Topaz Plaza JAX
3780 University Club Boulevard, Jacksonville, FL, 32277
Acquired in Late 2019
Opportunity to Add Value with Modern Amenities + Unit Upgrades
TOPAZ acquired this property with the same syndicate of domestic and international UHNWI and Family Offices partners in late 2019. 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 accommodate our LP investor’s tax sensitivities and reporting requirements.
Property Website: www.topazplazajax.com
Number of Units: 290
About TOPAZ Plaza Jax
- Acquired off-market after an unsuccessful marketing process, for a discount due to the assumption of un-attractive debt.
- Located in the University area of Jacksonville Florida which provides the lowest rental rates in the submarket.
- Upon acquisition of the property, we upgraded the exteriors and tenant amenities of the property to create a more inviting atmosphere
- Unique opportunity to purchase a cash flowing asset in the ever growing Jacksonville market at a discount to market price.
- Property was Financed at a fixed interest upon closing