Berkadia Lends a Hand in Central Florida
- Jul 22, 2016
Orlando—Berkadia has recently arranged the disposition of the Veridian Townhomes and Savannahs at James Landing, two communities in Melbourne, Fla. The sales were secured by Managing Director Cole Whitaker and Senior Director Hal Warren of the firm’s Orlando office, together with Director Jason Stanton of the Tampa office.
The seller of Veridian Townhomes was Central Park Multifamily Partners LLC of Nashville, Tenn., while the seller of Savannahs at James Landing was Melbourne Multifamily Partners LLC. Both properties were more than 95 percent occupied at the time of closing.
“The Melbourne market is continuing to experience strong interest from investors across the U.S. who are attracted to the rental market and opportunities for growth,” Whitaker said in prepared remarks. “The buyer in this transaction is very familiar with the area and saw strong potential in these two properties.”
Built in 1983, the Veridian Townhomes are located at 2420 Central Park Drive. The 120-unit property includes one-, two- and three-bedroom floor plans. Unit amenities include ceiling fans, appliances, balconies or patios and extra on-site storage facilities. The community features a swimming pool, playground, tennis court, fitness center, clubhouse and barbecue area.
Savannahs at James Landing is located at 3051 Savannah Way. Built in 1989, the 256-unit property features one- and two-bedroom floor plans. Unit amenities include European style cabinetry, stainless steel appliances, balconies or patios, walk-in closets and granite countertops. The community also offers a clubhouse, swimming pool, business center, fitness center, clothes care center, lake, dog park, volleyball court and tennis court, as well as biking and walking trails.
One of the top employers in the area is Harris Corp., the largest technology company in Central Florida, located approximately 6 miles from both properties and headquartered in Melbourne, Fla.
Image courtesy of Berkadia