Updated Sep 2, 2025
David M. Solomon Of Goldman Sachs Acquires 270-Unit Multifamily Property In Viera For $94M
7578 Highsmith Rd
$94,000,000
Units
270
Asset Type
MultiFamily
Closing
Sep 1, 2025
About this deal
AI
The transaction involves a multifamily asset located at 7578 Highsmith Road in Viera, Florida, encompassing 14 acres. The property was acquired for a total sale price of $94,000,000, equating to $348,148 per unit for its 270 residential units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $94,000,000
- Units: 270
- Price Per Unit: $348,148
- Buyer: David M. Solomon - Goldman Sachs
- Seller: Tom Cavanaugh - PAC Land Development
Goldman Sachs, represented by David M. Solomon, expands its national multifamily portfolio, which now includes 41 properties with a total of 10,783 units. The addition of this property marks Goldman’s continued investment in Florida, as it already owns two other communities in the state.
On the Map
$94,000,000
MultiFamily
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Melbourne MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93