Mandarin Trace (Jacksonville, Florida)

Mandarin Trace Aprtments is a 120 unit Section-8 property located in Jacksonville, Florida. The property is comprised of 44 one-bedroom flat units, 60 twobedroom units, consisting of flats and townhouses, and 16 three-bedroom townhouse units. Of the 120-units on site, 119 units are administered by HUD Section-8 through a HAP contract and one management unit.

Omni Affordable Florida, LLC an affiliate of SBV, acquired Mandarin Trace Apartments in October 2021. OAF closed on the syndication for Mandarin Trace Apartments on November 30, 2022 and has begun renovation on the project in December 2022. Mandarin Trace Apartments was financed with $16 million Freddie TEL loan proceeds and $11 million of 4% Low Income Housing Tax Credit ("LIHTC") equity. The project will be subject to regulation in accordance with the LIHTC program and will maintain affordability.