Jay Massirman, Jay Jacobson, Sergio Socolsky & Marc Chasin Of EDEN Living Secure $114M Bridge Financing For 638 Build-to-Rent Homes
4850 Heritage Lakes Boulevard & 9105 Treddick Parkway
$100,000,000
$191/SF
Building Size
523,594 SF
Asset Type
MultiFamily
Closing
Jun 12, 2025
AI
The transaction involves 638 units of Build-to-Rent, Single-Family Homes located at 4850 Heritage Lakes Boulevard and 9105 Treddick Parkway. The total square footage of the properties is 625,717. The properties are situated in the Melbourne and Jacksonville markets and have an associated loan amount of $114,000,000 through bridge financing.
Summary of transaction details:
- Property Type: Build-to-Rent, Single-Family Homes
- Transaction Amount: $114,000,000
- Address: 4850 Heritage Lakes Boulevard & 9105 Treddick Parkway
- Market: Melbourne & Jacksonville
- Units: 638
- Square Footage: 625,717
- Landlord: Jay Massirman, Jay Jacobson, Sergio Socolsky & Marc Chasin - EDEN Living
- Brokers: Max La Cava & Melissa Marcolini Quinn - JLL
- Loan Type: Bridge Financing
The deal involves prominent individuals including landlords Jay Massirman, Jay Jacobson, Sergio Socolsky, and Marc Chasin from EDEN Living, who are responsible for the property ownership. The brokerage representation comes from Max La Cava and Melissa Marcolini Quinn of JLL, who facilitated the transaction.
Players
Melbourne MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93