Topaz Gardens, located at 7350 Blanding Blvd, Jacksonville, FL 32244, now offers a significantly enhanced living experience. TOPAZ invested in comprehensive interior and exterior renovations, including upgrades to individual units and the addition of new amenities. This repositioning has allowed the property to command higher rents and attract a wider range of residents.
“This successful sale demonstrates our ability to identify underperforming assets, implement strategic improvements, and create value for our investors,” said Marc A. Hershberg, Managing Partner & CEO. “The transformation of Topaz Gardens is a prime example of our Topaz Living Standards, a proven value-add strategy to multifamily investing.”
The revitalized community now features a range of amenities, including a swimming pool, dog park, playground, 24-hour fitness center, clubhouse, on-site property maintenance and management, and laundry facilities. The upgraded amenities, coupled with the increased revenue generated from the renovated units, have positioned Topaz Gardens as a leading rental community in the submarket.
TOPAZ maintains a robust multifamily acquisition and development portfolio, comprising over 2,500 units valued at more than $500+ million across Florida. The company aims to expand its low/mid-rise Florida portfolio to over a billion dollars by 2027. This sale represents a key step in achieving that ambitious goal.
Built in 1974, Topaz Gardens offers one, two, three, and four-bedroom pet-friendly apartments. The transaction was brokered by Greg Rainey, Cole Whitaker, and their Florida Capital Markets team at Berkadia.”
About Topaz Capital Group LLC
Topaz Capital Group LLC is a Florida-centric multifamily-focused real estate private equity and asset management company that serves as the parent company for a family of operating subsidiaries, investment partnerships, funds, and ventures. With a nationwide presence and a reputation for excellence, TOPAZ has become a best-in-class multifamily real estate sponsor, private lender, investor, asset manager, Co-GP partner, and developer. TOPAZ is setting the bar with transactional quality, multifamily strategies, investment returns, client services, and industry impact, with a particular focus on the State of Florida. TOPAZ’s rapid growth and strong reputation are driven by deep industry relationships and an unparalleled ability to positively impact the multifamily real estate sector.
