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1906 Griffin Rd, Lakeland, ...

Topaz Capital Group Acquires Property In Lakeland With Buyer's Representatives Justin Hofford Kevin Mosher Luis Elorza
SOLDMultiFamily

Topaz Capital Group Acquires Property In Lakeland With Buyer's Representatives Justin Hofford Kevin Mosher Luis Elorza

1906 Griffin Rd, Lakeland, FL, 33810

Building Size

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

The Caroline is an apartment community situated at 1906 Griffin Road, Lakeland, FL, 33810. This recently completed property comprises 228 units, featuring one-, two-, and three-bedroom layouts, with an average unit size of 1,161 square feet. The community offers several amenities, including a clubhouse, pool, outdoor kitchen and entertainment space, pet park, fitness center, playground, and wetland boardwalk.

Summary of transaction details:

NorthMarq facilitated the transaction, representing the buyer, Topaz Capital Group. The sale of The Caroline marks a significant acquisition within the Lakeland market, as the property adds to the buyer's portfolio of multifamily investments. The representatives involved in this deal, Justin Hofford, Kevin Mosher, and Luis Elorza, played key roles in finalizing the sale.

Players

Luis Elorza

NorthMarq

Broker

$284.1M

vol

7 deals

Broker
TG
Topaz Capital GroupBuyer

Lakeland MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93