GMF Capital Acquires Multifamily Property In West Melbourne For $73.3M

Located in West Melbourne, the multifamily property at 220 Belgian Dr was recently sold in a closed transaction. The sale took place on May 24, 2021, with a sale price of $73,300,000. The property consists of 316 units, resulting in an average price per unit of $231,962.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $73,300,000
• Units: 316
• Price per Unit: $231,962
• Address: 220 Belgian Dr, West Melbourne

GMF Capital, represented by Gary Fegel and Jay Lobell, acted as the buyer in this transaction. On the other side, the seller was Picerne Real Estate Group and Equity Resources LLC, with Jack Fiorella III being the seller's representative. The deal was a success, showcasing the expertise and negotiation skills of all parties involved.