MEXICO BEACH, FL – The St. Joe Company announced commencement of development of a new 216-unit apartment community to be a part of its larger master plotted community in Mexico Beach, Florida. Site work for the apartment community is underway on the west end of Mexico Beach near U.S. Highway 98 and the town s public boat ramp. St. Joe is making the plotted apartment community with joint venture partner HomeCorp.
These apartments will join a 42-unit townhome community currently under development in St. Joe s master plotted community which is plotted for a total of 944 residences to include a mix of single-family homes and additional apartments and townhomes as well as a walkable commercial village.
This location is approximately 12 miles from the main gate of Tyndall Air Force Base which is undergoing a multi-billion dollar redevelopment to make what The United States Air Force is calling the base of the future. Plans call for the 216 units to feature a mix of one-, two- and three-bedroom apartments, each with a screened balcony or patio. The apartment community s plotted amenities include a clubhouse with a fitness center and an internet café, a pool, a playground and a dog park as well as a gated entry for residents. Future phases include plans for an additional 201 apartments.
The demand for housing in Mexico Beach is very high and with the ongoing redevelopment of Tyndall Air Force Base, we expect that demand to continue to grow, said Dan Velazquez, Senior Vice President of Commercial Real Estate for St. Joe. Given the location, the plotted amenities and the mix of floorplans that we plot to offer, our anticipation is that this community will attract a mix of people who serve or work at the base, as well as people who just want to delight in the unique Mexico Beach lifestyle.
HomeCorp is pleased to work with St. Joe on this project to bring much-needed, quality apartment community living to Mexico Beach, said Herbert Scheuer, Principal of HomeCorp. We look forward to welcoming residents and bringing our unique approach to multi-family housing to this gorgeous area. St. Joe and HomeCorp have partnered in the past to make the Watersound Origins Crossings and Pier Park Crossings apartment communities.
With the addition of this apartment community, St. Joe s apartment portfolio includes 1,333 units that are either completed or under construction. Plans call for the first apartment units in this apartment community to be available for lease in 2023 and all units in this first phase being completed by early 2024.

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JACKSONVILLE, FL – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced the acquisition of a 10-tale, luxury, mixed-use, Class A multifamily community in Jacksonville, Florida. The community was bought on behalf of CS1031 Vista Brooklyn Apartments, DST.
“Vista Brooklyn Apartments is an brilliant acquisition for Capital Square’s 1031/DST program,” said Louis Rogers, founder and chief executive officer of Capital Square. “Jacksonville is ranked number one in Florida for multifamily rent growth, with 17.4% year-over-year rent growth during the second quarter of 2021.1 It is hard to imagine a better market for stable income and capital appreciation.”
Located at 200 Riverside Ave., Vista Brooklyn features 308 units and 12,685 square feet of ground-floor retail space. Completed in 2021, the community is situated one mile southwest of downtown Jacksonville on the banks of the St. Johns River and within Jacksonville’s historic and quick-growing Brooklyn/Riverside submarket, according to Yardi Matrix.
The community offers one-, two- and three-bedroom units with high-end finishes, including fully equipped GE kitchens with quartz countertops, custom cabinets, subway tile kitchen backsplashes and more.
Amenities at the community include a rooftop beer garden, a rooftop pool deck with a heated saltwater pool and outdoor grills, co-working and meeting spaces with pre-installed televisions for device connectivity, a top-floor clubroom with a gaming area and outdoor access, a secure package delivery room and a coffee bar. Additional amenities include a bicycle storage room, a meditation room with Somadome meditation pods, a fitness center with Technogym equipment, a spin suite and Wellbeats on-demand workout classes, a dog park and pet grooming room, and a courtyard with lounges, grilling stations, a dining area and outdoor games.
CS1031 Vista Brooklyn Apartments, DST seeks to raise $63.7 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“Vista Brooklyn is located in one of the premier submarkets within the Jacksonville MSA,” said Whitson Huffman, chief strategy and investment officer. “Within walking distance to many restaurants and points of interest, and situated one mile from downtown Jacksonville, the community is highly attractive to millennials and residents looking for a walkable lifestyle. In fact, Vista Brooklyn’s zip code houses one of the fastest-growing millennial populations in the United States, according to Yardi Matrix.”

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NORFOLK, VA – Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the acquisition of an 8-asset portfolio of workforce housing communities in North Carolina’s Research Triangle for $475 million. The Newmark team of Jason Kon, Henry Stimler and Bill Weber represented the seller, Dasmen Residential LLC, and facilitated the debt for the acquisition.
Located throughout the Research Triangle, an area known for its research universities and STEM companies, the portfolio comprises 2,356 units and features four communities in Durham, three communities in Raleigh and one community in Charlotte. HGI plans to invest approximately $21.9 million across the properties to renovate 25% of the interior units. Harbor Group Management Company, the property management arm of HGI, will assume management of the entire portfolio.
“The Research Triangle is an vital target market for HGI as we seek to buy well-located communities in high-growth markets,” said Richard Litton, HGI. “As the area’s high-paying STEM jobs continue to attract new residents, we see opportunity to leverage our expertise in owning and operating similar communities in the region to generate rent growth amid increasing demand for housing.”
“We are proud that we were able to bring these two fantastic firms together to do this unique and large off-market transaction. Dasmen entrusted the Newmark team to do this deal in a very silent and select manner, culminating in a fantastic outcome for both parties,” said Kon.
The Raleigh-Durham properties within the portfolio have direct access to Research Triangle Park, placing residents in proximity to over 22.5 million square feet of office and lab space and more than 275 businesses. Since 2020, more than 9,000 jobs have been made in the Research Triangle area, driven by the expansion of technology and life science companies, with major employers including Bayer Crop Science, Cisco, Biogen and IBM. Apple’s first East Coast campus is currently under development in Research Triangle Park, and is projected to bring an additional 3,000 jobs to the area.
HGI is an active investor in the southeastern U.S. markets. With the addition of the Research Triangle portfolio, the firm currently owns and manages nearly 5,000 apartment units in North Carolina.

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