Topaz Capital Group Acquires Melbourne Multifamily From Stone Cutter Capital Management For $30,000,000

The multifamily property located at 1245 Palm Bay Road Northeast in Melbourne was recently sold for $30,000,000. The asset comprises 224 units with a price per unit of $133,929. Spanning 204,500 square feet, the property was sold at a price per square foot of $147.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $30,000,000
• Buyer: Marc A. Hershberg & J. Etan Friedman - Topaz Capital Group
• Seller: Stone Cutter Capital Management
• Broker: Randy Ferreira - Blue Roc Premier
• Lender: Jared Stein & Ivan Kaufman - Arbor Realty Trust Inc

The key individuals involved in this transaction include Marc A. Hershberg and J. Etan Friedman from Topaz Capital Group as the buyers. Stone Cutter Capital Management acted as the seller, while Randy Ferreira from Blue Roc Premier served as the broker. Additionally, Jared Stein and Ivan Kaufman from Arbor Realty Trust Inc facilitated the lending aspect of the deal.