IAA serves as Dealer Manager in Jacksonville Multifamily Acquisition

For over three decades, International Assets Advisory has provided a wide range of wealth management and financial planning services to clients across the United States and abroad. Supported by a team of personal finance consultants, International Assets Advisory employs customized investment strategies to help both individual and institutional clients achieve their financial goals.

Recently, the financial firm served as a dealer manager to Preferred Apartment Communities, Inc., in a key multifamily acquisition. The Maryland-based property management and investment company announced in August 2016 that it had purchased Sorrel Luxury Apartments, a 290-unit apartment complex in northeastern Florida. Classified as a Class A multifamily community, Sorrel Luxury Apartments is located in the burgeoning Jacksonville market, which is projected to be one of the nation’s leading real estate sectors in 2017.

Preferred Apartment Communities financed the purchase via a $33.6 million first mortgage loan facilitated by Prudential Multifamily Mortgage. Its investment in the Jacksonville area aligns with its corporate acquisition strategy, which focuses primarily on purchasing multifamily communities in select US markets.

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