Opal Holdings sold the 288-unit multifamily asset located 2 miles west of Regency Plaza Shopping Center. : Opal Holdings has sold City Ridge Apartments, a 288-unit multifamily property in Jacksonville, Fla. Nathan Holdings purchased the Class B asset for $24.7 million and renamed it Oaks at Red Bay. According to Yardi Matrix data, the deal was also subject to a $16.1 million Fannie Mae loan originated by Prudential Financial. The property last traded in 2015 for $17 million.