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 seller was multifamily developer AQRE VI. Northmarq’s Tampa, Fla.-based investment sales team represented the buyer on the sale.
Situated at 1906 Griffin Road and completed earlier this year, the 228-unit apartment community features units averaging 1,161 square feet in size. One-bedroom apartments make up 32 percent of the residences, while two-bedroom homes comprise 52 percent. Three-bedroom apartment homes represent 16 percent of total units. Apartments feature wood-style flooring throughout each home, two-tone cabinetry, subway tile backsplashes, granite countertops and screened-in balconies and porches.
A signature boardwalk through protected wetlands represents a prominent common-area amenity of the apartment community.