Becovic paid The Vestcor Companies $27 million for two restored 1926 towers with 227 apartments, and now owns four historic landmarks on the Northbank.
- Price
- $27 million
- Closed
- August 14, 2026
- Seller
- The Vestcor Companies
- Homes added
- 227
- Buildings
- The Carling · 11 East
Becovic paid $27 million for The Carling and 11 East. The sales closed August 14, 2026, and the Duval County Clerk of Court recorded the deeds on August 20. Becovic gains 227 apartments in Jacksonville with the two buildings.
The deeds show three sales. BMG 11 East LLC paid $15.5 million for 11 East to The Vestcor Companies’ VCP-Lynch Building Ltd. BMG Carling LLC bought The Carling in two sales of $5.75 million each, from VCP-Roosevelt Building Ltd. and VCP-Roosevelt Garage LLC, for $11.5 million in total.
“Adding The Carling and 11E to the Becovic Companies portfolio is another step in our commitment to Jacksonville and the revitalization of its key downtown corridor. Alongside the recent acquisition of the Laura Street Trio, we’re building an ecosystem that brings these engaging buildings back to life while honoring their history.”
The Carling
The Carling rises 15 stories at 31 W. Adams Street, with a five-story parking garage at 30 W. Monroe. It opened as a hotel with more than 300 guest rooms, later renamed the Hotel Roosevelt. Today it holds 100 apartments and has kept its marble staircase, terrazzo floors and Palladian windows.
11 East
11 East stands 17 stories at 11 E. Forsyth Street and takes its name from the address. It opened in 1926 as the Lynch Building, one of seven skyscrapers Jacksonville put up during Florida’s 1920s land boom, and later housed the headquarters of American Heritage Life Insurance Co. It now holds 127 apartments, some of them lofts.
Both buildings are on the National Register of Historic Places.
The seller
“After owning them for more than 20 years we decided it was time and because Becovic is becoming very active in downtown it seemed like a perfect fit.”
Erik Bjornson and Tyler Nilsson of Institutional Property Advisors represented Vestcor. Vestcor keeps the Lofts at Brooklyn, Monroe, LaVilla, Jefferson and Cathedral downtown, which Hoover put at more than 600 units.
Becovic had been working on the purchase for months. It filed BMG Carling LLC and BMG 11 East LLC with the state on June 2, 2026, both with Muhamed Becovic as manager, and registered the fictitious names The Carling Apartments and 11 East Apartments with the Florida Division of Corporations on August 13.
“We truly understand the responsibility before us: to thoughtfully restore, activate and breathe new life into these historic buildings. Our vision is to create a dynamic work, eat, play and live ecosystem that honors their legacy while generating new energy and excitement in downtown Jacksonville.”
