Topaz Capital Completes Sale of Revitalized Jacksonville Multifamily Property

Topaz Capital Group, a key player in the multifamily sector, has announced the successful sale of its 228-unit property, Topaz Gardens, located in Jacksonville, Florida. The sale marks a significant milestone following the implementation of a strategic repositioning plan that transformed the property with comprehensive renovations and enhanced amenities. Initially acquired in 2020, Topaz Gardens now offers an enriched living environment that has attracted a diverse range of residents, allowing the property to command higher rents. This transaction underscores Topaz Capital's commitment to revitalizing assets and maximizing investor returns as part of their multifamily investment strategy known as the Topaz Living Standards. The sale also positions Topaz Capital to continue its expansion strategy, aiming to grow its Florida portfolio to over a billion dollars by 2027. The sale was brokered by Berkadia, highlighting a partnership with industry experts in capital markets.