Arch Companies acquires Midtown Oaks Apartment Complex in Jacksonville, Florida for $14.1 million

JACKSONVILLE, Fla. – September 26, 2019 – Arch Companies is pleased to announce the acquisition of the Midtown Oaks apartment complex in Jacksonville, Florida for $14.1 million from previous owner InvestRes. InvestRes was represented by Director John Rutherford of Newmark Knight Frank, while financing for the transaction was originated through Arbor Realty’s Fannie Mae Green Rewards Program by Morris Betesh of Meridian Capital Group and Arch Advisors, an affiliate of Arch Companies.

“Jacksonville is a rapidly growing and competitive real estate market right now,” said Jeffrey Simpson, Managing Partner at Arch Companies. “We are excited to be involved in this historic community with this standout residential property.”

Built in 1975, Midtown Oaks is located in the St. Nicholas neighborhood, near St. Johns River and Empire Point. The walkable, centrally located, waterfront neighborhood provides direct access to I-95 and downtown Jacksonville. It is also minutes from the prominent San Marco Square, which offers some of the top restaurants and shopping in Jacksonville.

“Midtown Oaks offers residents a great location in an exciting city that is seeing a large influx of residents looking for a more centralized, urban lifestyle,” said Jared Chassen, Partner at Arch Companies.

The garden apartment complex contains 176 one- to two-bedroom units across 146,400 square feet. The property features wooded landscaping, a swimming pool, a clubhouse, a business center, grilling and picnic areas, on-site laundry, a fitness center and a dog park, as well as is conveniently located near public transportation and local schools.

“This was a very straightforward deal for both the buyer and seller,” said Rutherford. “Midtown Oaks represents an exceptionally well-maintained property in the increasingly popular St. Nicholas submarket of Jacksonville. Arch Companies will benefit from a value-add rehab program matching the demand of the area.”

This acquisition follows Arch Companies’ recent purchase of 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 Meridian Capital Group

Founded in 1991, Meridian Capital Group is America’s most active dealmaker and one of the nation’s leading commercial real estate finance, investment sales and retail leasing advisors. In 2018, Meridian closed over $37 billion in financing through more than 3,500 transactions across more than 250 unique lenders and sold nearly $1 billion in commercial property. Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, and healthcare and senior housing properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida, and California.

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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