JACKSONVILLE, FL - The Klotz Group of Companies, a leading private equity real estate investment platform based in Jacksonville and founded by CEO Jeff Klotz, along with its partner KABR Group are thrilled to announce a major milestone for its highly anticipated Reef Apartments project in Atlantic Beach, FL. The luxury community has now reached an impressive 95% occupancy and is officially fully stabilized, marking a new era for upscale living in the region. This achievement follows a successful refinancing of the development’s construction loan, secured with a $75.9 million loan from Regions Bank through Fannie Mae.
Situated at 2753 Mayport Road, just moments from scenic Hannah Park and the iconic A1A, The Reef is not only Jacksonville’s largest luxury apartment complex but also a beacon of modern coastal living. The expansive 456-unit community is housed within two striking five-story buildings, offering residents top-tier amenities in an unrivaled location. The Reef Retail component complements the living experience with 30,000 square feet of Class-A restaurant and retail space, making it a destination for both residents and visitors alike.
“This is a testament to the strong demand for luxury rental housing in Atlantic Beach where residents and their guests can enjoy an active lifestyle without traveling out of the area,” said Klotz. “We are also grateful for the support of Regions Bank and Fannie Mae in securing our refinancing.”
One of the standout features of the development is the stunning 13,000-square-foot two-story modern glass and steel clubhouse, which proudly holds the title of the largest of its kind in Northeast Florida. With a rooftop terrace offering breathtaking views, a resort-style pool for ultimate relaxation, an espresso bar and lounge for casual gatherings, and a state-of-the-art Class-A fitness center, The Reef has truly redefined luxury living. The high-tech fitness center includes innovative amenities such as the Mirror workout system, a Freedom Climber rock wall, and Peloton bikes. Outside, residents enjoy additional benefits like electric vehicle charging stations and a spacious dog park — everything needed for a dynamic lifestyle.
With stylish one, two, and three-bedroom floor plans ranging from 690 to 1,242 square feet, The Reef offers a range of upscale options to suit unique needs. To fully appreciate the luxury and lifestyle at The Reef Apartments, prospective residents are invited to schedule a tour, available seven days a week.
About The Klotz Companies: For more than 25 years, The Klotz Group of Companies has served as a trusted real estate investment partner, providing a vertically integrated and comprehensive private equity real estate investment platform. Since 1995, The Klotz Group has established itself as one of the most active multifamily groups in the Southeast, creating a track record of success providing superior risk-adjusted returns while capitalizing on the expertise of its teams, executives and management professionals whose experience combines both operational and niche market knowledge. To learn more, visit www.theklotzcompanies.com
About The KABR Group: KABR Group is a vertically-integrated private equity real estate firm responsible for the investment, development, and management of real estate. The portfolio includes commercial, multifamily, industrial, hospitality, and development. Founded in 2008, KABR has acquired approximately 100 properties comprised of six million square feet of development rights, four million square feet of office and industrial space, and more than 4,000 multifamily units. To learn more, visit www.kabrgroup.com