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Topaz’s $68M Multifam Acquisition Brings Florida Investment Tally to $400M
Topaz Capital Group is continuing to expand and become a more dominant player in the greater Florida market with a portfolio of approximately $400 million.
Topaz Capital Group Acquires Florida Asset
Multifamily real estate investment and advisory company Topaz Capital Group has acquired The Caroline, a newly constructed high-end apartment community in Lakeland, Fla.
The Lynd Group and Its JV Partner Topaz Capital Completes $66 Million Sale of 444-Unit JAX Apartments
They renovated approximately 75% of the units, increasing average rents from $783 per month to $1,078 per month at the time of closing.
Lynd-Topaz Joint Venture Sells Jacksonville Apartment Community for $66 Million
Lynd Group, and its JV partner Topaz Capital, sold a 444-unit value-add multifamily asset in Jacksonville for $66 million just three years after acquiring it for $35.15 million.
ROI Capital Group Closes on 444-Unit Jacksonville Multifamily for $66M
ROI Capital Group has acquired Topaz Villas, a 444-unit multifamily community in Jacksonville, FL for $66 million with a $53 million loan arranged by Berkadia.
Lynd-Topaz JV Sells Jacksonville Apartment for $66M
Lynd Acquisitions Group and its JV partner Topaz Capital, sold a 444-unit value-add multifamily asset in Jacksonville for $66 million three years after acquiring it for $35.15 million.
Berkadia arranges $66 million sale and financing of Jacksonville, Florida apartment community
Berkadia arranged the sale and financing of Topaz Villas, a 444-unit multifamily community in Jacksonville, Florida.
Berkadia Brokers $66M Sale of Topaz Villas Apartments in Jacksonville
Berkadia has brokered the $66 million sale of Topaz Villas, a 444-unit multifamily community located at 5327 Timuquana Road in Jacksonville.
Berkadia Arranges $66M Sale and Financing for FL Apartment Community
ROI Capital Group acquired Jacksonville, FL-based Topaz Villas, signaling continued investor appetite for well-located assets in the area.
Topaz Capital Acquires 197-Unit Value-Add Florida Asset
Topaz Capital Group and Apple Core Holdings have bought Paradise Cay, a Class B multifamily asset in Melbourne, Fla., from a private individual. This is Topaz’s 10th Florida acquisition, according to the company.
Topaz Acquires Tenth FL Multifamily with $33M, Class B Melbourne Purchase
Topaz Capital Group, LLC, and an affiliate of Apple Core Holdings, LLC, have acquired a 197-unit, Class B+ multifamily property in Melbourne, FL for $33 million. The property will be rebranded to The Park at Topaz Cay.
Franklin Street arranges $34 million sale of value-add multifamily property on Florida’s East Coast
“With below market rents currently in place, Paradise Cay Apartments provides exceptional upside potential,” said Kattan. “The planned improvements paired with Melbourne’s continued population growth will provide strong, long-term returns for Topaz Capital Group.”
NYREJ: TOPAZ acquires 158 unit The Abby Apartments in Tallahassee
Topaz Capital Group and its operating partner, Corridor Property Management, has acquired a 158-unit, Class B+ multifamily property. The acquired property will be rebranded to Topaz Grove.
TOPAZ hires Alvarado as creative marketing director & executive manager
Marc Hershberg, CEO of TOPAZ, said “We’re very excited to have Jaclyn and Tatiana on board. They are a great addition to our growing team.”
Topaz Capital’s Marc A. Hershberg on Florida Multifamily & Much More
Leverage.com’s interview with Topaz Capital Group's Marc A. Hershber, that focuses on multifamily garden-style and mid-rise properties in high-growth markets throughout the Southeast.
Is Multifamily in a Bubble?
“Multifamily hasn’t seen this level of pricing in a long time. So undoubtedly we’re at a historic high, and I do question how much higher we can go and how much longer the dance will go on for.” - Marc A. Hershberg, Topaz Capital Group
Topaz Capital Group Acquires Orlando-Area Community
Topaz Capital Group is continuing to expand its multifamily portfolio in Florida, acquiring a 256-unit community in Sanford, Fla. The company has purchased The Park at Topaz Riviera for $42.2 million from an undisclosed seller.
Slow Rental Aid Distribution Frustrates Multifamily Owners
“Residents and management companies are left in limbo not knowing when funds will be disbursed. This leaves companies with the unpleasant decision on whether to evict residents or wait for an unspecific amount of time not knowing when or if they will be paid,” said Joseph E. Friedman, partner & COO at Topaz Capital Group.
Multifamily Influencers
Topaz invests on behalf of ultra-high-net-worth individuals, family offices and institutional groups. Providing ways to earn well-risk-adjusted returns on capital for its more than 200 investors, the company additionally incorporates innovative practices at multifamily workforce communities to provide a higher quality of life for tenants.
Topaz Capital Group acquires 216-unit multifamily property
New York City-based Topaz Capital Group LLC has acquired its 3rd multifamily property in Jacksonville with the latest closing of the 216-unit.
Where Value-Add Investing Stands
“There’s a lot more studying we’re doing now as opposed to the past, when we were more confident, needed less studying and meticulous analysis,” said Topaz’s Managing Partner & CEO Marc Hershberg. “We’re definitely combing over how units are being absorbed in the marketplace.”
2021 Next Generation Awards
Connect Commercial Real Estate is proud to present the winners of our 2021 Next Generation Awards. In one of the most challenging years on record for the industry, these rising stars surmounted the hurdles and excelled in business and leadership in the community.
