Published on September 20, 2023 at 10:53 am
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Elevate Commercial Investment Group is converting three decades-old South Jacksonville hotels – two former Days Inns and the former America’s Best Inn – into apartments that will average 300 square feet and charge monthly rents that average about $1,000.
The purchase price and permits show an investment of at least $29 million.
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Elevate Commercial bought the properties in late 2022 through Jacksonville Portfolio Opportunity Phase 1 LP, Jacksonville Portfolio Opportunity Phase II LP and Jacksonville Portfolio Opportunity Phase III LP.
Read the rest of the story from Jacksonville Today news partner the Jacksonville Daily Record.
