MELBOURNE, Fla. – Berkadia recently completed sales of two multifamily properties in Melbourne: the Veridian Townhomes and Savannahs at James Landing. The sales were completed by Managing Director Cole Whitaker and Senior Director Hal Warren of the Orlando office and Director Jason Stanton of the Tampa office of Berkadia.
The seller of Veridian Townhomes was Central Park Multifamily Partners, LLC of Nashville, Tenn. and the seller of Savannah at James Landing was Melbourne Multifamily Partners, LLC. Both properties were more than 95 percent occupied at the time of sale.
“The Melbourne market is continuing to experience strong interest from investors across the U.S. who are attracted to the rental market and opportunities for growth,” said Whitaker. “The buyer in this transaction is very familiar with the area and saw strong potential in these two properties.”
Built in 1983, the Veridian Townhomes are located at 2420 Central Park Drive. The 120-unit property includes one-, two- and three-bedroom floor plans. Unit amenities include ceiling fans, appliances, balconies or patios, and extra on-site storage facilities. The community features a swimming pool, playground, tennis court, fitness center, clubhouse, and barbecue area.
Savannahs at James Landing is located at 3051 Savannah Way. Built in 1989, the 256-unit property features one- and two-bedroom floor plans. Unit amenities include European style cabinetry, stainless steel appliances, balconies or patios, walk-in closets and granite countertops. The community offers many amenities including a clubhouse, swimming pool, business center, fitness center, clothes care center, lake, dog park, volleyball court and tennis court as well as biking and walking trails.
One of the top employers in the area is Harris Corporation, the largest technology company in Central Florida, located approximately six miles from both properties and headquartered in Melbourne, Florida.
# # #
Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
To learn more about Berkadia, please visit www.berkadia.com.