Topaz Oaks

Topaz Oaks

Acquired Q4 2020

Address: 45160 Ewing Park Rd.
Callahan, FL 32011
Number of Units: 75 Units + 60 Storage Units
Opportunity to purchase a fully occupied brand new asset in a historically stabilized submarket

TOPAZ acquired this property with the same syndicate of domestic and international UHNWI and Family Offices partners in Q4-2020. The deal was structured with staggered hold periods with nuanced exit strategies; tiered and complementary renovation programs, thoughtful and diligent business plans to optimize returns. The debt and ownership structures were tailored to suit LP regulatory, tax, and investment objectives. Flexibility in operating agreements accommodates our LP investor’s tax sensitivities and reporting requirements.

About Topaz Oaks

Using the extensive portfolio Topaz has in Jacksonville, we will be able to use our economies of scale to allow us to manage this property efficiently and cost-effectively. Topaz took over the property from a local household builder who has limited management background and expertise. Topaz saw the opportunity to add value using our operational capabilities within Jacksonville. We can capture additional income, due to the current in-place low rents and because of the uniqueness and desirability of the property, not to mention the added revenue from the storage units on the property.
  • Acquired for $11.8M after rounds of negotiation with local agent and developer.
  • Located in the Callahan FL within the Jacksonville MSA.
  • Unique opportunity to purchase a fully occupied brand new asset in a historically stabilized community that is also an up-and-coming northern submarket of Jacksonville, Florida.
  • Topaz presented a 1031 client the opportunity to purchase a cash-flowing asset in the ever growing Jacksonville market with day one cash-flow at 14%.
  • Topaz Oaks was awarded Green Globes NC recognition for being environmentally efficient and was thus financed with a Fannie Mae “Green Loan” serviced by Arbor.