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7/20/2016 - Berkadia Closes Sales for Melbourne Florida Multifamily Properties
Berkadia today announced the sale of two multifamily properties in Melbourne, Florida: the Veridian Townhomes and Savannahs at James Landing. The sales were completed by Managing Director Cole Whitaker and Senior Director Hal Warren of the Orlando, Florida office and Director Jason Stanton of the Tampa, Florida office. The seller of Veridian Townhomes was Central Park Multifamily Partners, LLC of Nashville, Tennessee and the seller of Savannah at James Landing was Melbourne Multifamily Partners, LLC. Both properties were more than 95 percent occupied at the time of sale. “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,” said Whitaker. “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 offers many amenities including 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 Corporation, the largest technology company in Central Florida, located approximately six miles from both properties and headquartered in Melbourne, Florida. [Multi-Housing News]

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Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Proprietary Holding LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx