilton Point is well-positioned to deliver substantial operational value, enhancing an asset with exceptional finishes in a vibrant and expanding market,” added Lynch.
Located at 3491 SW 42nd Street, Retreat at 42nd was built in 2023 on a 13-acre site and consists of 16 three-story apartment buildings and a 7,500-square-foot clubhouse. Large format apartment units distinguish this community from others in the area. There are 24 one-bedroom units (1,221 square feet), 156 two-bedroom units (1,710 square feet), 84 three-bedroom units (1,884 square feet), and four three-bedroom duplexes (2,154 square feet).
Apartment interiors include natural granite countertops and stainless steel appliances, hardwood-inspired flooring, oversized walk-in closets and walk-in showers, private balconies or patios, full size washer/dryer connections, and vaulted ceilings on the third floor. Amenities at the pet-friendly property include a clubhouse with 24-hour fitness facility, business center, event space and TV lounge; a zero-entry saltwater pool and sundeck; bark park and outdoor ramada/grill area; detached garages and maintenance area.
The property is ideally located approximately 15 minutes from downtown Ocala, close to major employers and popular destinations including HCA West Marion and HCA Ocala hospitals, Paddock Mall, Shoppes at Paddock, The Golf Club at Ocala Preserve, World Equestrian Center, Silver Springs State Park and Ocala National Forest.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
