Topaz Capital Group Acquires Multifamily Asset In Melbourne For $30.6M With Franklin Street's Reps

The multifamily property located at 150 & 220 E. University Blvd. in Melbourne was recently sold for a total price of $30,600,000. The transaction, which took place on 11/03/2021, involved the sale of 229 units, with an average price per unit of $133,624. The property spans a total square footage of 199,280, resulting in a price per square foot of $154. The sale was facilitated by brokers Darron Kattan, Zach Ames, Avery Jordan, and Mark Savarese from Franklin Street. The buyer of the property was Topaz Capital Group, while the seller was Scotto Properties.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $30,600,000
• Units: 229
• Price per Unit: $133,624
• Square Footage: 199,280
• Price per Square Foot: $154
• Market: Melbourne

The deal was successfully negotiated by brokers Darron Kattan, Zach Ames, Avery Jordan, and Mark Savarese from Franklin Street, who represented the buyer and seller in the transaction. Their expertise and guidance played a crucial role in facilitating the sale of this multifamily property in Melbourne.