An apartment complex with 85 units in southwest Ocala just sold for over $11 million.
According to a press statement issued by California-based commercial real estate brokerage Marcus & Millichap, Paddock Apartments was sold for $11,220,000 to Paddock Apartments 85, LLC.
That company is registered to Covest Hold COD 194, LLC, which is registered to Feet Capital, LLC. Both of those companies list primary addresses in Minnesota.
Located at 1900 SW 31st Avenue, the property was previously owned by Red Knight Ocala Paddock, LLC, a company registered to Brian Leonard, Stefanie Leonard, and Anthony Scandariato. All three of those individuals have New Jersey addresses listed in corporate records.
According to Marion County property records, the building was purchased by Red Knight Ocala Paddock in November 2021 for $6,000,000.
The apartment complex is located just north of the College of Central Florida campus and is comprised of 19 buildings.
In total, there are over 21,000 square feet of combined floor area across the buildings.
The community features a mix of one- and two-bedroom apartments. Most of the buildings at the site were built in 1983 and 1984. Building permits from 2018 show that improvements were made to the roof.
