Sale secured for new luxury apartments in St. Johns County, Florida

JACKSONVILLE, Mar. 27, 2025 – JLL Capital Markets announced today that it has secured the sale of Eight Winds, a 280-unit luxury multifamily community in St. Augustine, Florida.

JLL represented the seller, Altis Cardinal. The buyer was Debartolo Development, LLC.

Eight Winds, located at 50 Wexford Wy. in St. Augustine's rapidly growing St. Johns County submarket, offers convenient access to I-95 and the International Golf Parkway. The property is strategically positioned near major employment centers, top-rated schools and expanding retail footprints.

St. Johns County continues to be one of the fastest-growing counties in Florida, boasting one of the state's top schools and a thriving economy driven by population growth, diverse business environment and strong education and healthcare sectors.

Eight Winds, a newly constructed Class-A+ apartment community, offers a contemporary living experience with 297,428 square feet of rentable space. This modern apartment community features a diverse range of one-, two- and three-bedroom units, all designed with high-end finishes and smart home technology. Residents can enjoy resort-style amenities, including a zero-entry heated pool, state-of-the-art fitness center, pickleball courts and multiple indoor and outdoor lounge areas.

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Directors Cliff Taylor and Joe Ayers.

"The successful sale of Eight Winds underscores the continued strength and attractiveness of the St. Johns County multifamily market," said Taylor. "This property's strategic location, best-in-class amenities, and high-quality finishes make it a standout investment opportunity in one of Florida's most desirable submarkets."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Altis Cardinal, a Miami-based full service real estate firm established in 2009, specializes in acquisition, development and management of diverse real estate assets including residential, office, retail and land across Florida, Texas and Nevada. With a particular expertise in multifamily properties, having acquired or developed over 2,000 units, Altis Cardinal's principals bring extensive experience in real estate development, asset management and complex financial strategies to formulate effective solutions in today's dynamic real estate market.

DeBartolo Development, a legacy real estate firm with over seven decades of experience, has a proven track record of profitable investments in assets of all sizes and scope. Since 2003, the company has successfully invested in 166 assets with an approximate value of $5 billion specializing in opportunistic acquisitions and market-driven, ground-up development of multifamily, hospitality, industrial, retail and mixed-use projects throughout the United States. With a commitment to excellence and strong family values, DeBartolo Development strives to build robust communities and lasting relationships with partners while developing trusted solutions that work on multiple levels.