Topaz Capital Group Acquires Lakeland Multifamily Property For $68.1M | 1906 Griffin Road | Luis Elorza, Justin Hofford, Shelton Granade, Luke Wickham | MultiFamily | Sale

Summary

Sale

FLORIDA

MultiFamily

280,000 sqft

The multifamily property located at 1906 Griffin Rd in Lakeland has been sold for a price of $68,115,000. The property consists of 228 units, with a price per unit of $298,750. The total square footage of the property is 280,000, with a price per square foot of $243. The sale took place on November 28, 2022.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $68,115,000
Address: 1906 Griffin Rd, Lakeland
Units: 228
Price Per Unit: $298,750
Square Footage: 280,000
Price Per Square Foot: $243
Market: Lakeland

Topaz Capital Group, represented by Marc A. Hershberg and J. Etan Friedman, acquired the property from The Latigo Group. The buyer was represented by Luis Elorza and Justin Hofford from NorthMarq, while the seller was represented by Shelton Granade and Luke Wickham from Institutional Property Advisors.

First Foundation Bank served as the lender for the transaction and was represented by Jacob Winkler, Tony Fire, and Dustin Campbell. The mortgage brokers involved in the deal were Abe Hirsch, Zev Karpel, and Ralph Herzka from Meridian Capital Group.

Players

All
6

Agents
4
Agencies
2

$255.8M Sold

$202.5M Sold

Executive Managing Director Investments

$1.2B Sold

Luke Wickham

Senior Managing Director Investments

$762.3M Sold

NorthMarq

Marcus & Millichap

Details

Deal Summary

SOLD

IMAGE: Shelton Granade, Luis Elorza, Marc A. Hershberg, Justin Hofford & Luke Wickham DATE: 11/28/2022 ADDRESS: 1906 Griffin Rd MARKET: Lakeland ASSET TYPE: Multifamily BUYER: Topaz Capital Group (@Topaz_Capital) - Marc A. Hershberg (@MAHershberg), J. Etan Friedman (@Jefriedman30) SELLER: The Latigo Group BUYER'S REP: Luis Elorza (@LuisElorza) & Justin Hofford (@JustinHofford) - NorthMarq (@NorthMarq) SELLER'S REP: Shelton Granade & Luke Wickham - Institutional Property Advisors LENDER: First Foundation Bank (@FirstFoundationBank) - Jacob Winkler (@JacobWinkler), Tony Fire (@TonyFire) & Dustin Campbell (@DustinCampell) MORTGAGE BROKERS: Abe Hirsch (@AbeHirsch), Zev Karpel (@ZevKarpel) & Ralph Herzka (@RalphHerzka) - Meridian Capital Group (@Meridian.Capital.Group) SALE PRICE: $68,115,000 UNITS: 228 ~ PPU: $298,750 SF: 280,000 ~ PPSF: $243

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Address1906 Griffin Road

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