Arch Companies acquires Camelot Gardens Apartments in Jacksonville, Florida for $40 million

The Transaction Marks the Second Major Jacksonville Acquisition in a Week for Arch Companies for a Total of $54 Million and 878 Units

JACKSONVILLE, Fla. – October 3, 2019 – Arch Companies is pleased to announce the acquisition of the Camelot Gardens apartment complex in Jacksonville, Florida for $40 million. The property was represented by Director John Rutherford of Newmark Knight Frank. Bridge loan financing for the transaction was provided by Walker & Dunlop Commercial Property Funding, LLC and facilitated by Arch Advisors, an affiliate of Arch Companies. This is the second major acquisition in a week in Jacksonville for Arch Companies, which also recently purchased the Midtown Oaks apartment complex for $14.1 million, for a total of $54 million in the week.

Located southwest of downtown Jacksonville in the Hyde Park neighborhood, the garden apartment complex contains 692 units across 615,545 square feet, making Arch Companies’ total unit count in Jacksonville 878.

“Jacksonville is an increasingly active market right now,” said Jeffrey Simpson, Managing Partner at Arch Companies. “The Camelot Gardens offers a great location with easy access both to Jacksonville’s central business district and surrounding attractions.”

The suburban neighborhood provides direct access to the I-295 loop and offers proximity to I-10 and central Jacksonville. The property has one-, two-, and three-bedroom apartments, a number of which have in-unit washer-dryer connections, patios and views of the nearby Wills Branch river. The property includes a playground, fitness center and multiple swimming pools, as well as is near parks, trails and public transportation.

“Arch Companies plans to invest heavily into the community through a curated property renovation and rebranding effort,” said Jared Chassen, Partner at Arch Companies.

“The property will benefit from Arch Companies’ value-add strategy,” said Rutherford. “There is increasing demand in the area and the transaction represents Arch Companies’ plan to invest in the neighborhood.”

This acquisition follows Arch Companies’ recent purchase of other value-add multifamily units in the greater Jacksonville market and is another important asset in the firm’s growing Southeast portfolio. Since Arch’s inception, it has acquired value-add multifamily properties in Florida, Connecticut, Alabama and California.

About Newmark Knight Frank

Newmark Knight Frank (“NKF”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit

Newmark Knight Frank is licensed as Newmark Knight Frank Multifamily in Florida.

Discussion of Forward-Looking Statements about Newmark Group

Statements in this document regarding Newmark Group that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.

About Walker & Dunlop

Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine’s Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop’s 800+ professionals in 32 offices across the nation have an unyielding commitment to client satisfaction.

About Arch Companies

Arch Companies specializes in real estate investment, development, construction and asset management across the United States with a concentration on primary and secondary markets. Jeffrey Simpson and Jared Chassen founded Arch Companies on the premise that investment in real estate should be driven by sound market fundamentals, a flexible time horizon and strong alignment of interest between investors and managers. With more than 35 years of experience, Arch Companies has a strong track record of driving investment results. Arch Companies differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with partners.


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