Plaza Apartments

JACKSONVILLE, FL—New York City-based Topaz Capital Group, has acquired The Plaza Apartments, a 281-unit apartment complex in the University Park area of Jacksonville. The deal was brokered in an off market transaction by Greg Rainey and his team from Berkadia.

Marc Hershberg, Topaz Capital’s managing director and CEO, tells that the property is in an appealing area of the city near Jacksonville University that is seeing major gentrification. “It is right by the university, which is bringing in younger people,” Herschberg says. “The talent pool in the area is increasing, which we believe will eventually bring more housing to the area. We saw this property as being one of the untapped properties in the area in terms of rehab potential.”

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