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Topaz Capital Group, LLC has acquired The Caroline Apartments, a newly built Class A multifamily in Lakeland, FL, for $68.1. million from The Latigo Group.

Topaz Capital Group’s $68M Multifam Acquisition Brings Florida Investment Tally to $400M

Topaz Capital Group, LLC has acquired The Caroline Apartments, new 228-unit, Class A multifamily property for $68,115,000 in Lakeland, FL, for $68.1. million. The property’s developer The Latigo Group, was the seller.

Luis Elorza, Justin Hofford and Kevin Mosher of Northmarq represented the buyer. Debt was arranged by Abe Hirsch and Zev Karpel at Meridian Capital Group, and the fixed-rate loan was provided by First Foundation Bank.

The transaction marks Topaz Capital Group, LLC’s 13th multifamily acquisition in FL and brings the company’s multifamily acquisition and development portfolio to $400 million across 2,700 units.

“Topaz Capital Group, LLC is incredibly bullish on acquiring multifamily properties in high-growth MSA’s across the State of FL until we become a more dominant player in the market,” said Marc Hershberg of Topaz Capital Group, LLC.

Topaz Capital Group, LLC, a multifamily-centric real estate holdings company, aims to expand its portfolio to over half a billion dollars by Q2 of 2023.


Inside The Story

Topaz Capital Group, LLC's Hershberg

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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