Plaza Apartments
JACKSONVILLE, FL—New York City-based Topaz Capital Group, hasacquired The Plaza Apartments, a 281-unit apartment complex in theUniversity Park area of Jacksonville. The deal was brokered in anoff market transaction by Greg Rainey and his team fromBerkadia.
Marc Hershberg, Topaz Capital's managing director and CEO, tellsGlobeSt.com. that the property is in an appealing area of the citynear Jacksonville University that is seeing major gentrification."It is right by the university, which is bringing in youngerpeople," Herschberg says. "The talent pool in the area isincreasing, which we believe will eventually bring more housing tothe area. We saw this property as being one of the untappedproperties in the area in terms of rehab potential."
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