The South Florida-based firm has about $120 million of programmatic JV equity available for the strategy, supported by warehouse financing and operating partnerships designed to speed execution. Marc A. Hershberg and J. Etan Friedman, managing partners of Topaz, said the platform is intended to give developers a well-capitalized takeout partner with greater certainty of closing. Topaz BTR will target newly delivered, lease-up, near-stabilized, and stabilized communities generally containing 125 to 250 homes, and will consider direct acquisitions, forward purchases, portfolio deals, select joint ventures, and recapitalizations.
