Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Northmarq Arranges $61M Sale of Multifam by the Beach in FL Panhandle
The Brookview Companies has purchased The Sound at Navarre Beach, a 250-unit multifamily community in the Florida Panhandle city of Navarre, for $60.5 million.
The seller, Talos Holdings, was represented by Northmarq’s Tampa investment sales team of Luis Elorza, managing director, and Justin Hofford, senior associate, partnered with Trevor Koskovich, president, and Jesse Hudson, senior vice president, from Northmarq’s Phoenix office
The 2017-constructed property in the Pensacola MSA has a low-density site plan on 15.5 acres in close proximity to the beach and large-scale government employers. It is comprised of 52% one-bedroom, 40% two-bedroom and 8% three-bedroom units with an average unit size of 887 square feet.
“The Florida Panhandle has seen explosive growth over the past decade, with total employment expanding by nearly 20 percent. This region continues to attract high paying jobs, in part because of the area’s highly skilled workforce,” said Hofford.
- ◦Sale/Acquisition