Jacksonville Community Trades in Value-Add Play
Creative Realty Partners has sold Planters Walk, a 216-unit garden-style community in Jacksonville, Fla., to Topaz Capital Group. The suburban asset traded for nearly $18.8 million, or roughly $86,800 per unit. Berkadia Director Greg Rainey represented the seller.
Topaz Capital launches new 1031 platform and investment management software
NYREJ sat down with Marc Hershberg about their new investment management software (TOPAZ IR) and the recent growth of their TOPAZ TEN31 Xchange Program, a seamless S1031 Exchange Real Estate platform. We explore technology, multifamily, and the impact of COVID-19 on the industry.
Multifamily Remains Strong for Investors Amid COVID Disruption
The multifamily sector was considered a safe haven asset class pre-COVID. Now, with rising vaccination rates starting to bring people out of their homes and back to some semblance of normal life, this has only been reinforced in terms of investor attention and as a place to securely park capital.
Topaz Capital Group LLC Expands into Lakeland MSA with the purchase of Autumnwood Apartments
Topaz Capital Group has acquired 96-unit property, Autumnwood Apartments, in the sought after market of Lakeland, Florida. The deal was brokered successfully by Senior Director, Zachary Ames, and his team at Franklin Street. The debt was arranged by Managing Director, Josh Messier at LUMENT.
Has Bridge Financing Cast a Shadow Over Agency Lenders?
Pricing has become aligned with how aggressive the private debt funds have gotten in recent months and how aggressively priced multifamily deals have become overall.
What do 1031 and inheritance tax reforms mean for commercial real estate investors? - by Marc Hershberg & Jared Isaac
While the U.S Presidential election is behind us (seemingly), much is still in the air in regards to the balance of power in the senate with two January 5th runoff elections in Georgia weighing in the balance.
New York-based capital group purchases fourth multifamily property on First Coast
A New York-based capital group recently purchased a 73-unit apartment complex in Callahan, marking its fourth acquisition on the First Coast.
Workforce Investment Heats Up in Tough Economy
As the competition for workforce housing properties heats up, Class B investors are adjusting their strategies to better navigate market conditions.
Is Florida OK? How Real Estate Has Been Faring in the Sunshine State
Eager to reopen its economy, Gov. Ron DeSantis has vowed never to lock down the Sunshine State again. The result has been surging COVID-19 cases — and real estate investment galore.
Top Young Professionals Class of 2020
Some day, many years from now, this year’s class of brokers, financiers, architects and engineers on our annual Young Professionals will have the scars to show that, at the worst possible moment for the industry and the country, they proved themselves. Marc Hershberg, 27, Managing partner and chief executive officer at Topaz Capital Group was names Top Young Professional Class of 2020 by the Commecial Obseor
Topaz Capital’s Marc Hershberg Talks Multifamily Investment During a Global Pandemic
Sometimes a knack for real estate investing is just in your blood. Marc Hershberg developed a taste for the industry very early on, using his bar mitzvah money to invest in his first property.
Why multifamily garden style vs. high rise during COVID-19?
Since the onset of the COVID-19, residents of cities have begun to move outwards from urban cores to surrounding suburban areas for two primary reasons. First, densely populated and overcrowded cities serve as primary targets and hotspots for future outbreaks, as illustrated by how large, urban metropolises have fared during the current pandemic. Second, the proven long-term viability of the work-from-home (WFH) eliminates the need for employees and employers to work and live in the city.
1031 Exchange: Take the DST or TIC Route for Multifamily in a Post-Covid World?
Property sellers seeking a 1031 Exchange should be enticed to enter into a Multifamily TIC structure primarily due to the added inherent rights that come along with the structure and the historically safe returns
Topaz Capital Closed on a Historically Low Refinance Rate of their Jacksonville Property dubbed Topaz Villas JAX
Topaz Capital Group and JV Partner, Lynd Companies are pleased to announce the refinancing of Topaz Villas JAX located in Jacksonville, Florida. Just 15 months after the purchase of the property for $35.15 million in June 2019, the partnership closed on a 12-year non-recourse fixed-rate deal from Fannie Mae serviced by Arbor at a historically low-interest rate of 2.79%.
Closed: Topaz Capital continues to acquire multifamily property in Jacksonville amid Covid-19
JACKSONVILLE, FL—New York City-based Topaz Capital Group LLC has acquired its 3rd multifamily property in Jacksonville with the latest closing of the 216-unit Planters Walk Apartments in the ever-growing submarket of Duclay. The deal was brokered in an off-market transaction by Greg Rainey and his team from Berkadia.
Jacksonville Apartment Trades in Off-Market Deal
Topaz Capital Group plans to invest $2 million to upgrade the property and is in the process of rebranding it as Topaz Plaza JAX.
Addressing New Challenges in the COVID-19 Era
Leaders in real estate have started to address the impact of the virus on their existing assets and future transactions, explains Marc Hershberg and Jared Isaac of Topaz Capital.
Multifamily Real Estate Investments Remain Resilient Despite Market Uncertainty Impact of COVID-19 Crisis
We all have learned that investing your hard earned money wisely is increasingly important in today’s ever-changing market. There is no doubt that our financial and global markets will be impacted, and the fear of a recession is no longer one of speculation but a reality.
THE BUILD-OUT: Retail building —from boom to fizzle?
Waves of recent retail construction in Jacksonville area could be slowing in 2020.
Arbor Realty Trust Launches Rental Assistance Program
Multifamily lender Arbor Realty Trust is launching a national $2 million rental assistance program.
Three Jacksonville apartment communities sold for a total of more than $153.5 million
Mission Springs Apartments near Ortega sold June 13 for $35.15 million. The deal is a joint venture with New York City-based Topaz Capital, a private equity firm.